White Gold Corp. 2022 Exploration Program Announcement

0:08 Hello everyone and welcome to Reunion Gold's live investment summit today hosted by 6. I'm pleased to introduce our speaker for today, CEO of Reunion Gold, Carlos Bertoni. Carlos is gonna walk us through a company presentation and after we'll be taking questions live. Remember that you can submit your questions using the Q&A tab found on the right hand side of your screen. And as always, the summit is being recorded and will be available to watch on six.com in the coming days. Without further ado, Carlos, the show is yours. Good morning. Thank you very much for this opportunity and welcome everybody to this presentation. This is our second presentation with 6. You're going to have the opportunity to look at this in more detail later if you need. I don't intend to speak for more than half an hour. So, and then of course, we'll be pleased to answer some of your questions as we go.

0:56 We're very excited, continue talking about our discovery in Guyana, we call OCO West. Reunion has been working on this project for 2 years and we're very, very keen to share the experiences and the results we've had. So welcome. Of course, we are listed in the Toronto Stock Exchange. This is the terms of this presentation. We make some forward-looking statements that need to be considered. So who is Reunion and what they'll be doing in Guyana? We're going to talk essentially about 1 project today, that we call OcoWest, that's in Guyana, the North Shore or South America, the former British Guyana, where we made a gold discovery and which is our focus at this point.

1:53 At OCO-West, we've drilled over 31,000 meters, both diamond and reverse circulation drill holes. And, of course, all this drilling is to demonstrate the geometry and the mass of the gold mineralization we found. We have outlined a fairly continuous gold mineralization over 2.5 kilometers, which is a sizable deposit in terms of both width, length and depth. And we drill this thing down to 250 meters and we do believe it does continue further than that we need to demonstrate that by drilling which we are currently doing.

2:39 This deposit it would be open pit amenable it's a very long deposit and it's open pitable in the sense that it comes right to the surface starts from the surface so you would mine it by creating a pit and extracting the rocks and processing the rocks. We have a fairly good strong grade profile. The average grade of the deposits in the Guiana Shield, what we call Guiana Shield, is Guiana Suriname and French Guiana, is 1.5 grams per ton of gold. And we're doing better than that. And we've done also initial and very favorable metallurgical work that is to demonstrate that we can actually extract gold from these rocks.

3:30 And we do plan to issue a maiden resource for the third quarter of this year. We're focusing our drilling program with that objective. And that will be a report card to our shareholders in what we found. And of course, We are in Guyana, which is a mining-friendly jurisdiction. The various mines in Guyana, they all operate under agreements with the government of that country. And the government has respected every single agreement that has been signed for any mining project. Of course, in terms of a company highlight, a reunion comes from a group of people that had experience working in the Ghana Shield in the 90s, getting back together, reuniting in creating a company to continue exploring the potential of this region.

4:23 And of course that part of South America was once linked with West Africa and was split of course by the Atlantic Ocean And so we're comparing geologically what we have with countries like Ghana, Ivory Coast, and Mali, which are much more advanced in terms of mineral development. But of course, this area is as well endowed in terms of gold as West Africa. And as a demonstration of our capability and ability to deliver in this region, we have a strategic alliance with Barrick Gold, one of the largest gold producers in the world. We currently have a project with Barrick in Suriname, we will not talk about it, but that's a recognition of our ability to work with a major company and do the exploration that needs to be done. We have a fairly strong cash position around 20 million Canadian dollars that is sufficient for us to continue working the work we propose.

5:32 Just zooming in on the project itself, the background of this map is a geological map. We have a situation in which we have a strong... Let me do some drawings here for you. This map shows the contact on the right of the pink granitic rocks, and on the left you have this greenish which are volcanic rocks. And this squiggles the red and yellow lines, these are geochem anomalies. We took soil samples along the area and these are what you call gold soil anomalies and this soil anomalies as you can see straddles the contact of the granites on the left on the right and the volcanics on the left so this interval here is 6 kilometers long.

6:34 That's the length of that line. And of course, it continues into our neighbors to the north, G2 gold fields, something like that. And we're not going to comment about their project, of course, but they're good neighbors to the north. So this is a very strong system, which within our appropriate limits, it's 6 kilometers long. We divided the area into blocks. To the north, we have 2 and 1 1 kilometers, what we call the Kairuni zone, where we've done most of our work. Into the south, the 3 and 1 1 kilometers, Taco, which is essentially not as explored. This is the TACO2 and that's the Cairo New Zone.

7:26 So we'll be focusing mostly on the northern part on the Cairo New Zone where we have done most of the drilling so far. Of course, this is a typical, what we call, orogenic type gold deposit, related to shearing, related to faults, that happen to be at the contact of these 2 rock masses. It's very typical that you have tectonic movements along that contact and that takes up the stress, the rock gets broken, a lot of space gets created and the fluids carrying gold mineralization occupy that space creating gold veins veins with gold etc so that's the type of mineralization very typical here in Canada the Abitibi area both in Quebec and Ontario Red Lake etc orogenic type gold deposits and so we're looking at rocks here very similar in nature and age to those here in Canada.

8:27 So that's the geological setting of the deposit. And if you look at in terms of what the work we've done that's the Karuni zone only the northern part of the of that geochem anomaly we divided that Karuni zone in all those blocks blocks 145, and 6. Most of the work, most of the drilling here is in block 4. That is this block here. And this call out, these are results of drill holes that we published recently on our last press release. As you can see we have good lengthy intersections with very good grades.

9:16 And this is the area we continue drilling and this forms a 2.5 kilometers for which we intend to publish resources in the third quarter of this year. These blocks were created just for the convenience of talking about them. They don't represent particular deposits. These are just how we subdivide the... How we plan the drilling and exploration. If you look carefully at this map, you're going to see some pinkish zones in here, in the center part, here for example, through here, through here, and through here. Those are the so-called mineralized zones, which represent the gold intersections very schematically of course and if you look at the little table on the left bottom corner you can see that we have some very very good intersections both in terms of length in terms of grade Just make sure you understand I'm talking about lengths, not necessarily widths.

10:24 Not all those drill holes intersect the mineralization at a right angle. So it's important to highlight. But we have, for example, 100 meters of almost 6 grams. I mean, these are very significant intersections in some of these holes and that's why allows us to to say that this deposit will be mined as an open pit. And eventually, of course, I cannot, this is a forecast, but that open pit will be like a long trench along this mineralized zones, going pretty much oriented north-south. And again, at the contact of the granites, the right, and the volcanic rocks to the left. So in a nutshell, that's the nature of this deposit, where you have strong shearing and strong faults along those contacts.

11:21 And these are the intersections I was talking about that came out in the last press release. And we are planning as we have 3 rigs drilling continuously. We intend to announce regularly results. And at least every 2 months, we'll have a press release disseminating information and the results from this work. So one way, I'm just going back here for a minute. The next illustration is a section that goes from north to south that essentially goes throughout this whole area here. The next section, it's a north-south section. And we're going to be looking west on that section.

12:11 So just to understand what we're showing next. One way of representing mineralization is to show what we say a grade block model. If you look closely, there are little blocks here forming this figure. These are 8 by 8 meter blocks and they summarize the gold that was intersected in that block. So this is a plan view on top. This is a plan view here. This is 2 and 1 1 kilometers long. And this is north on the right and south on the left. As you can see, mineralization is fairly continuous. And you can tell continuity because all those gradient intersections are essentially joining, slowly joining. We have some gaps in the middle.

13:05 These gaps are mostly related to the lack of information. So for example a gap here, another gap there, here and here. These are gaps related to the lack of drilling and on the bottom is the same essentially section but looking as a cut a vertical cut along that that's a vertical cut essentially right through here and then you're looking West as a vertical section projected to a vertical surface And you can see that this scale here on the left, 350 meters, that's just for a scale. As you can see, we have drill holes that have intersected mineralization down to a depth of 250 meters.

13:54 Our target at this point is to drill essentially infill this area drilling with a target depth or about this this target depth here which is about between 200 250 meters so we have all the white area above that line it's meant to be infill by drilling so our objective or the current program is to infill this area with drilling. That's why we have a current budget of 12,000 meters of drilling to infill this area and demonstrate continuity and infill this area. Why that depth? We just, It's an arbitrary choice of a depth what could be a pit bottom. This is not something that has been designed as a pit, but you have to stop somewhere. You just can't keep drilling forever at depth. So we set up that artificial pit bottom or the area or the bottom to be drilled and that's what we're proceeding to do.

14:55 That is to say that mineralization doesn't stop there. We already demonstrated it goes beyond that and we currently have our deepest intersection at 250 meters depth and we're drilling some holes to demonstrate it does go deeper. Eventually when we do a resource estimate and the engineers do a whittle pit or a mine plan, they will demonstrate how far this could be a potential new mine, depending on the gold price, et cetera, a number of factors which will determine what can be done in this area. So that's our illustration of what we found so far and where we're going in the near future. Now this is some sections let me go back here just once.

15:46 These are sections that we're going to do, show you for example, sections coming from here, here. These are vertical east-west cuts, geological cuts that we're doing, that allow you to appreciate how this thing looks like when you section it in an east-west fashion. This, for example, these are 2 sections here. Very simplified geology. We have on the area to the right of both sections, granites in pink. And at the extreme left, we have granites in pink as well. And caught in between those 2 granites you have a sequence of sedimentary rocks which are shown here in green and blue.

16:34 These rocks, they were caught in between those 2 granites by tectonic forces and they were thoroughly deformed, very broken up. Here's a picture of what one of the segments look like. As you can see all this fracturing this is a fracture that's a fracture this is a fracture you can see they cross cut each other. So this rock was very strongly broken up a lot of the space was created. The fluids were allowed to come in, fluids containing gold, and they filled the cracks, and of course when they cooled down, formed these quartz veins with gold inside. So that's what makes this deposit so interesting, is that you have a very large volume of sedimentary rocks that were broken up, and with space creation, allowing the fluids to move through like conduits.

17:33 And then of course with the cooling all this material crystallizes as quartz carbonate with gold inside so as you can see this is a fairly good width this is let's say average between 70 and 100 meters wide, true width. This, as I said, the intersections are not necessarily true widths, but because they don't cut necessarily a right angle, this would be the true width here. That's a length and that's a width. But regardless, it's a very good package of mineralized rocks, very consistently mineralized. Here near the surface, the mineralization comes right on the surface. This discovery was made by taking soil samples right here.

18:27 The soil samples told us there was mineralization and then we did trenches and then we did this drilling program. So the drilling is systematically demonstrating we have mineralization continually at depth. One important aspect here is this line here, which shows the contact between weathered and unweathered rocks. Above this line you have rocks which have been thoroughly weathered. Remember this is a equatorial area you have a lot of water moving up and down up and down to the rocks and the rocks have been completely weathered to a clay but mineralized clay of course so these are fairly easily dug rocks So this is what we call saprolite.

19:18 Here again, good, the contact with the saprolite. So below that line you have fresh or unweathered rocks, and above that you have weathered rocks. It's important to have that as thick as possible, that, those thickness, because this is free digging, you don't have to blast, you just your shovel, when you're mining it, just shovel and send it to the mill, whereas all the material here below the line, we have to blast, of course, it's much more expensive, more energy intensive to mine below that line. So the more saprolite, the more weathered rock you have in a deposit like this, the more economically interesting it becomes, because you don't have so much energy consumption in terms of extraction and processing.

20:06 I'll show you another couple of sections now. Some of the sections are some of the deepest here for example. Here we have mineralization down to depth of 350 meters. Here mineralization to a depth of 300 meters. Again, that's your sedimentary package. That's the width of that sedimentary package. And again, here is the contact of the saprolite. Okay, there, roughly there. We have almost 100 meters of saprolite above those lines. For once, we're not digging under an artisanal pit. So this is a discovery that was made right from mineralization on the surface. No artisanal miners, no pork knockers as you call in Guyana, had discovered this and so they did not dig pits.

21:00 So the full width or thickness of the saprolite is preserved and available to be mined. So this is an important feature of this deposit that the saprolite is preserved. And we don't have to deal with pits full of water and this kind of issue, which is very common in the region. We do have some very high grade zones. These 2 photos show visible gold. Of course, these are anomalies, like 1 kilo per ton. That's off the curve, but these are just interesting high-grade points. But the key thing is to have good mineralized widths, for example, at 2, 3 grams, that's what counts, that's what makes the deposit.

21:49 And with some sweeteners like high-grade gold veins inside, etc., which are there, we don't emphasize that too much, but we have strong smaller intersections as well to report. So that's the nature of this thing. Sedimentary rocks compressed between 2 granites and took a lot of distress and become totally mineralized. So again, what else do we have on the area to show for? This is another, that same geological map was talking earlier. We have this mineralized contact here between granites and to the right and volcanics to the left at 6 kilometers long we have the taco to zone which is 3.5 kilometers long we have barely done any work just a couple trenches and the soil geochemistry.

22:50 We are planning the drilling of that as we speak. And we're mobilizing reverse circulation to drill that area. We have the Kairuni zone, of course, which I've been talking about. Then we have what we call the caril zone, number 2 here. They're very faint soil geochem anomalies within the caril zone, which are hidden under a thick layer, what we call the direct crust, is the surface part of the weather profile and that we need to drill as well and then what we call the Brian zone here in the center of the project an area which is being is drained by all this alluvial material this is all alluvial gold here, this alluvial gold here, the same here that's alluvial gold, that's alluvial gold, that's alluvial gold, you want to go to the headwaters of this alluvial gold that's where the source of the alluvial gold is.

23:50 That's certainly the case. This is the Kairuni Creek. That's the source of the gold for Kairuni Creek. The Takotu Creek, there's a gold source here which we need to identify. There's a gold source here that we need to identify. Same works for brine zone. There's a very strong alluvial gold area and we see the brine zone as a source area, which we need to identify and eventually drill. So our priority is of course target number 1, Taku-2, then Karo Zone and eventually Brine. We won't be doing anything in Brine until by the end of the year. We have to of course, our priority is along this contact of the 2 zones. So we we do intend to deliver much larger much larger mineralized footprint than Cairo knee and By continue to explore this other targets So again as a summary slide this is again the same representation of that previous map that section the Carini zone which is 2.5 kilometers long.

25:05 That same line around 200,250 meters, which is our current projected, I had to say projected, We have not designed a pit yet. We want to drill the blue areas above that line through the infill. We'll demonstrate, we have already demonstrated the mineralization goes deeper than that. We'll continue demonstrating that. So We want to expand the mineralized zones. We want to continue exploring the other 3 targets. And so we're drilling throughout this year. We have the funding in place. We intend to announce what in Canada you call 4311 resources by the third quarter of this year and this will be the maiden resources and we want to emphasize that this resource will be like a report card it's not an end by itself We just need to provide our shareholders a documentation of what we found. They need to see concretely as a report on the resources, what we've been able to do. And that's a very tangible event when you announce your resources. That's something we are, our shareholders deserve to receive.

26:27 But we're looking as a report card. That's not the end of exploration. It will continue and I'm certain that whatever the results number will be, mineralization will be larger than that because there's still a lot of exploration work to be done. So we're also starting metallurgical work. In fact, we'll be shipping samples early next month. We'll be about 1 ton of rocks shipped to a Canadian lab for full metallurgical studies. We also just signed with a firm that is well known for its work in terms of environmental baseline. And that work is starting also in the month of July.

27:14 We want to demonstrate that, You know, we want to understand rather what the environmental base condition baselines are the physical conditions, etc and what the impact This project could eventually have on the environment We are already working an area which was heavily worked by artisanal mining, which is already impacted. We want to document that as well, so that our responsibilities are well defined. We have excellent relationship with the local community. We are the only company in Guyana that has an outreach program in health. We are representing the Ministry of Health in Guyana in terms of malaria control for the region. We have an active program and we are very proud of that. So that it's a long term relationship with our local stakeholders, which is already in place.

28:11 Well, thank you very much. This is our presentation. That's a photo of our camp. Geologists coming back to camp after a day's work in the field and you'll certainly be welcome to visit sometimes. Thank you. I'll be happy to take some questions. Wonderful, thank you Carlos. I'd like to remind everyone in the audience, if you'd like to ask a question, please do so using the Q&A tab down on the right hand side of your screen. Carlos, we've already had some questions come in, so I'll get right into it. First question, is the company financed for everything it intends to do this year? Yes, we are. Of course, as a junior company, that's a key aspect. We depend very much on our shareholders and on the support we have from our shareholders. And we are very happy with the support we've had recently.

28:59 We are currently, Our current budget in terms of drilling fits well within our means, what we have available. And of course, we're not spending the entire amount in the current program. And so we're prepared to do this work and we're financed for that. Wonderful. Another question. How many or who are the analysts that are covering your company? We have, well, an increasing number of analysts covering us. We just had a visit to the project last month by a group of mining analysts.

29:45 We currently have cover from Paradigm, Del McLean for example. We expect groups like Sprott, Cormark and others to take up coverage as we speak. These are analysts that have visited the project, have looked at the data, and are preparing write-ups on us. Of course, they are independent. We cannot comment on their conclusions, but these are very smart people. They've seen a lot of projects, and they certainly provide very useful information for our shareholders. Thank you for that. Next question, when are you planning to do a feasibility study? Well it's a bit early for that.

30:31 We have, as I said, we have not even published a 43-101 mineral resource estimate. That will happen later this year. But we are, We would eventually be prepared for that of course when you say we're doing a metallurgical work And we're doing environmental baseline work This is all in preparation There's all the disciplines that you need to do or to look at in preparation for an eventual feasibility study. So we certainly will not do that this year. We will be happy to publish a resource. We want to advance, as I said, environmental and metallurgical testing to demonstrate what is the current environmental status, what is our impact on the environment, but also how extractable the gold is from the rocks we found mineralized.

31:32 So that we don't have a date for that. That will eventually happen. Oh, fair enough, thank you. Next question, how deep does the sapper light go? And does it cover the entire mineralized zone? On this part of the world, of course, we have a high, it's a very humid climate, and the water table is fairly active because the water table moves up and down, up and down. The 2 seasons, we're right now into the rainy season, of course, with a larger volume of rainfall. And of course, the water penetrating the surface weathers the rock. Some minerals get some chemical reactions. Some minerals, or elements rather, get enhanced. Other gets depleted.

32:21 And this water table moves up and down forming the weather profile in our case down to about 100 meters depending as well on how much the fracture the rock is, they become permeable, so you can have a deeper weather profiles, more than 100 meters or so. We just drilled a water well for our camp, and we hit a hard water table, between that particular place, not far from this picture here, which is about 30 meters in depth. That's where we want to install a water, to pick up water for our camp and of course that varies from depending on the season of the year.

33:07 Our environmental baseline will cover a minimum of 2 seasons, we start working now in the rainy season and then we'll be working on the dry season which is the peak around October. So that is a 2 distinct seasons and again the completing the answer the saprolyte is almost covers continuously the deposit the depth will vary but we don't have actually anywhere on the area which you don't have some suppolytic material. Very much unlike Canada, you're looking at rocks and trying to figure out what they were, because you're seeing the masses of clay, clayish material.

33:55 Right, okay. Next question, do you have a relationship with G2 Goldfields? Our relation is we're good neighbors. We're good neighbors. And as I showed earlier, they're looking, we have this mineralization is a fairly sizable system. We're looking at the South Park and they're looking at the north part. And the mineralization of course is continuous between the 2. They recently announced their own resources at about 1 million ounces. And what looks like will be an underground deposit, that's the nature, and ours is the extension of that but as an open pit deposit. They have some very high-grade zones but deep that will need to be extracted by underground methods.

34:45 We don't have as high-grade zones but they are closer to the surface so amenable to open pitable methods. So we're very good neighbors and that's about it. We visit each other, we help each other, but these are 2 distinct companies with 2 distinct projects at this point. All right, well, fair enough. Thank you. It's always good to be good neighbors. Is there a chance that the overall OCO resources could exceed the 10 million ounces? You know, the question reads, you know, we're looking at, you know, 6 kilometers of mineralized strike only on the east part of the property. So is there a chance? Well it's, as a geologist I cannot comment on this. It's we are, I can't really comment in any numbers at this point. It's we're not there yet. That's one thing for sure.

35:34 We're certainly quite a ways from 10 million ounces. We will find out in September what we have. I think it will be an interesting number, a significant number, but it's premature to say if we can reach 10 million ounces. Of course, these are early days. And for example, when you looked at the Roseville project in Suriname, I did the early stage exploration for that project. When Cambior made a decision to go ahead with that project, they had about 2 million ounces in resources at that time or reserves. And of course, Roseville has produced over 13 million ounces. So these things, you know, you have when you do exploration, you have to put a target, estimate what is profitable to produce with that target, but you continue to do exploration, you never really stop, and nobody knows what will eventually become.

36:36 And of course, if you combine our resources with G2 resources, that could be a significant number. But it's a bit early to say that. No, fair enough. Well, listen, Carlos, I really appreciate you coming on today, delivering this great presentation and going through these great questions. We're coming up on time today. So I want to thank you, of course, as I just have, as well as everyone who submitted questions. If you didn't get a chance to think of a question, ask that question. If you'd like to follow up with us, you can reach out to us at 6 or of course you can use the contact information provided on the sheet currently up on your screen to get in contact with Reunion Gold. You can also of course contact them on their website, reuniongold.com. For Carlos, before we wrap up for the day, I'd like to hand things back to you for just some closing remarks. Very good. Thank you very much again for this opportunity. Thank you for listening.

37:24 We are, as I said, very excited, very pleased with the results so far. We look forward to continuing delivering good news. And thank you for being our shareholder. If you're not there, consider us as a company to invest. We're very proud of what we do and we want to continue to provide good returns. Great to talk to you. See you soon. Bye bye.