RNC MINERALS Qiqavik : A New District Scale Au-Cu Camp? November, - - PowerPoint PPT Presentation

RNC MINERALS Qiqavik : A New District Scale Au-Cu Camp?

November, 2016

TSX: RNX

Cautionary Statements Concerning Forward-Looking Statements This presentation contains "forward-looking information" . Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that West Raglan, or any of RNC’s other property interests , will be placed into production. Factors that could affect the outcome include, among others: the actual results of exploration activities at West Raglan; inability to raise the funds necessary to advance exploration activities; general business, economic, competitive, political and social uncertainties; future prices of metals; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction

• activities. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such

forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com. Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this presentation and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. NI 43-101 Compliance All technical information in this presentation has been prepared by or under the supervision of Alger St-Jean, P. Geo., Vice President, Exploration of RNC, a Qualified Person as defined in NI 43-101. Reference is made to the press release titled “True North Nickel Discovers Two New High Grade Gold Mineralization Zones at Qiqavik and Extends Mineralized Trend to Over 40 km” published by RNC on September 19, 2016. Information concerning third parties in this presentation is taken from sources that RNC believes to be reliable, but RNC has not verified the information and does not assume responsibility for such third party information.

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Disclaimer

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RNC Project Interests

Royal Nickel is a mining, exploration and development company advancing several Au, and Ni-Cu-PGE projects in top mining jurisdictions.

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 Qiqavik Gold Property located in excellent mining jurisdiction in Northern Quebec.  Surface Gold anomalies up to 189g/t in three main zones over 40 km of strike length.  Claims held 100 % by TNN

• r option to earn 100%

interest  TNN is a private company held 68 % by RNC Minerals and 32% by Dundee Resources Limited.

Qiqavik Property

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High Grade Gold Trend >40km

Qiqavik’s high grade, surface Au-Cu-Ag trend extended to over 40 km E-W

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 Located in a virgin

volcano-sedimentary belt within an established mining district  70 km from Glencore’s Raglan Mine  Qiqavik Property extends over 40 km from East to West and covers 243 km2  Access through Puvirnituq and Camp Chukotat Airtsrip  Shipping through Salluit

Qiqavik Project Location

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Qiqavik Project Location

Camp Chukotat Air Strip: Suitable for Twin Otter

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Qiqavik Project Location

Logistics of transport Camp Chukotat

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Qiqavik Regional Geology

(Modified from Minifie et al. 2013, after Baragar and Scoates 1987).

• Qiqavik sits in the Cape Smith Belt

(CSB), which is part of the Trans Hudsonian Orogeny (THO)

• Extensive historical Au exploration in

the Manitoba/Saskatchewan extension of the belt with numerous success full Au Mines (Lynn-Lake Terrain)

• Historically Labrador Trough known

for Fe deposits, and Ni-PGE exploration, more recently gold.

• CSB has similar groups of rocks and

is underexplored for various commodities, specifically Au

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Qiqavik-Regional Geology

• Cape Smith Belt is comprised of tectono-

stratigraphic elements that appear to have accreted on the northern margin of the Superior during 0.2 Ga divergent- convergent tectonic activity the early Proterozoic Ungava Orogeny.

• The Cape Smith Belt is divided into North

and South Domains divided by the Bergeron Fault at the northern contact of the Chukotat group. Qiqavik sits in the North Domain.

Map after St-Onge and Lucas, 1993 and Lesher, C.M., 2007

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Qiqavik-Regional Geology

Syn- to Post Tectonic Intrusives Watts Group (1999 Ma) Ophiolite Parent & Spartan Groups (1898 to 1860 Ma) Spartan: Clastic Fore Arc Parent: Magmatic Arc Chukotat (1918 Ma) Komatiitic to N-Morb Basalts representing change in rift to oceanic crust formation Povungnituk (2038 to 1991 Ma) Sedimentary and Volcanic units associated with the rifting of the Superior Craton

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Property Geology –Parent Group

• Parent Group (1898 to 1830

Ma (Machado et al., 1993) consists of a volcanic sequence composed mostly

• f tholeiitic to calc-alkaline

basalt associated with felsic and mafic pyroclastics and local dacitic and rhyolitic flows (Lamothe 1994, Picard 1995)

• This represents volcanics

along an active margin in the first phase of compression in the trans Hudsonian Orogen and are affected by at least 3 phases of deformation (Picard, 1995)

Syn, Post tectonic intrusions Pre-, Syn- tectonic intrusions

*Cherty Fe Formations in the package

Geology Modified after Tremblay 1985 & Hervert 1984.

• The parent group is variably metamorphosed from greenschist to amphibolite facies.

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Qiqavik - History

1995 -1998 Falconbridge – SOQUEM

• FL discovered Cu-Zn showing, drilled 325m in 2 holes on an EM anomaly (base metal target)
• DDH PAR96-01 intercepted Au/Ag with Cpy-Py-Sph-Ga veins in silicified tuffs and cherts including 1.35m of 15.18g/t

Au and 20.7 g/t Ag (110-111.35m)

• Defined a linear mag anomaly coincident with showings (>1g/t Au) and extended prospecting along mag anomaly
• SOQUEM resampled in DDH PAR96-01 extended mineralized zone to 10.5m of 3.08g/t Au which includes 1.1m of

5.45 g/t Au, 0.59%Zn and 3.4m of 6.79 g/t Au and 0.37% Zn 2011-2012 Tectonic Resources – Corvus Gold

• Expanded property along strike of Mag anomaly to 12km
• Completed property-wide rock, till survey.
• Defined several till geochem anomalies (Au, Sb, Te, Bi)

Gerfaut Block on Regional Mag

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Qiqavik - History

2015 TNN Option Agreement

• TNN signs option agreement with Tectonic Resources and Holmstead/Geotest
• 10 days, 1 team prospecting on Gerfaut Block extends mineralization over 15 km with values up to 198 g/t.
• Following these positive results, property size more than tripled through staking with expansion westward

(currently 243 km2 )

2016 Exploration Focus

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Qiqavik – 2016 Exploration Summary

Geophysics

• 283 line-km of

ground mag

• 115 Km of Gradient

IP

• 58 Km of Dipole-

Dipole IP Prospecting (with portable XRF)

• 635 surface grab

samples

• 1793 Till (Frost

Boil) Samples

• Drilling 550 meters

in 6 holes

2016 Exploration focus

• n geophysics and

prospecting (30 days)

• 5 teams starting at 1km spaced traverses, sampling every 100m down the line either till (frost boils) or rocks
• Real-time portable XRF till anomalies plotted daily looking for indicators (As) known to be associated with Au on the

property

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Qiqavik High Grade Au & Cu Mineralization

• 2016 follow up on portable

XRF arsenic till anomalies led to the discovers of two new gold bearing zones: Esperance & Aurora

• Extends High grade Au-Cu

mineralized trend to over 40 km

• Limited drilling. Historical drill

hole: 3.08g/t Au over 10.5m including 5.45g/t Au, 0.59% Zn over 1.01m and 6.79 g/t Au and 0.37% Zn over 3.4m.

• 2016 Drilling: 550 meters in 6

holes, highlights: QK-16-006 1.43m @ 1.17g/t

Qiqavik Gold Assay Results

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Qiqavik High Grade Au & Cu Mineralization

Qiqavik Copper Assay Results

• Esperance is

associated with high grade Cu

• Several
• ther Cu

showings in

• utcrop on

the property

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2016 Exploration Results: Aurora

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2016 Exploration Results- Aurora

Map of Aurora results on preliminary geology by S. Desbiens (IOS)

• Visible Au in Quartz Veins trending parallel

to granitic body +/- pyrite, pyrrhotite, chalcopyrite, galena, sphalerite and, more rarely, arsenopyrite

• Quartz veins up to 30 cm in width are

parallel to granitic body dipping 45 to 75degrees to the NE.

• The granitic unit has been mapped over a

600 metres WNW-ESE length, using

• utcrops and subcrop boulders. Its

maximum apparent surface thickness is 75 metres.

• The granite is bounded by a basalt ridge to

the south and by intermediate to felsic tuffs, sediments, and basalt to the north. Metasomatic alteration occurs at the southern contact of the Aurora microgranite with basalt (fuchsite)

• Locally high numbers in Sb on a veins

with some copper ( up to 0.27% Sb)

• This target has not been drill tested and

remains open for 2017 targeting

• 2 VG occurrences, very low sulfide content
• Elemental associations: Ag, As, Bi, Pb, Sb,

Zn, W

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View of the Aurora microgranite occurrence Looking to SE

2016 Exploration Results- Aurora

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Sample P132942 34.8 g/t Au, 45.0 g/t Ag, Strike length and direction of quartz veins parallel to granitic body

2016 Exploration Results- Aurora

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2016 Exploration Results: Esperance

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2016 Exploration Results: Esperance

Esperance Local Geology After G. Ivanov (IOS)

• Gold and Copper mineralization

at the Esperance Zone is associated with a large mineralized shear zone trending ENE-WSW hosting disseminated to massive sulphides.

• Mineralization occurs parallel

to this trend for over more than 500m at surface and potentially extends to the West an additional 400m (open to the east)

• Various styles of structurally

controlled mineralization: sheared mafic volcanics with disseminated to massive aspy, auriferous pyrite-chalcopyrite quartz veins, auriferous pyrite bearing schists.

• Elemental associations: As, Co

(up to over 1%), Bi, Zn

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2016 Exploration Results: Esperance

• Highly resistive areas

coincide with either areas of intense silicification or granodiorite bodies (pre- or syn-tectonic Intrusives)

Esperance on Resistivity

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2016 Exploration Results: Esperance

• Mineralization at Esperance

is associated with high sulfide contents (opposite

• f Aurora).
• Mineralized trend is co-

incident with area of moderate to high

• chargeability. This zone of

high chargeability is almost continuous for the entire trend covered with IP (over 1.2 km) and is open to the West.

• There are additional

currently unexplained parallel chargeable trends

Esperance on Chargability

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Esperance Zone Looking Northwest Sample P137665 18.65 g/t Au Sample P137664 21.3 g/t Au

2016 Exploration Results: Esperance

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Sample P137659, 9.65g/t Au, 1.2% Cu Sheared basalt with disseminated and massive arsenopyrite, felsic breccia in shear

Sample P137663, 6 g/t Au, sheared basalt with arsenopyrite

2016 Exploration Results- Esperance

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Gerfaut Block: 2016 Exploration Drilling

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Gerfaut Block– 2016 Exploration -Drilling

• 2016 drilling focused on Gerfaut Block where Au mineralization discovered in 2012 & 2015 and

was the focus of IP surveys in 2016

• This drilling returned several intervals grading greater than 1 g/t Au. The source of the high-

grade gold boulders in the Gerfaut Zone has not been identified; consequently this area remains prospective for future exploration.

• The most interesting drilling results were from hole QK-16-006 that was terminated at 56

metres before reaching target depth due to technical difficulties. This hole targeted a strong chargeability anomaly associated with a strong resistivity anomaly at 90 metres depth but intersected a zone of gold mineralization in the upper portion of the hole that yielded 1.17 g/t Au over 1.43m from 34.5 metres. This geophysical anomaly remains untested.

Table of significant results from 2016 Drilling

Source of Gerfaut boulders not found in drillholes (3 of 6 holes reached target), 3 targets

• pen.

Review of extensive data collected is ongoing

Hole Number From (Metres) To (Metres) Length (Metres) Au (g/t) QK-16-001 13.13 13.48 0.35 0.86 QK-16-001 27.60 28.16 0.56 1.68 QK-16-006 28.69 29.15 0.46 0.87 QK-16-006 34.50 35.93 1.43 1.17

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Ongoing Work: Tills and Displacement

Ice Flow Map After Stea 2011

Ice Flow Directions in the Ungava Peninsula

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Ongoing Work: Tills & Displacement

As (ppm)

• Aurora arsenic till anomaly 40m to the NE (same anomaly seen in Au, Sb, Bi, Be, W).

Confirms ice direction and gives indication for approximate displacement of till anomalies in this area of the property.

• Sampling frequency approx. 50m down line, smearing to north of anomaly ~100m

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Ongoing Work: Aurora Extension

• Au, W, Bi, Te Least Mobile

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Ongoing Work: Aurora Extension

• Au, W, Bi, Te Least Mobile

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Ongoing Work: Aurora Extension

• Sb, As, More Mobile

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Ongoing Work: Aurora Extension

• Sb, As, More Mobile

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Aurora on Total Mag Plunging to west?

• Possible extension of

Aurora to west for at least 2 km, the magnetic signature corresponding to the Fe formation to the north gradually decreases in strength while surface till anomalies continue

Ongoing Work: Aurora Extension

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Ongoing Work: ABG Zone

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Ongoing Work: ABG Zone

• West of Aurora along

a major structure a large till anomaly was identified (Te, W, As, Bi) now called the ABG Zone, 2km by 800m.

• Within the anomaly

small outcrops of Cu in hydrothermally altered quartz veins cross cutting local shistocity with Chalcopyrite +/- Malachite, Azurite up to 1.23% Cu and 0.45ppm Au

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Ongoing Work: ABG Zone

 Rocks in ABG Zone affected by 3 phases of deformation:  WNW-ESE schistosity (S1) in the tuff unit  Folding of the schistocity (F2)  E-W normal faults  Mineralization occurs parallel to the schistosity (pre-

• r syn-deformation)

 Quartz veins cut schistosity at moderate to high angles and may represent possible re-mobilization/ concentration of mineralization within extensional zones as a result of folding

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Ongoing Work: ABG Zone

V

Outcropping Quartz Veins in the ABG Zone Folding Dips Gently to SW, anomaly may continue at depth.

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Ongoing Work: Central Qiqavik

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Ongoing Work: Central Qiqavik

• Central Qiqavik on

the western edge of Gerfaut block, 2016 work identified several high grade boulders associated with a Till anomaly (Au, W, Cu, As)

• Silicified schist with

sericite, pyrite & chalcopyrite +/- Galena along planes

• f schistocity.

Proximal to Granodiorite Intrusion

• These are large

footprints, work is

• ngoing to

understand this area

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Ongoing Work: Metallogenic Study

Polished thin sections In 2015 thin section study of 5 samples to identify mineralization setting completed by Michel Gauthier (UQAM, Metallogenist, one of the discoverers of the Eleonore gold deposit) 2015 Metallogenic Study by Michel Gauthier (UQAM)

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2015 Results of Gerfaut Block Samples

 Mineralization was located within highly silicified, dolomitized and K-altered porous volcanic units  Mineralization pre-dates deformation and metamorphism and occured early in the volcanic history  These intensely silicified units were more resistant to deformation, preserving delicate, volcanic textures that would have been obliterated otherwise  Hence, the less deformed the sample, the better the grade  Mineral species, elemental association, timing and volcanic environment all point toward a metamorphosed low sulfidation epithermal model.  2016 work ongoing on samples from Aurora and Esperance, to confirm or adjust understanding spatially across property.

Sample ID135390 Euhedral syn-metamorphic pyrite that surrounds, pyrrhotite, calchopyrite and gold.

Ongoing Work: Metallogenic Study

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Ongoing Work: Intrusions

• Esperance and Aurora are considered intrusion related mineral occurrences
• Esperance is proximal to pre- or syn tectonic hornblend meso gabbro (Tremblay 1985).
• Aurora is contained within what is being called a microgranite.
• In the Gerfaut block and central Qiqavik the relationship of intrusives to mineralization is not

seen in outcrop. However, mineralization occurs proximal to pre- or syn tectonic granodiorite (Tremblay, 1985 & Hervet, 1984)

• 11 Samples collected for whole rock lithogeochemistry from the noted pre- or syn-tectonic

intrusives.

• Work to classify

and understand the compositions and implication with respect to

• bserved

mineralized

• ccurrences is
• ngoing

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High Grade Gold Trend >40km

Gerfaut

• Au, Ag, Cu, Zn, Pb mineralization in highly silicified, dolomitized and K-altered volcaniclastics.
• Associated with Pyrrhotite, Pyrite, Arsenopyrite and Galena.
• Mineralization follows and is proximal to a cherty Fe formation co-incident with a major structure. There are

several parallel structures in this block.

• The local rock package contains both intrusive and Fe-rich cherty layers.

Aurora

• Au mineralization in quartz veins in a felsic intrusive body, bounded to the north by an Fe-bearing sulfidic

sediment unit.

• Sulphides include pyrite, pyrrhotite, chalcopyrite, galena, sphalerite and, more rarely, arsenopyrite.
• Mineralization occurs in smoky quartz veins up to 30 cm wide trending parallel to the intrusive.
• Veins are zoned, with whitish quartz phases and various proportions of sulphides (trace to 8%).
• Grab sample assay grades up to 189 g/t. Visible gold was observed in two locations.

Esperance

• Au, Cu & Co mineralization associated with a large mineralized shear zone hosting disseminated to massive

sulphides in mafic tuffs and sediments.

• Mineralized trend extends to at least 500m along strike of the shear zone at surface.
• Breccia of intermediate to felsic intrusives are seen in the shear zone.
• Grab sample assay grades up to 32 g/t Au and 10.3% Cu.

Prospecting and mapping has outlined multiple mineral occurrences which may reflect the district-scale zoning of a dynamic intrusion-related Gold-Copper system.

47 70 Million Ounces of Gold production along the Larder Lake-Cadillac Fault # High density of Au-Cu mines over 50km along Cadillac Fault VS # new discoveries made at Qiqavik in 2012, 2015,2016 totaling 50 days of exploration

Unexplained geochem anomalies and high grade grab samples = more potential discoveries. 50km

Qiqavik- A New District Scale Au-Cu camp?

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Qiqavik -Summary

• TNN has acquired the most prospective part of the of an under explored

volcano sedimentary belt

• Au –Cu “Recipe” ingredients:

 pre-, syn- & post tectonic intrusions  Evidence of hydrothermal alteration  Cherty/Sediment Fe-formations,  Structures (shearing & thrusting)  Observed high grade Au, Cu, Ag, Zn, Pb mineralization at surface

• Mineralization at surface over 40km
• Potential for further discoveries on land package as indicated by surface

geochemistry.

• Potential to expand new discoveries with IP and drilling.
• Geophysical data (IP) data processing is ongoing, preliminary results

identify good drilling targets! Is Qiqavik the new next district scale Gold –Copper camp?

“Tip of the ice-berg”

TSX: RNX

ADDITIONAL INOFRMATION

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Gold Production in Canada’s North

Anico Eagle’s Meadowbank Mine Key Facts

Agnico Eagle New Release and Technical report dated February 11, 2015 Meadowbank Meliadine Category Au Au (oz) Tonnes Au Au (oz) Tonnes (g/t) (x000) (x000) (g/t) (x000) (x000) Total Proven & Probable Reserves 3.08 1,168 11,795 7.38 2,841 11,977 ​Total Measured & Indicated Resources 3.3 ​798 7,521 5.05 3,082 18,986 Total Inferred Resources 3.96 422 3,321 7.2 2,711 11,710 Agnico Eagle Meadow Bank Mine. Source: Agnico Eagle Website

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Qiqavik – Option Agreement Details

Tectonic Option

• TNN can earn 100% of the Gerfaut

property from Tectonic Resources by completing a total of $310,000 in exploration expenditures (completed) and making $400,000 in cash option payments over 5 years ($50,000 paid).

• Tectonic retains a 1.5% NSR. TNN

can purchase 1% for $1M. (93 Claims)

Holmstead Option

• TNN can earn 100% of the Goshawk

property from W. Holmstead by completing a total of $110,000 in exploration expenditures (completed) and making $105,000 in cash option payments over 3 years ($10,000 paid).

• Holmstead retains a 1.5% NSR. TNN

can purchase 1% for $1M. (5 Claims) 100% TNN

• 494 Claims (as of 09/14/2016)