The Company recognises strong potential in the Lorne Porphyry District, part of the globally significant Caledonian Belt which stretches across both sides of the Atlantic, connecting the UK with the USA, Scandinavia, and Greenland. Although gold occurrences in Scotland's Caledonian Belt have been recognised for millennia, the Company is among the first to employ modern exploration strategies aimed at potentially uncovering economically significant deposit(s).
For resources, reserves and data referenced in the figure on this slide please see [1] – Osisko Metals Incorporated, NI 43-101 Technical Report Gaspé Copper Project, Effective Date: April 12th, 2022. [2] – OceanaGold Corporation, NI 43-101 Technical Report Haile Gold Mine, Effective Date: December 31, 2021. [3] – Galley et al., (2007). [4] – British Geological Society, Minerals in Britain, Copper. *The reliability of this estimate is unknown and does not constitute a reserve or resource. It is provided here purely for academic illustration purposes. [5] – Dalradian Resources Inc, Technical Report for the Curraghinalt Gold Project, Effective date: May 10, 2018. [6] - Eilu, P. (ed.), (2012). WGLD have not independently verified the validity or accuracy any of these figures or reports.
The highly prospective Caledonian Belt of Scotland and Ireland features three primary deposit types:
Mining activity in the Argyll region of Scotland has taken place periodically since the late 1790s, focusing on lead, copper, and gold. Early mining efforts were hampered by remote and rugged terrain, high transport costs, harsh weather, and challenging working conditions, rendering the operations both physically and economically unfeasible. The influx of cheaper imports further reduced the value of extracted minerals, leading to the abandonment of many mines.
Subsequent generations revisited these early sites, searching for newly recognised valuable metals within the mine spoil heaps. However, many of the original mine sites have since been reclaimed by nature, and the once-thriving lead and copper mines are now largely concealed beneath forestry plantations and natural vegetation.
Limited commercial exploration during the 1970s and 1980s indicated the possibility of economic deposits in the region, with the British Geological Survey (https://www.bgs.ac.uk/) strongly recommending further mineral exploration. Building on this recommendation, the Company acquired the Crown Estates mineral lease for a 250km2 package of Argyll and has since developed the Lorne Project, identifying two key prospect areas - Lagalochan and Ardlochan.
