The Goldbar Spider Lake Project
Strategically located within the Western Schreiber–Hemlo Greenstone Belt, with excellent infrastructure and year-round access.
Project Overview
Location & Property
- 20 km east of Terrace Bay and 30 km west-northwest of Marathon
- Thunder Bay Mining Division
- 148 mining claims
- 171 claim units
- 3,636 hectares
- Option to earn 100% interest
- Subject to 3% NSR
- Highway 17 with year-round access
- Rail corridor
- Power nearby
- Ontario, Canada
Regional Context
Hemlo–Schreiber Greenstone Belt
Proven Gold Endowment: The Hemlo–Schreiber Greenstone Belt hosts one of Canada’s most significant gold camps, including the Hemlo Mine, which has produced more than 21 million ounces of gold, demonstrating the belt’s ability to host large, long-lived gold systems.
Favourable Geological Setting: The belt consists of Archean-age volcanic and sedimentary rocks affected by major regional deformation and shear zones—geological features commonly associated with significant orogenic gold deposits throughout the Canadian Shield.
Underexplored Discovery Potential: Despite its proven endowment, large portions of the belt remain underexplored by modern exploration methods, providing opportunities to apply contemporary geological models, geophysics and geochemistry to identify new drill targets.
Established Mining Infrastructure: The region benefits from year-round road access, rail infrastructure, electrical transmission, nearby airports and experienced mining communities, helping to support efficient exploration and future project development.
Tier-One Mining Jurisdiction: Located in Ontario, the project benefits from a stable regulatory framework, secure mineral tenure, an experienced mining workforce and access to one of the world’s largest mining finance centres through the CSE.
Located within one of Canada’s most productive gold belts, with more than 21 million ounces of historic gold production from the Hemlo Mine.
Geological Setting
Regional Geological Setting
The Goldbar Spider Lake Project is situated within the Western Schreiber–Hemlo Greenstone Belt, part of the Archean Superior Province.
The property contains:
- Mafic volcanic rocks
- Felsic volcanic rocks
- Sedimentary units
- Granitic intrusions
- Regional shear zones
Exploration History
Four Decades of Exploration, Modernized in 2026
1980s
- Geological mapping
- Geological mapping
- Rock sampling
- Initial discoveries
1990s
- Diamond drilling
- Channel sampling
- Geophysics
- Gold occurrences
2000s
- Property consolidation
- Historic compilation
- Additional mapping
2026
- NI 43-101 Technical Report
- Helicopter VTEM Plus Survey
- Digital compilation
- Modern exploration targeting
Historical Exploration Highlights*
Historical exploration identified multiple gold, copper and zinc occurrences across the property, demonstrating the presence of a fertile mineralized system and supporting continued exploration.
Geological mapping, sampling and drilling documented hydrothermal alteration, sulphide mineralization and favourable structural settings consistent with both orogenic gold and volcanogenic massive sulphide (VMS) exploration models.
Modern airborne VTEM Plus surveying completed in 2026 identified multiple conductive horizons and seven priority conductive zones, providing new targets for systematic follow-up and drill testing.
*Historical exploration has not been fully verified by the Company and should not be relied upon.
2026 Airborne Geophysics
2026 VTEM Plus Airborne Survey
Modern Airborne Survey
262 line-km of helicopter-borne VTEM Plus electromagnetic and magnetic surveying completed in April 2026 across the Goldbar Spider Lake Property.
Seven Priority Conductive Zones
The survey identified seven discrete late-time conductive zones (A–G) representing priority targets for follow-up exploration and geological evaluation.
Integrated Target Generation
Several conductive zones are coincident with magnetic highs and favourable geological settings, providing a modern framework to prioritize ground exploration, geophysical modelling and future drill targeting.
Why this matters: The 2026 VTEM Plus survey represents the first modern property-wide geophysical dataset used to systematically prioritize exploration targets. By integrating electromagnetic conductors with historical geological and geochemical information, KRAIT can efficiently advance the highest-priority targets toward drill testing.
Methodology
Exploration Model: Data-Driven Target Generation
Integrated Geological Understanding
Regional geological mapping defines favourable rock units, lithological contacts and structural trends that may host gold mineralization.
Structural Interpretation
Major faults and shear zones provide potential pathways for hydrothermal fluids and are important controls on gold deposition.
Hydrothermal Alteration
Alteration minerals help identify areas where mineralizing fluids have interacted with favourable host rocks and may indicate proximity to gold-bearing systems.
Geochemical Vectoring
Rock sampling and geochemical anomalies assist in identifying mineralized trends and prioritizing areas for additional exploration.
VTEM Conductors
Airborne electromagnetic surveying identifies conductive zones that may represent sulphide mineralization or other geological features requiring follow-up investigation.
Integrated Target Ranking
Geological, geochemical and geophysical datasets are evaluated together to identify and prioritize the highest-quality exploration targets for future drill testing.
KRAIT’s exploration strategy integrates multiple independent datasets to reduce exploration risk and prioritize the most prospective targets for systematic evaluation.
Exploration Opportunity
Multiple High-Priority Exploration Targets
Seven Priority VTEM Conductors
The 2026 VTEM Plus survey identified seven discrete conductive zones (A–G), providing multiple high-priority targets for systematic follow-up exploration.
Multiple Mineralizing Systems
Historical exploration identified gold, copper and zinc occurrences together with hydrothermal alteration, suggesting the property may host more than one style of mineralization.
Favourable Structural Setting
Regional shear zones, favourable volcanic stratigraphy and interpreted structural intersections provide geological settings capable of focusing mineralizing fluids.
Modern Exploration Potential
Historical exploration was completed prior to modern geophysical interpretation and integrated geological modelling, leaving significant opportunity to refine drill targets.
Systematic Discovery Approach
KRAIT intends to integrate geology, geochemistry and modern geophysics to prioritize the highest-quality drill targets and maximize exploration efficiency.
Methodology
Exploration Model: Data-Driven Target Generation
Phase 1
Data Compilation
- Historical database review
- QA/QC
- GIS compilation
- Target ranking
Phase 2
Geological Evaluation
- Mapping
- Prospecting
- Rock sampling
- Ground truthing
Phase 3
Target Refinement
- Geological interpretation
- Geophysical modelling
- Priority ranking
Phase 4
Drill Preparation
- Drill targeting
- Permitting
- Program planning
Recommended Budget — Phase 1 Exploration Program
As recommended in the independent NI 43-101 Technical Report.
CAD $250,480
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