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Karus Mining Corp.

TSXV:RDGLive AI agent

Karus Mining is the result of the business combination of Karus Gold and Theia Gold, with the latter having been founded by a number of mining and finance business persons, and the former having been originally financed by Yamana Gold and before it was purchased in 2023.

Investor website: https://wordpress-1111899-6469318.cloudwaysapps.com/

About

Karus Mining is the result of the business combination of Karus Gold and Theia Gold, with the latter having been founded by a number of mining and finance business persons, and the former having been originally financed by Yamana Gold and before it was purchased in 2023. Former Yamana executives founded Theia and were instrumental in the merger of Karus and Theia.

Verified company data

Cash position
not discovered
Shares outstanding
44186542
Fully diluted shares
50886137
Mineral resource
A high-grade orogenic gold project on Vancouver Island featuring confirmed bonanza-grade veins (up to 306 g/t Au) and significant bulk-tonnage potential on a consolidated, brownfield site.
Projects
["## Mineral Creek Project B.C. Canada\n\nA high-grade orogenic gold project on Vancouver Island featuring confirmed bonanza-grade veins (up to 306 g/t Au) and significant bulk-tonnage potential on a consolidated, brownfield site.\n\n## Project Highlights\n\n- **Location & Access:** Located on Vancouver Island just 10 km from Port Alberni (and 35 km from Nanaimo), the project offers superior logistics with sealed road access to the property gate and a well-maintained network of forestry roads allowing for year-round exploration.\n- **High-Grade Discovery**: 2023 drilling confirmed the presence of bonanza-grade gold shoots, highlighted by an intercept of 306 g/t Au over 1.0 meter (Hole MC23-08).\n- **Scale**: A large, consolidated land package of 51 mineral claims totaling 13,286 hectares within the historic China Creek mining camp.\n- **Dual Potential**: Recent results demonstrate potential for both narrow, high-grade underground targets (Linda/Ember zones) and broad, open-pit style bulk tonnage (Mineral Creek Zone: 1.08 g/t Au over 58.4 m).\n- **Brownfield Asset**: Over $25 million in historical exploration work completed between 1979 and 2012, providing a robust dataset of >340 historical drill holes and past production history.\n\n## Geology & Exploration Targets\n\n- **Structural Setting**: Mineralization is hosted in the hanging wall of the Mineral Creek Fault, a major north-trending strike-slip structure associated with the Cowichan Fold and Thrust System.\n- **Primary Mineralized Zones:**\n - Linda & Ember Zones: Characterized by narrow, high-grade quartz-carbonate veins\n - Mineral Creek Zone: A potential low-grade, bulk-tonnage target\n- **Exploration Targets**: Beyond the main deposit, multiple targets have been defined by VTEM and soil geochemistry (Au-As-Cu), including the Gap, 900 Zone, Becherer, and Lizard Lake.\n- **Geochemical Footprint**: Soil sampling has outlined a gold anomaly covering approximately 7 km x 3 km, of which roughly 80% remains unexplored.\n\n## Significant Results\n\n### 2023 Drill Program Highlights (Karus Mining)\n\nThe 2023 campaign (15 holes, 4,774 m) was designed to validate historical data and test depth potential. It successfully confirmed two distinct styles of mineralization:\n\n- Hole MC23-08 (Bonanza Style): 306 g/t Au over 1.0 m (from 85.51 m)\n- Hole MC23-03 (High Grade): 66.25 g/t Au over 1.02 m\n- Hole MC23-11 (High Grade): 48.1 g/t Au over 0.41 m\n- Hole MC23-06 (Bulk Tonnage): 1.08 g/t Au over 58.41 m (from 29.06 m)\n- Hole MC23-12 (Bulk Tonnage): 1.1 g/t Au over 0.83 m (within broad low-grade halo)\n\n### Historical Drill Highlights (Pre-2012)\n\n- Linda Zone (Hole D88DM166): 122.37 g/t Au over 0.30 m\n- Linda Zone (Hole BTT-L58): 215.15 g/t Au over 1.65 m\n- Mineral Creek Zone (Hole Y89DH100): 1.70 g/t Au over 71.70 m\n- 900 Zone (Hole D87DH50): 23.65 g/t Au over 21.80 m\n\n## Strategy & Regional Exploration\n\n- Creating value by expanding the known high-grade zones while evaluating the larger bulk-tonnage system.\n- Follow-up on the 3,011-sample soil program (2022), which identified coincident Gold-Copper anomalies at the Gap and Lizard Lake targets.\n- Incorporating large volume of historical geological information into a modern database.\n- Once complete, utilize the integrated model to define drill targets for a planned H2 2026 drill program.\n- Drill programs are planned to test the depth extent of the Linda/Ember veins and step out along the Mineral Creek Fault."]
Leadership
Jason Bahnsen (CEO, Canadian/Australian mining engineer with over 35 years of experience in natural resources operations, finance, and company leadership. He has held various roles in mine development and investment banking, and has served as CEO for several resource companies.), Manni Buttar (Director, Chartered Professional Accountant with a Masters in Accounting and Finance from the University of Waterloo, currently Vice-President – Business Development at SCP Resource Finance LP.), Alex Gostevskikh (Former Interim CEO, not discovered)

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