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PAINCHEK LTD — Capital/Financing Update 2015
Mar 16, 2015
65534_rns_2015-03-16_b77d1573-a78e-4be0-a462-6441157c90e5.pdf
Capital/Financing Update
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MinQuest Adds the High Grade CuZn-Pb-Au-Ag “Marg” VMS Deposit To its Copper Project Portfolio
Highlights
-
MinQuest has acquired the rights to earn up to a 75% interest in the Marg Project, a Cu-Zn-Pb-Au-Ag VMS Deposit located in the Yukon Territory of Canada;
-
Project hosts the high-grade Marg VMS Deposit containing a total Mineral Resource of 11.74Mt at 1.27% Cu, 3.23% Zn, 1.55% Pb, 0.61g/t Au and 39.78g/t Ag (3.6% Cu Equivalent)* ;
-
MinQuest’s initial work on the project will be to undertake a limited drill program to collect samples for metallurgical test work, the results from which will allow the accuracy of economic model for the project to be enhanced, which is a Key Decision Point for the commencement of a Feasibility Study;
-
The Marg Deposit is open along strike and at depth. MinQuest will look to expand the current Mineral Resource through extensional drilling, upon commencement of a Feasibility Study;
-
The stratigraphic horizon containing the Marg VMS Deposit continues for over 15km within the tenements defining the project area and several highly prospective targets have been identified that are yet to be properly drill tested;
17 March 2015
DIRECTORS
David Deloub Chairman
Jeremy Read Managing Director
Paul Niardone Non-Executive Director
Adam Davey Non-Executive Director
Kim Clark Company Secretary
SHARE INFORMATION
ASX Code: MNQ Issued Capital: 83,458,341 Fully Paid Shares 14,923,097 Unlisted Options
CONTACT INFORMATION
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Good infrastructure exists within the central part of the Yukon, where the Marg VMS Project is located, with a paved main road and an approved upgrade to a 138kV power transmission line within 40km of the project area. The project is accessible via a winter road that extends from the main paved road into the project area and a 380m air strip;
-
With the acquisition of the Marg project and its existing Fyre Lake Copper Project, MinQuest’s project portfolio now contains 700,000t (approx.) of contained Cu Equivalent metal at a grade of 3% CuEq. Copper is currently trading at US$5,858/t.
Registered Office: 96 Stephens Road South Brisbane, QLD 4101 T: +61 7 3844 0372 F: +61 7 3844 0154 www.minquest.com.au
MinQuest Limited ACN: 146 035 127
INTRODUCTION
MinQuest Limited (“MinQuest” or “The Company” ) (ASX:MNQ) is pleased to announce that it has entered into a farm-in joint venture agreement with Golden Predator Corp. ( Golden Predator ) of Hayden, Idaho. Under this agreement MinQuest has acquired the right to earn up to a 75% interest in the Marg VMS Project ( Marg ), located in the central part of the Yukon Territory, Canada. The details of the farm-in joint venture agreement ( Marg Agreement ) and the consideration payable to Golden Predator, for the acquisition of various interests in the Marg Project, are outlined below.
MinQuest’s Managing Director Mr Jeremy Read said, “The Marg is a high grade, high quality, Mineral Resource and the ability to earn up to a 75% interest in the Project is extremely positive for MinQuest.”
“The Project is well serviced by local infrastructure and has an existing work program approval, which means drilling on the project can commence quickly in the northern hemisphere summer.”
“Our plan for the Marg is to collect samples for metallurgical test work this summer field season, allowing us to upgrade our Scoping Study financial model for the project and following that, make a decision regarding the commencement of a Feasibly Study in 2016, along with exploration to define additional mineral resources”
“MinQuest stands apart from other pre-production ASX listed copper companies, due to the overall combined grade of our Mineral Resources on the Marg and Fyre Lake Projects, which at 3% CuEq is significantly above 0.8% CuEq which is the average grade of ASX listed pre-production copper projects, as well as the contained metal within our projects being 700,000t of copper equivalent metal”, said Mr Read.
MinQuest’s joint venture partner on the Marg Project, Golden Predator is focussed on developing its portfolio of gold projects, particularly the Brewery Creek project in the Yukon, which is a past producing heap leach gold mine with a preliminary economic assessment delivered in 2014. Golden Predator also holds the 3 Aces gold project in the Yukon, which it continues to delineate and the Castle West project in Nevada.
THE MARG PROJECT
The Marg project is located in the central Yukon, approximately 40km east of Keno City (Figure 1). The property consists of 402 quartz mining claims covering over 8400 hectares adjacent to the Category A land of the Na-cho Nyak Dun First Nation (Figure 2).
Property Geology
The Marg project consists of the main Marg deposit, a volcanogenic hosted massive sulphide (VHMS) deposit hosted in the metasedimentary and metavolcanic rocks of the Devono-Mississipian Earn Group. The project also contains an additional 15km
long belt of the same felsic metavolcanic and metasedimentary rocks that host the Marg Deposit. Within this belt, soil geochemical sampling has outlined several very promising anomalies that have yet to be properly drill tested.
The Marg deposit consists of three continuous units that contain the majority of the total defined Mineral Resource. The deposit is strongly attenuated and contains an additional eight smaller stacked sulphide lenses. The deposit can be traced in the sub-surface for over 1400m along strike (Figure 3). The deposit is open in both directions along strike and at depth (Figure 4). The main economic mineral species are chalcopyrite, sphalerite and galena associated with pyrite occurring as massive to semi-massive lenses up to 20m thick (averaging 3m to 4m).
A simple evaluation of the deposit in terms of the mining potential shows that the higher grade resource is associated with the thicker zones and tends to be clustered in the central area of the deposit, plunging to the east. Of the 11.7Mt (at a 0.5% Cu cut-off), approximately 8.0Mt are thicker than 3.5m true thickness at grades greater than 2.0% CuEq. The deposit also dips from 45 degree to 70 degrees. These factors present a very positive scenario for the development of mining activities in the future.
Infrastructure
The central region of the Yukon Territory, where the Marg is located, has fairly well developed infrastructure. The Bellekeno Silver Mine, held by Alexco Resources, is located 40km to the west and was operational until late 2013. Currently, their processing plant is on care and maintenance while the company develops further resources and waits for a recovery in the silver price. Recently, the Yukon government has approved the upgrade of the existing transmission line to Keno City from 68kV to a 138kV line. This upgrade is expected to be completed by the end of 2018. From Keno City and the Bellekeno Mine, the Marg project can be accessed by a 40km winter road. The exploration camp is still in place on the project and the majority of the infrastructure is ready for the re-commencement of exploration. A small landing strip for light planes exists on the project and several larger pieces of construction equipment are also on site.
Exploration History
The Marg project area was first staked in 1965 by a joint venture between United Keno Hill Mines Ltd. and Canadian Superior Exploration Ltd. The project changed owners several times while exploration focused on finding a silver deposit similar to Bellekeno Silver Mine. In 1988, the first drill program commenced based on ground geophysics and geochemical soil sampling. A total of 33 diamond drill holes were completed and defined extensive VMS sulphide mineralisation.
The Marg deposit has been explored by nine diamond drill exploration programs from 1988 to 2008. A total of 33,876 metres of diamond drilling in 117 holes has been completed on the project. This drilling has defined mineralisation over 1400 metres strike distance, a down-dip distrance of 700 metres and across a stratigraphic thickness of approximately 100 metres.
The drilling has defined a total Mineral Resource at the Marg Deposit of 11.74Mt at 1.27% Cu, 3.23% Zn, 1.55% Pb, 0.61g/t Au and 39.78g/t Ag utilising a 0.5% Cu cut-off, which has been classified under the JORC Code (2012) as set out below.
| Classification | Tonnes (Mt) |
Cu % | Pb (%) | Zn (%) | Ag (g/t) | Au (g/t) | CuEq (%)* |
|---|---|---|---|---|---|---|---|
| Indicated | 3.96 | 1.57 | 1.92 | 3.90 | 49.40 | 0.79 | 4.45 |
| Inferred | 7.78 | 1.12 | 1.36 | 2.89 | 34.88 | 0.52 | 3.18 |
| Total | 11.74 | 1.27 | 1.55 | 3.23 | 39.78 | 0.61 | 3.61 |
*The basis of the CuEq calculation is defined in Table 3
The Marg Mineral Resource is reported in accordance with the guidelines of the 2012 edition of the Australia Code for reporting Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Full details on the resource can be found in the attached JORC Code – Table 1 and Appendices A and B.
The mineralisation at the Marg Deposit remains open down-dip at depth, to the west along strike and to the east along strike at depth. The last drill program was completed in 2008 and further drilling has not yet been conducted to define the extents of mineralisation.
The Marg Mineral Resource is estimated to contain a total of 423,814t of copper equivalent metal. MinQuest’s Fyre Lake project, situated in the south-east Yukon contains the Kona Mineral Resource of 12.57Mt @ 1.56% Cu, 0.09% Co and 0.63g/t Au, which is 2.22% CuEq (see announcement to the ASX on 23 January, 2015). The Kona Mineral Resource is estimated to contain a total of 279,054t of copper equivalent metal. Therefore, MinQuest’s combined metal inventory for the Marg and Fyre Lake projects is 702,868t of copper equivalent metal at a overall grade of 3% CuEq.
Exploration Plan
MinQuest aims to explore the Marg project by drilling at depth and along strike with the intention to increase the size of the JORC compliant Mineral Resources at the Marg deposit. Significant exploration potential remains along the 15km strike length of favourable stratigraphy held within the extent of the projects tenements. The Jane Zone in particular represents a very attractive geochemical anomaly with mapping indicating the Marg VMS bearing horizons exists in the area (Figure 5). MinQuest will test the Jane target, and other targets with the aim to add significantly to the currently defined Mineral Resource within a short distance from the main project site (<20km).
MinQuest also plans to initiate studies for the purpose of updating a Scoping Study. The metallurgical information on the project is limited and work is required to confirm the potential recovery of the various economic elements. MinQuest will select a reputable metallurgical testing company and complete this work from drilling conducted over the northern hemisphere summer months. With this information, MinQuest will be able to update the Scoping Study and determine if a full Feasibility Study on the project is warranted.
Community
The Marg Property lies within a 4739 square kilometre area of Class ‘A’ settlement lands owned by the Na-Cho Nyak Dun (NND) First Nation – The Big River People, most of whose members reside in Mayo, Yukon. MinQuest is committed to developing positive relationships with the local communities in which our projects are located. Negotiations have already begun on the formation of a Memorandum of Understanding for Exploration Agreement with the NND. MinQuest will continue to pursue mutually beneficial agreements with the local community to that will allow for local knowledge and participation in and potential development of the Marg Project.
Commercial Terms of the Marg Project Agreement
The key terms of the Marg Project Agreement are set out below.
First Option
To acquire an initial 25% right, title and interest in the Marg Project, MinQuest will be required to:
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(i) following execution of the Marg Agreement (“Effective Date”), pay to Golden Predator CDN$50,000 prior to March 20, 2015.
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(ii) no later than 30 November, 2015 issue and deliver to Golden Predator, MinQuest Shares to a Value of CDN$50,000;
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(iii) on the first anniversary of the Effective Date, pay CDN$50,000 and issue and deliver to Golden Predator MinQuest Shares to a Value of CDN$50,000;
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(iv) prior to the first anniversary of the Effective Date, MinQuest must incur not less than an aggregate CDN$500,000 in exploration expenditures on the Property;
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(v) prior to the second anniversary of the Effective Date, MinQuest must incur not less than an additiional CDN$1,900,000 (or aggregate CDN$2,400,000) in exploration expenditures on the Property.
Second Option
Upon earning a 25% interest in the Property, MinQuest can, within 30 days of earning the 25% interest, elect to proceed with the second option to earn an additional 26% interest in the Property, for an aggregate 51% interest,
by:
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(i) on the second anniversary of the Effective Date, pay CDN$100,000 and issue and deliver of MinQuest Shares to a Value of CDN$100,000 to Golden Predator;
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(ii) prior to the third anniversary of the Effective Date, MinQuest must incur not less than an addition CDN$1,700,000 (or aggregate CDN$4,100,000) in exploration expenditures on the Property.
Third Option
Upon earning a 51% interest in the Property, MinQuest can, within 30 days of earning the 51% interest, elect to proceed with the third option to earn an additional 24% interest in the Property, for an aggregate 75% interest in the Property, by:
- (i) prior to the forth anniversary of the Effective Date, MinQuest must incur not less than an addition CDN$4,000,000 (or aggregate CDN$8,100,000) in exploration expenditures on the Property;
Upon MinQuest earning an aggregate 75% interest in the Property, Golden Predator has the right and option, at its sole discretion (and will notify within 7 days) to either:
- (i) enter into a Joint Venture agreement on industry standard terms and conditions. Both parties will develop the Property on a Joint Venture basis and will negotiate and execute an agreement (the “75/25 Joint Venture Agreement”);
or
- (ii) convert Golden Predator’s remaining 25% interest to a 3% Net Smelter Return Royalty with MinQuest acquiring 100% interest in the Property. MinQuest, by mutual agreement, will be able to buyout 1% of the Net Smelter Return Royalty for a total of $1,100,000, reducing Golden Predator’s Net Smelter Royalty to 2%.
Table 2: Tenements Comprising the Marg Project
Competent Person Statement - Mineral Resource
This Mineral Resource estimate and technical information related to the estimate in this news release on the Marg Mineral Resources is based on information compiled by Mr. A.A. Burgoyne (P.Eng), who is a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and Mr. G.H. Giroux (P.Eng), who is a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC). Mr. Burgoyne and Mr. Giroux provided information to MinQuest Ltd. as paid consulting work in their capacity as Competent Persons and the results or conclusions reported were not contingent on payments. They are professionally and financially independent of MinQuest and of the Marg Project. They have sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code) and “Qualified Person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr. Burgoyne and Mr. Giroux consent to the inclusion in this news release the information in the form and context in which it appears. The technical report can be found under Redtail Metals Corp. on SEDAR (www.sedar.com).
The information in this report that relates to exploration results is based upon information reviewed by Mr Chris Doornbos BSc (Hons) who is a Member of the Australasian Institute of Mining and Metallurgy and a Professional Member of the Association of Professional Engineers and Geoscientists of Alberta. Mr Doornbos is a full time employee of MinQuest Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‘. Mr Doornbos consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Mr Doornbos is the Exploration Manager of MinQuest and currently owns 1,278,788 Fully Paid Ordinary Shares and has the entitlement to a further 606,060 deferred consideration shares subject to relevant milestone events being achieved.
Forward Looking Statements
This announcement contains “forward-looking statements”. Such forward-looking statements include, without limitation: estimates of future earnings, the sensitivity of earnings to commodity prices and foreign exchange rate movements; estimates of future production and sales; estimates of future cash flows, the sensitivity of cash flows to commodity prices and foreign exchange rate movements; statements regarding future debt repayments; estimates of future capital expenditures; estimates of resources and statements regarding future exploration results; and where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to commodity price volatility, currency fluctuations, increased production costs and variances in resource or reserve rates from those assumed in the company’s plans, as well as political and operational risks in the countries and states in which we operate or sell product to, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s Annual Reports, as well as the Company’s other filings. The Company does not undertake any obligation to release publicly any revisions to any “forward looking statement” to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Copper Equivalence Notes
The Copper Equivalent (CuEq) values are calculated based on the metrics in Table 3, such that CuEq = Cu Grade + ((Zn Grade x Zn Recovery x Zn Price) + (Pb Grade x Pb Recovery x Pb Price) + (Ag Grade x Ag Recovery x Ag Price) + (Au Grade x Au Recovery x Au Price)) / (Cu Recovery x Cu Price)
Table 3 – Values used to calculate copper equivalence (USD)
| **Type ** | Value | Unit |
|---|---|---|
| Cuprice | $2.60 | $/lb |
| Znprice | $0.93 | $/lb |
| Pbprice | $0.81 | $/lb |
| Auprice | $1200 | $/troyoz |
| Ag price | 16.30 | $/troyoz |
| Cu recovery | 70 | % |
| Zn recovery | 75 | % |
| Pb recovery | 50 | % |
| Au recovery | 70 | % |
| Agrecovery | 70 | % |
It is the company’s opinion that the metals used to calculate the copper equivalent grade have a reasonable chance of being recovered and sold.
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460000 480000 500000 520000 540000
70�N
Inuvuk
U.S.A.
(Alaska)
Nome Fairbanks YUKON MARG McQuestenLake
PROJECT
Anchorage Whitehorse
60�N D A V I D S O N
CANADA
1,000 km R A N G E P A T T E R S O N
Prince Rupert Edmonton R A N G E
7100000 LOCALITY MAP Calgary 7100000
50�N 160�W 140�W Vancouver 120�W
5.165 Mt @ 302 g/t Ag, 1.4% Pb, MARG
3.8% Zn, 50.213 Moz Ag (indicated)
0.836 Mt @ 350 g/t Ag, 2.0% Pb, 11.74 Mt @ 1.27% Cu, 3.23% Zn,
4.9% Zn, 9.403 Moz Ag (inferred) 1.55% Pb, 0.61 g/t Au, 39.78 g/t Ag
Bellekeno
Silver Mine
Elsa
Keno
Tiny Island
7080000 Lake 7080000
Mayo Lake
Edwards
Lake
Janet
Lake
7060000 7060000
Williamson
Lake
Mayo
460000 480000 500000 520000 540000
MARG PROJECT - YUKON, CANADA
Town or settlement Highway
REGIONAL LOCATION MAP
River or creek Minor road 0 5 10 15 20 km
Lake Winter road Drawn: RRM Date: 24.02.2015 Revision:
UTM Projection. Zone 8. NAD83 Datum. Checked: C. Doornbos Drawing No.: MARG-001.mxd Figure 1
N R I D G E
STEWART
S O
N G E
McQuesten
V U S R A
N E L
STA
U
G
TRAIL
South
River
River
Dawson City 225 km
Whitehorse 400 km
L
A
D
Keno
Beaver
Ladue
U
E
RIVER
R
A
N
G
SILVER E
River
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----- Start of picture text -----
480000 500000 520000 540000
McQuesten
Lake MOUNT WESTMAN
D A V I D S O N MOUNT CAMERON MOUNT PATTERSON
R A N G E
P A T T E R S O N
R A N G E
LEYLA SHOWING
7100000 7100000
Camp & Airstrip
MARG VMS DEPOSIT
JANE ZONE
Bellekeno
Silver Mine
Elsa
Keno
Tiny Island
7080000 Lake 7080000
Roop
MOUNT ALBERT Lakes
Mayo Lake
480000 500000 520000 540000
Town or settlement Quartz Claim 0 5 10 km MARG PROJECT - YUKON, CANADA
River or creek Highway ACCESS MAP
Lake Minor road UTM Projection. Zone 8. NAD83 Datum.
Topographic form lines are shown Drawn: RRM Date: 25.02.2015 Revision:
Category A/B Land - NND Winter road at 500’ intervals. Checked: C. Doornbos Drawing No.: MARG-002.mxd Figure 2
Roop
Creek
G E
TRAIL
R A N
V U S
A
ST
U
G
River
River
SILVER
Keno
Creek
Beaver
Ladue
L
A
D
U
E
R
A
N
G
E
Duncan
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----- Start of picture text -----
525000 525500 526000
Mq
Mq
OPEN
(at depth)
7098500 DMps 7098500
DMv
DMps
DMv
DMps
Td
Mq
7098000 7098000
TRIASSIC
Td Gabbro, dolerite Mq
MISSISSIPPIAN
Keno Hill Quartzite
Mq
Quartzite and graphitic phyllite
DEVONIAN TO MISSISSIPPIAN
Earn Group
DMps
Argillaceous metasedimentary rocks
DMv Earn Group
Felsic metavolcanic rocks
525000 525500 526000
from Redtail Metals Corp., 2013
Massive sulphide horizon (at surface) Geological contact, accurate MARG VMS DEPOSIT - YUKON, CANADA
Massive sulphide horizon (at depth) Geological contact, inferred GEOLOGY MAP
0 100 200 m
Diamond drill hole and trace Fault, accurate
Drawn: RRM Date: 25.02.2015 Revision:
Fault, inferred UTM Projection. Zone 8. NAD83 Datum. Checked: C. Doornbos Drawing No.: MARG-003.mxd Figure 3
FAULT
HANGING
FO
WAL
L
O
OPEN
TW
A
LL
FAULT
CROSS-SECTION 525900E
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| DMv DMps Mq HANGING WALL FAULT FOOTWALL FAULT Mq DMps 96-51 89-34 D1 C B4 A2 7098000N 7098200N 1500m 1400m 1300m 1200m 1100m 1000m 900m SOUTH OPEN from Carne & Giroux, 2007 |
SOUTH | NORTH | Massive sulphide horizon Diamond drill hole and trace Geological contact, inferred Fault, inferred Mq DMps DMv Earn Group Felsic metavolcanic rocks Earn Group Argillaceous metasedimentary rocks Keno Hill Quartzite Quartzite and graphitic phyllite DEVONIAN TO MISSISSIPPIAN MISSISSIPPIAN Width m Cu % Zn % Ag g/t Au g/t Horizon 1.90 2.26 5.62 83.0 0.85 D1 1.59 1.16 2.70 44.2 0.44 D1b 3.35 2.56 5.25 156.2 1.17 D1a 2.50 1.46 4.10 61.0 0.75 C 5.05 1.50 4.84 67.5 1.06 B5 3.60 0.75 2.02 32.9 0.21 B3 3.55 1.05 5.21 58.3 0.92 D1 1.70 0.89 2.74 40.8 0.58 B5 4.91 0.57 1.84 27.4 0.34 B4 1.85 1.25 3.91 47.3 0.72 B3 3.36 1.34 3.99 47.3 0.58 D1 8.60 1.96 5.53 76.2 1.02 D1 1.22 0.62 2.10 39.5 0.27 C 4.30 1.10 3.54 68.8 1.22 A2 4.83 1.88 3.90 46.5 0.69 D1 5.71 1.51 4.87 70.1 0.75 C 0.55 1.65 4.82 63.1 0.62 B5 1.29 1.63 4.32 56.7 0.79 B3 3.43 2.33 3.22 43.0 0.83 D1 6.96 0.79 2.27 40.1 0.58 B5 1.86 0.87 2.23 43.5 0.34 B3 3.73 1.17 3.88 63.3 0.55 A2 1.75 0.73 3.08 54.5 0.69 A1 5.80 1.58 4.58 49.0 0.31 D1 |
||||||||||
| Hole 88-28 |
Width m 1.90 |
Cu % 2.26 |
Zn % 5.62 |
Ag g/t 83.0 |
Au g/t 0.85 |
Horizon D1 |
|||||||
| 88-21 | 1.59 | 1.16 | 2.70 | 44.2 | 0.44 | D1b | |||||||
| Mq | 3.35 | 2.56 | 5.25 | 156.2 | 1.17 | D1a | |||||||
| 2.50 | 1.46 | 4.10 | 61.0 | 0.75 | C | ||||||||
| 5.05 | 1.50 | 4.84 | 67.5 | 1.06 | B5 | ||||||||
| DMv DMps Mq HANGING WALL FAULT FOOTWALL FAULT DMps 96-51 89-34 D1 C B4 A2 OPEN |
Mq Mq 88-14 88-28 88-21 96-49 96-50 96-48 89-35 88-30A A1 B3 B5 |
3.60 | 0.75 | 2.02 | 32.9 | 0.21 | B3 | ||||||
| 88-30A | 3.55 | 1.05 | 5.21 | 58.3 | 0.92 | D1 | |||||||
| 1.70 | 0.89 | 2.74 | 40.8 | 0.58 | B5 | ||||||||
| 4.91 | 0.57 | 1.84 | 27.4 | 0.34 | B4 | ||||||||
| 1.85 | 1.25 | 3.91 | 47.3 | 0.72 | B3 | ||||||||
| 89-34 | 3.36 | 1.34 | 3.99 | 47.3 | 0.58 | D1 | |||||||
| 96-48 | 8.60 | 1.96 | 5.53 | 76.2 | 1.02 | D1 | |||||||
| 1.22 | 0.62 | 2.10 | 39.5 | 0.27 | C | ||||||||
| 4.30 | 1.10 | 3.54 | 68.8 | 1.22 | A2 | ||||||||
| 96-49 | 4.83 | 1.88 | 3.90 | 46.5 | 0.69 | D1 | |||||||
| 5.71 | 1.51 | 4.87 | 70.1 | 0.75 | C | ||||||||
| 0.55 | 1.65 | 4.82 | 63.1 | 0.62 | B5 | ||||||||
| 1.29 | 1.63 | 4.32 | 56.7 | 0.79 | B3 | ||||||||
| 96-50 | 3.43 | 2.33 | 3.22 | 43.0 | 0.83 | D1 | |||||||
| 6.96 | 0.79 | 2.27 | 40.1 | 0.58 | B5 | ||||||||
| 1.86 | 0.87 | 2.23 | 43.5 | 0.34 | B3 | ||||||||
| 3.73 | 1.17 | 3.88 | 63.3 | 0.55 | A2 | ||||||||
| 1.75 | 0.73 | 3.08 | 54.5 | 0.69 | A1 | ||||||||
| 96-51 | 5.80 | 1.58 | 4.58 | 49.0 | 0.31 | D1 | |||||||
| 0 100 |
200 300 m |
MARG VMS DEPOSIT - YUKON, CANADA CROSS-SECTION 525900E |
|||||||||||
| Dr | awn: RRM | Date: 25.02.2015 | Revision: | Figure 4 | |||||||||
| Ch | ecked: C. Doornbos | Drawing No.: MARG-004.mxd |
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515,000 520,000 525,000 530,000
Leyla Showing
!(^_ [VMS Deposit, Showing]
Thrust Fault
Geology
Diorite, Gabbro and Pyroxenite Marg VMS Deposit
Earn Group Argillaceous
Earn Group Metavolcanic
Hyland Group
Keno Hill Quartzite
Jane Zone
Marg Property Geology and Prospect Map Figure 5
TerritoryYukon NorthwestTerritories 0 1 2
^ Marg Quartz Claims First Nation Land MARG Winter Road
Faro RiverRoss Active A Land Kilometers www.minquest.ca
Whitehorse British ColumbiaWatsonLake B Land ¹ Location: 85 km NE of Mayo, Yukon1:40,000 [email protected]
Projection: NAD 1983 UTM Zone 8N
( (
Alaska
7,100,000 7,100,000
7,095,000 7,095,000
----- End of picture text -----
Marg
Deposit
Mineral
Resource
2013
-‐
JORC
CODE
-‐
Table
1
| Section 1: Sampling Techniques and Data | Section 1: Sampling Techniques and Data |
|---|---|
| Criteria |
Details |
| Sampling Techniques | The buried VMS mineralization of the Margdeposit was sampled bysurface diamond drilling. Three companies,MargJV,NDU Resources and |
| Yukon Gold Corp. Ltd. Completed 119 holes over 33,876.3 m of continuous NQand HQdiamond drillingin 1988 to 1997(5 seasons)and 2005 to 2008 |
|
| (4 seasons). Drill holes varied from 54m to 499m in length. | |
| Diamond drill core zones of volcanic massive sulfide mineralization were cut in half bymanual or diamond saw. The samplinglengths were 0.3 to |
|
| 3.1m of mineralized core. The 1.5 m to3.1 m intervals were largelyduringthe 1988program. Samplingof mineralization was mostlyin the 0.3 to 1.5m |
|
| interval range. Sample breaks were made at change of lithologyand VMS horizons. |
|
| A split sample of 0.5 m or longer was taken from underlyingand overlyingwall rock units of each mineralized zone of visible mineralization |
|
| Drillingwas completed over 1400m of strike length and about 700 m of down dipon drill linesperpendicular to strike and dipof VMS horizons. | |
| Drilling Techniques | Drillingfrom 1988 to 2007 was carried out byCaron Diamond Drillingusinga Longyear 38 drill. Drill core was not oriented. |
| Drillingin 2008 was byOrofino Drillingusinga JKS 300 hydraulic-helicopter-portable drill. | |
| Drill Sample Recovery | Core recoveryisgenerallyvery good with mineralized intersections average more than 90%. |
| All recovered drill core was thoroughlymeasured and the recoveries and rockqualitydata(RQD)were recorded first as hand written |
|
| logs and later this data were entered dailyinto a spreadsheet-style database on site. | |
| Logging | Drill core over theyears was logged for mineralization,lithologyand alteration andgeotechnical byexperiencedgeologist usingdrill logforms |
| developed byArcher Cathro & Associates. The mineralized intercepts were marked and sampled and logged in detail by qualifiedgeologists. |
|
| Nomenclature used was based on observed metamorphic assemblages. Correlated lithologies from drill hole are based on the best mechanical fit. |
|
| Care was taken to sample the same side of the core,identifysituations where mineralization is not evenlydistributed throughout the core |
|
| and recognizepotential bias that could occur due to incomplete core recovery. |
|
| The drill core wasgeologicallyandgeotechnicallylogged in detail and this level of detail was and is appropriate for mineral resource estimation. | |
| Sub-sampling and sample preparation |
The diamond drill core was split in half length-wise usinga manual core splitter or diamond saw. One- half of the mineralized core was sent for assay. |
| Certain sections of drill core(one-half of the remainingcore)were sent for metallurgical studies. In 2008 one-quarter of the mineralized core |
|
| was sent for metallurgical testing. |
|
| Qualitycontrolprocedures was appropriate for the industrystandard at the time. Duringthe 2005 through 2008 drillingseasons extensiveQA/QC |
|
| was done in accordance with Canadian NI 43-101 standards.. |
|
| The samplepreparation was appropriate. The samples were split,double bagged and securelystoredprior to direct shippingto ALS Chemex |
|
| Labs of North Vancouver,BC. The samples were weighed,dryed and crushed to 70% minus 2 mm,before a 250gsplit was taken andpulverized |
|
| to better than 85% minus 75 microns. |
|
| Duplicate samples wereprepared and analysed at Acme laboratories usingmethods similar to ALS Pulps and coarse rejects were sent |
|
| sent as check samples to Acme laboratories. |
|
| There was a continuous chain of command for the drill core samples. | |
| Quality of assay data and laboratory tests |
A 50gsplit of thepulverized fraction was dissolved in aqua regia and analysed for 50 elements bya combination of ICPMS and ICPAES techniques. |
| Atomic absorption was also used. A 30gram split was analysed forgold with a fire assay preparation and AAS finish. Over limit copper,lead,zinc, |
|
| and silver values were determined usingatomic absorption spectroscopy (AAS)methods. |
|
| Both ALS Chemex and Acme Laboratories were ISO 9001:2000 certified. In 2008 ALS Chemex completed multi-element analysis bythe ME-MS41 |
|
| method. The elements of economic interest are copper,lead,zinc,silver andgold. All analyses over 1% Cu,Pb,Zn were reanalysed. |
|
| In 2008 Cu,Zn,Pb,and Agwere analysed byICP-MS andgold byusingfire assayand ICP-MS. |
|
| The 2005 to 2008 duplicate,blank and standard analyses does not revel anydiscrepancies beyond normallyexpected analytical variability. The |
|
| 2005 to 2008 samplepreparation and analysis for the drilling programs were similar. | |
| Verification of sampling and assaying |
The four drilling programs of 2005,2006,2007,and 2008 undertookqualityassurance andqualitycontrolprograms. |
| All of the exploration work conducted on the MargPropertyfrom 1988 through 2008 wasperformed bycompetent, professionally qualifiedpersons |
|
| Due diligence studies bythe Competent Persons include those completed duringthe site visit in April 2011 and review of the data on this Property |
|
| duringApril and May2011 and November 2013 include: |
|
| Propertysite visit byCompetent Person in April 2011. |
| Verification of sampling and assaying |
A detailed review of a large database of technical reports andgeologic model with respect to controls on mineralization. . |
|---|---|
| Auditingand checkingof calculations leadingto mineral Resource estimate |
|
| Review ofQA/Qcprocedures. |
|
| Duplicate sample interval analyses byCompetentperson in 2011 from 5 drill holes completed in 2007 and 2008;thisgavegood repeatability |
|
| for all metals. | |
| Location of Data points | Hole collar locations were surveyed in 1988 byUnderhill EngineeringLtd. of Whitehorse |
| In 1996 a new baseline and a number of cross lines were established in byYukon EngineeringServices Ltd. from which theytied in theprevious drill |
|
| holes completed in 1988,1989,1990,and 1996. |
|
| The 1997,2000,2005 and 2006,2007 and 2008 drill hole collars were referenced with chain and compass to the 1996grid which was resurveyed |
|
| for location byUnderhill EngineeringLtd with differential GPS. In 2007 and 2008 Underhill resurveyed the drill holes usingdifferential GPS. |
|
| The drill holes are surveyed in UTM NAD 83 coordinates. |
|
| Down hole surveys included acid tests(1988),and later a Pajari down hole magnetic surveytool to measure horizontal and vertical deviations. |
|
| The 2005,2006,2007 and 2008 drilling programs used Icefield digital and Pajari down the hole surveys. | |
| Data spacing and distribution | In the earlydrilling years the drillingof mineralization was in the order of 80 to 100m spacing. Infill drillingfor most of the now defined east half |
| of the MargDeposit was completed at 40 to 50m spacing. |
|
| It is theQualified Persons opinion that the drill spacingand distribution is sufficient to establish thegeometryand continuityof the stratabound |
|
| VMS mineralization within its drill tested strike length. |
|
| Duringresource estimation drill holes were "passed through"geologic solids with the intervals within each solid capped. Uniform 1.5 m composites |
|
| were formed from capped assays to honour the boundaries of each solid. Note Section 3. | |
| Orientation of data in relation to geological structure |
It is the opinion of the Competentperson that there is no obvious bias between the samplingand the orientation of drillingalongthe trend and |
| plunge of the 9 massive sulfide lenses. Each mineralized zone or lens waspierced and sampled multiple times byseveral drill holes. |
|
| The mineralized massive sulfide lenses are subparallel,trend from 060 degrees to 090 degrees and dipfrom 30 to 50 degrees south. |
|
| Drillingwas done mostly perpendicular to stike and dip. | |
| Sample security | There was a continuous chain of command for the drill core samples. Samples were normallytransported to Mayo,YT to the |
| ALS Chemexpreparation lab in Whitehorse,Y.T. |
|
| For 2008 the core samples were delivered to G&T Metallurgical Services in Kamloops,BC. |
|
| Pre 2005 drilling programs(1988 to 1997)site securityat the MargDeposit followed normal miningcompanysecuritystandards of the time. Drill |
|
| core and bagged core samples were kept in a secure room orplace. | |
| Audits or reviews | The Competent Person completed a duplicate sampling program in 2011 of five drill holes. |
| In 2008 Yukon Gold Corporation completed an audit of the surveyand drill hole data includingdown-hole surveys. |
|
| In 2011 Redtail Metals Corp.,at the request of the Competent Persons,completed a full and detailed audit of the assaydatabase. | |
| The Competent Persons that have worked on the Marge Deposit have not identified anysignificant issues with respect togeological |
|
| understandingor exploration data integrity. | |
| Section 2: Reporting of Exploration Results | |
| Criteria |
Details |
| Mineral tenement and land tenure status |
As of November 30,2013 the Propertycomprised 402 YukonQuartz mineral claims in the Mayo MiningDistrict and owned and operated byGolden |
| Predator MiningCorp.(formerlyRedtail Metals Corp.)The Propertylies within settlement lands owned byNa-Cho Nyak Dun First Nations. The |
|
| mineral sub-surface rights to the Propertyexistedprior to the settlement with Na-C Nyak Dun First Nations. |
|
| The holder of existingmineral rights on settlement land has a right of access to exercise mineral rights,without consent of the First Nations. |
|
| The Competentperson has not reviewed the mineral title or status of the mineral claims since November 30,2013. The mineral claims were correctly |
|
| staked and recorded at the time of this report. There is no known impediments to exploration,regulatoryor environmental at the time. | |
| Exploration done by other parties. | Thepropertywas first staked byajoint venture between United Keno Hill Mines Ltd. and Canadian Superior Exploration Ltd. This stakingwas based |
| on results from a Geological surveyof Canada stream sediment survey. Prospecting,soil and stream sediment surveys were carried out in the search |
|
| for silver mineralization and,as none was found,the claims were allowed to lapse. |
|
| In 1982 the area was re-staked byZX Joint Venture between SMD MiningCo. Ltd., Chevron Minerals Ltd. And Enterprise Exploration Ltd. Exploration |
| Exploration done by other parties. | included hand trenchingingeochemicallyanomalous areas in the search for SEDEX lead-zinc mineralization. Enterprise abandoned their interest and |
|---|---|
| the Propertywas optioned to All-North Resources who earned an interest throughgeochemical andgeophysical surveys. |
|
| In 1987 NDU Resources Ltd. Purchased All-North's interest and Chevron converted to a 5% netprofits interest. This resulted in NDU controlling66 2/3% |
|
| interest of thejoint venture with Cameco with 33 1/3 %. The 1988program consisted of claim staking, geological, geochemical andgeophysical |
|
| surveys(VLF and Pulse EM) plus 6,038 m of diamond drillingin 33 holes,which defined extensive volcanogenic massive sulfide mineralization. A |
|
| 380m airstripwas completed and water environmental monitoringstudies commenced. The 1989program consisted of 1819 m of drillingin 5 |
|
| holes. Work in 1990 with 10 drill holes totaling4120 m. Further hand trenchingand environmental monitoringcontinued. Theproject was re- |
|
| activated in 1996 with 8518 m of diamond drillingin 29 holes;environmental water samplingwas completed. |
|
| In 1997 United Keno Hill Mines Ltd. Acquired the NDU interest and completed 2540 m of diamond drillingin 7 holes.. In 2000 Atna Resources Ltd. |
|
| purchased the United Keno interest in the Propertyand formed ajoint venture with Cameco. Exploration consisted ofgeological mapping,soil |
|
| sampling,andprospectingand completion of 1:5000 scale orthophoto base mapat 10 m contours. In 2005 Atna sold the Propertyto Yukon Gold |
|
| Corporation Inc. In 2005 1185m of diamond drillingover 4 holes. In 2006 2986 m of diamond drillingover 9 holesprogram was completed. |
|
| A resource estimate was completed byGaryGiroux in 2006. | |
| In 2007 a further 2395 m of diamond drillingover 7 holes was completed on the marge VMS lenses and a further 603 m of drillingover 4 holes on |
|
| outlyingtargets. In 2008 Yukon Gold completed a further 3674m of drillingover 6 holes;also,a resource estimate was completed. |
|
| In 2007 a further 2395 m of diamond drillingover 7 holes was completed on the marge VMS lenses and a further 603 m of drillingover 4 holes on |
|
| In 2009 Yukongold acquired a 100% beneficial interest to the Property. |
|
| In 2010 Yukon Gold went into bankruptcyand in 2011 Lance Capital Ltd. Acquired the Property. In early2011 Redtails Metals Corp.(now Golden |
|
| Predator MiningCorp.)completed an agreement with Lance Capital and acquired a 100% interest in the Propertyin October 2012. | |
| Geology | The MargPropertycontains a 15 km longbelt of favourable Devono-Missippian felsic metavolcanics and metasedimentaryrocks that host the Marg |
| Deposit. The MargDeposit,a volcanic massive sulphide(VMS)deposit is hosted within a longbelt ofgeologyfavourable for the occurrence of VMS |
|
| mineralization. The massive sulphide mineralization is recessive in nature and does not outcrop. Eleven stacked but internallycontinuous |
|
| disconnected sulphide layers arepresent although the bulk of the resource occurs within three layers,D1,B3 and B4. The massive sulphide layers |
|
| are upto 23m in thickness and average 3-4 m. This drillinghas defined mineralization over a 1.4 km trend distance,a down dipdistance of 700 metres | |
| and across a stratigraphic thickness of approximately100 metres. |
|
| The mineralized sheets or horizons are subparallel,trend from 060 degrees to 090 degrees and dipfrom 30 to 50 degrees south. The horizons are |
|
| upto 23m thick and average 3-4m. |
|
| Sulphide minerals consist ofpyrite,sphalerite,chalcopyrite, galena,tetrahedrite and arsenopyrite. In agangue of ferro carbonate,muscovite and | |
| magnetite. |
|
| Sulphide horizons varyfrom thin bands of massive sulphide at the centimetre scale with wall rock composed of semi-massive sulphide to |
|
| mineralogicallybanded or texture less massive sulphide and contact with footwall or hangingwall lithologies can be abrupt orgradational. | |
| Drill hole information | All drillingto date has been bywire line diamond core drilling. Drillingon the MargDeposit in 1988,1989,1990,1996,1997,and 2005 through |
| 2008 involved a total of 33,876.3 metres over 117 core drill holes. |
|
| Diamond drill hole data includinghole number,depth,northing,easting,elevation,azimuth and diparegiven in Appendix A. Figure 3 should be |
|
| referred to for drill hole locations on MargDeposit. The listingof significant diamond drill hole intersections aregiven in Appendix B. The reported |
|
| intersections are from drill holes that intersected the massive sulfide lenses approximately perpendicular to dipand trend. The estimated true |
|
| thickness of the intercepts is not reported. |
|
| The drillingwas completed over approximately1400 metres of strike length and about 700 metres down dipon drill linesperpendicular to the |
|
| dipand trend. | |
| Data aggregation methods | Reported mineralized intercepts were weight averaged from the original,uncut assayresults. The intercept lengths were determined firstlybased |
| upon distinct visual contacts, given the stratiform nature of the mineralization and second largelyon values that exceeded 0.5% copper. |
|
| Metal equivalents were not used forgeomodelling,resource interpolation and estimates,and reporting. |
|
| No cut-offgrades were appliedprior togeomodelling. | |
| Relationship between mineralisation widths and intercept lengths |
All mineralized intercepts were reported based on drill core lengths,not true widths. The reasoningbeingthat the stratiform VMS mineralization |
| is slightlycrenulated locallyleadingto differences in true widths. Most intercepts report mineralizationperpendicular to dipand trend of the rocks |
|
| and the VMS stratiform mineralization. |
|
| The resource method uses all intercepts toproduce agrid of blocks in which thegeomodellingfor resource estimation isgiven in Section 3. |
|
| The mineralized sheets or horizons are subparallel,trend from 060 degrees to 090 degrees and dipfrom 30 to 50 degrees south. The horizons are |
|
| upto 23m thick and average 3-4m. |
|
| Diagrams | Figure 3gives the diamond drill hole locations for the MargVMS deposit. |
| Figure 3 illustrates the MargDepositgeology,location of drill holes massive sulfide horizons. |
|
|---|---|
| Figure 4 illustrates a typical cross-section(525900mE)for the MargDeposit. | |
| Balanced reporting | Appendix B lists the table of significant diamond drill hole intersections. Drill holes with no significant intersections are also reported. |
| The MargPropertyhas been subjected to extensive soil samplingsurveys for copper,lead,and zinc at 50m by100m line spacing. |
|
| Severalparts of the Propertyare highlyanomalous and these results have,inpart,directed the drillingdone from 1988 to 2008. |
|
| Geophysicalground surveys including pulse electromagnetic and magnetometer were completed in 1988 and 1989. In 2006 Yukon Gold |
|
| completed a helicopter borne VTEM and magnetometer surveys over the MargPropertyat 200 m line spacingto define 447 conductors. Drilling |
|
| remains to be done on most of these conductors. | |
| Modal analysis indicates that there is a significant amount of interlockingbetweenpyrite and the target minerals of chalcopyrite, galena and |
|
| sphalerite. Metallurgical test studies in 2008give relatively poor bulk circuit recoveries with copper and lead recoveries of about 50percent each |
|
| into the final bulk concentrate although about 30% of the lead in the feed waspresent as a non-sulphide. About 75% of the zinc in the zinc circuit feed |
|
| was recovered into a zinc concentrate. Bench scale test work completed to date has not defined the mostprobable flow sheet for the |
|
| deposit and requires further work to test the option of initialproduction of a bulk concentrate against differential flotation of the copper and zinc. |
|
| further metallurgical work must be initiated and completed. | |
| Baseline environmental waterqualitysurveys were undertaken in 1988 and 1989 and continued in 1990,1996,and 1997. The findings indicate that |
|
| there are no significant or unusual environmental sensitivities associated with the MargDeposit. | |
| Further work | A comprehensive compilation of information,reports,maps,and other data on the MargPropertywith the objective of all data becomingdigital. |
| A 2800 m Phase 1 HQsize core diamond drilling program for metallurgical studies should be completed |
|
| Metallurgical test work to determine metal recoveries and define the flow sheets should be initiated and completed on metallurgical bulk samples | |
| obtained from the above diamond drilling program. |
|
| Continue discussions with Na-Cho Nyak Dun First Nations with regards to reachingan agreement for continuous access to the Property | |
| A PreliminaryEngineeringEconomic Assessment Report(ScopingStudy)should be completed once the metallurgical results are available. |
|
| Further(Phase 2)drillingand metallurgical studies should be budgeted. | |
| The MargDeposit is open alongtrend,downplunge to the east,and down dip;further diamond drillingis warranted with the object of |
|
| expandingthe resource. |
|
| Continued exploration should include follow-up prospecting, geochemical soil samplingand diamond drillingon untested Versatile Time |
|
| Domain Electromagnetic(VTEM)airbornegeophysical anomalies andgeochemical anomalies defined by previous operators . | |
| Section 3: Estimation and Reporting of Mineral Resource | |
| Criteria |
Details |
| Database integrity | A reviewof the geologicmodel with respect to controls on mineralizationat theMargDeposit. |
| Auditing and checking of calculations leading to Mineral Resource estimates, a review of the drill hole and analysis database and resource methodology parameters, and evaluation of mineralized cross-sections. |
|
| Data from-to intervals were checked for overlaps andgaps. Wheregaps in the data were found minimal values were inserted. | |
| Site visits | Due diligence studies by the Competent Person include those completed during the site visit in April 2011 and review of the data on this property during April and May 2011. This evaluation work in 2011 consisted of the following: |
Property sitevisit includingreviewofgeology,mineralizationand site setting. |
|
| Anexaminationofsome of the drillcore at theMarg campsitefrom the2007and2008 drilling programs. | |
| Adetailedreviewofalarge database of technical reports andmanymaps and sections dealingwith the property. | |
| A reviewof the geologicmodel with respect to controls on mineralizationat theMargDeposit. | |
| Auditing and checking of calculations leading to Mineral Resource estimates, a review of the drill hole and analysis database and resource methodology parameters, and evaluation of mineralized cross-sections. |
|
| Reviewof the QA/QC procedures. | |
| Geological Interpretation | The mineralized lenses were interpreted and modelled bycompany geologists from longsections,cross sections and levelplans. |
| The massive sulphide lenses were numbered A1,A2,A3,A4,A5,B,C,D1 and D2. Of the total holes supplied 96 intersected the interpreted massive sulphide lenses. | |
| A three dimensionalgeologic solids model wasproduced from longand cross sections. A total of 18 individual solids were formed within the 9 main |
|
| Geological Interpretation | mineralized lenses,namely: A1,A2,A3,A4,A5,B,C,D1 and D2. These solids were used to constrain the mineral resource estimate. |
| Dimensions | The drillinghas defined mineralization over a 1.4 km trend distance,a down dipdistance of 700 metres and across a stratigraphic thickness of approximately100 metres. |
| Estimation and modelling techniques |
Assays within the mineralized lenses were capped at 5.1% Cu,6.4% Pb,11 % Zn,20og/t Agand 5g/t Au. Uniform 1.5 m down hole composites wereproduced to |
| honour the boundaries of the mineralized solids. Composites were made from capped assays. |
|
| Pairwise relative semivariograms were used for each variable within the largest D1 Lens. This model was used for all other lenses. The semivariogramparameters |
|
| were used to orient and dimension the search ellipses for each lens. Ordinarykrigingwas used to interpolategrades into blocks 10 m(E-W),5 m(N-S)and 2.5 m |
|
| (vertical). The block model wasgenerated in GemCom software and the krigingwas completed usingTechbase Software. |
|
| The estimated blocks were compared to drill hole composites on sections and levelplans and found to be reasonable. | |
| Moisture and Bulk Density | A total of 117 specificgravitymeasurements have been made on the Marg project usingthe Archimedes methodologyon drill core. The results were compared to a |
| combined Cu+Zn+Pbgrade on a scatterplot. The regression equation was used to estimate a bulk densityfor a block based on the estimatedgrades for Cu+Zn+Pb. | |
| The results arepresented usinga Cu cut-off and then a Zn cut-off for the material within the mineralized lenses. At this time metal recoveries are still uncertain and |
|
| as a result a NSR cut-off could not be determined. A 0.5 % Cu cut-off was highlighted as a base case for the resource estimation. | |
| Mining factors or assumptions | While the deposit would most likelybe mined usingunderground methods no assumptions on mininghave been made at this time. Whole blockgrades are shown |
| tabulated at various cut-offs usingestimated wastegrades from material outside the mineralized solids. While it is unlikelythat the dilution of a 10 x 5 x 2..5 m block would |
|
| be used these values have been estimated. | |
| Metallurgical factors or assumptions |
Metallurgical test studies in 2008give relatively poor bulk circuit recoveries with copper and lead recoveries of about 50percent each |
| into the final bulk concentrate although about 30% of the lead in the feed waspresent as a non-sulphide. About 75% of the zinc in the zinc circuit feed |
|
| was recovered into a zinc concentrate. Bench scale test work completed to date has not defined the mostprobable flow sheet for the |
|
| deposit and requires further work to test the option of initialproduction of a bulk concentrate against differential flotation of the copper and zinc. |
|
| further metallurgical work must be initiated and completed. | |
| Environmental factors or assumptions |
Baseline environmental waterqualitysurveys were undertaken in 1988 and 1989 and continued in 1990,1996,and 1997. The findings indicate that |
| there are no significant or unusual environmental sensitivities associated with the MargDeposit. | |
| Classification | Geologic continuity has been established through diamond drilling over a number of drill campaigns with the mineralized lenses interpreted from reasonably spaced drill fences. Grade continuity can be quantified by semivariogram analysis for each variable. |
The estimationprocess was completed in a series of 4passes with the search ellipse dimensions tied to the semivariogram ranges. The firstpass used dimensions equal to |
|
| 1/4 of the semivariogram range. A minimum of 3 composites were required within the search ellipsoid to estimate a block. For blocks not estimated inpass 1 a secondpass |
|
| using1/2 the semivariogram range was completed. A thirdpass usingthe full range and a fourthpass usingtwice the range completed the krigingexercise. |
|
| For this resource estimate the densityof drilling,number of intersections within each lens and the small number of blocks estimated in the firstpass using¼ of the |
|
| semivariogram range hasprecluded classifyinganyof the resource as measured. Blocks estimated in Passes 1 and 2 were classed indicated with all other blocks classed inferred. |
APPENDIX A – LISTING OF DRILL HOLES ON MARG Holes which intersected the massive sulphide lenses are highlighted
| HOLE | EASTING |
NORTHING | ELEVATION | HLENGTH | AZIMUTH | DIP |
|---|---|---|---|---|---|---|
| M-001 | 524974.65 |
7098389.35 | 1373.34 | 181.97 | 343 | -50 |
| M-002 | 525766.05 |
7098463.25 | 1435.10 | 113.08 | 359 | -50 |
| M-003 | 525766.05 |
7098463.25 | 1435.14 | 81.38 | 359 | -80 |
| M-004 | 525673.05 |
7098369.15 | 1436.42 | 91.14 | 3 | -50 |
| M-005 | 525673.05 |
7098369.15 | 1436.42 | 87.48 | 3 | -70 |
| M-006 | 525603.65 |
7098264.85 | 1413.86 | 145.39 | 2 | -50 |
| M-007 | 524584.85 |
7098261.05 | 1324.90 | 139.29 | 343 | -50 |
| M-008 | 525080.15 |
7098498.65 | 1357.40 | 124.05 | 340 | -50 |
| M-009 | 525610.75 |
7098359.95 | 1409.81 | 163.68 | 354 | -50 |
| M-010 | 525767.55 |
7098400.05 | 1461.29 | 156.05 | 358 | -70 |
| M-011 | 525767.55 |
7098400.05 | 1461.28 | 172.82 | 358 | -85 |
| M-012 | 525826.15 |
7098441.65 | 1458.70 | 134.72 | 358 | -50 |
| M-013 | 525826.15 |
7098441.65 | 1458.77 | 124.05 | 358 | -70 |
| M-014 | 525876.85 |
7098446.65 | 1467.56 | 153.92 | 358 | -50 |
| M-015 | 525690.85 |
7098423.25 | 1429.87 | 96.92 | 0 | -50 |
| M-016 | 525683.15 |
7098302.55 | 1443.28 | 213.66 | 358 | -50 |
| M-017 | 525683.15 |
7098302.55 | 1443.28 | 160.02 | 0 | -65 |
| M-018 | 525683.15 |
7098302.55 | 1443.28 | 130.76 | 0 | -80 |
| M-019 | 525760.55 |
7098217.85 | 1476.29 | 288.34 | 0 | -50 |
| M-020 | 525823.75 |
7098299.65 | 1505.47 | 259.69 | 0 | -60 |
| M-021 | 525892.25 |
7098358.95 | 1493.20 | 306.32 | 0 | -67 |
| M-022 | 525495.75 |
7098345.75 | 1377.85 | 203.30 | 0 | -50 |
| M-023 | 525823.75 |
7098299.65 | 1505.47 | 294.74 | 0 | -75 |
| M-024 | 525364.38 |
7098407.83 | 1353.59 | 54.90 | 358 | -50 |
| M-025 | 525823.90 |
7098299.14 | 1505.45 | 248.72 | 0 | -48 |
| M-026 | 524956.70 |
7098314.83 | 1396.42 | 215.50 | 0 | -50 |
| M-027 | 524770.72 |
7098325.13 | 1352.70 | 188.98 | 0 | -50 |
| M-028 | 525892.25 |
7098358.95 | 1493.02 | 213.66 | 0 | -50 |
| M-029 | 524626.95 |
7098315.15 | 1323.38 | 214.44 | 0 | -50 |
| M-030 | 525892.25 |
7098358.95 | 1493.18 | 126.80 | 0 | -88 |
| M-030A | 525892.25 |
7098358.95 | 1493.18 | 281.94 | 0 | -88 |
| M-031 | 525172.05 |
7098396.15 | 1361.11 | 160.96 | 0 | -50 |
| M-032 | 525368.65 |
7098360.75 | 1359.36 | 204.83 | 0 | -50 |
| M-033 | 525760.55 |
7098217.85 | 1476.23 | 305.41 | 0 | -80 |
| M-034 | 525885.61 |
7098124.31 | 1474.84 | 444.09 | 358 | -71 |
| M-035 | 525972.24 |
7098119.66 | 1446.48 | 400.51 | 354 | -60 |
| M-036 | 525501.21 |
7098182.89 | 1392.72 | 304.50 | 358 | -52 |
| M-037 | 525175.79 |
7098230.92 | 1388.71 | 247.80 | 360 | -57 |
| M-038 | 525504.09 |
7098040.00 | 1415.93 | 422.15 | 360 | -58 |
|---|---|---|---|---|---|---|
| M-039 | 526242.95 |
7098025.65 | 1329.47 | 111.30 | 360 | -60 |
| M-039A | 526242.95 |
7098035.65 | 1329.47 | 434.04 | 355 | -60 |
| M-040 | 526099.95 |
7098000.65 | 1349.44 | 445.31 | 5 | -60 |
| M-041 | 526088.95 |
7097905.65 | 1327.00 | 523.95 | 357 | -70 |
| M-042 | 526258.95 |
7097935.65 | 1276.63 | 497.43 | 8 | -70 |
| M-043 | 525708.95 |
7097965.65 | 1481.62 | 582.78 | 1 | -70 |
| M-044 | 525617.95 |
7098140.65 | 1424.35 | 378.56 | 359 | -65 |
| M-045 | 525385.22 |
7098169.14 | 1389.52 | 411.18 | 360 | -55 |
| M-046 | 525192.95 |
7098065.65 | 1427.00 | 431.29 | 360 | -60 |
| M-047 | 524612.95 |
7098005.65 | 1365.00 | 303.58 | 360 | -60 |
| M-048 | 525901.85 |
7098123.25 | 1474.77 | 413.61 | 358 | -54 |
| M-049 | 525881.44 |
7098264.69 | 1523.26 | 306.62 | 2 | -57 |
| M-050 | 525881.46 |
7098265.33 | 1523.18 | 354.78 | 2 | -73 |
| M-051 | 525901.95 |
7098122.45 | 1474.71 | 417.57 | 358 | -65 |
| M-052 | 525980.55 |
7098273.95 | 1515.48 | 293.22 | 3 | -60 |
| M-053 | 525970.95 |
7098120.65 | 1447.79 | 389.22 | 10 | -51 |
| M-054 | 525980.65 |
7098273.35 | 1515.54 | 346.56 | 3 | -80 |
| M-055 | 525970.85 |
7098120.05 | 1446.39 | 406.76 | 6 | -66 |
| M-056 | 525980.65 |
7098273.55 | 1515.51 | 313.63 | 4 | -70 |
| M-057 | 525980.49 |
7098274.35 | 1515.46 | 288.04 | 3 | -52 |
| M-058 | 526082.95 |
7098160.65 | 1435.64 | 80.16 | 3 | -64 |
| M-059 | 526083.45 |
7098275.45 | 1486.78 | 321.26 | 3 | -76 |
| M-060 | 526082.15 |
7098158.05 | 1435.64 | 367.89 | 0 | -71 |
| M-061 | 526083.45 |
7098275.15 | 1486.67 | 363.93 | 2 | -82 |
| M-062 | 525583.65 |
7098467.05 | 1389.25 | 191.41 | 0 | -50 |
| M-063 | 526182.85 |
7098149.65 | 1414.95 | 374.29 | 6 | -71 |
| M-064 | 525582.45 |
7098336.75 | 1398.19 | 230.73 | 4 | -61 |
| M-065 | 525582.85 |
7098335.95 | 1398.20 | 215.49 | 4 | -75 |
| M-066 | 525581.45 |
7098277.05 | 1405.07 | 261.21 | 6 | -67 |
| M-067 | 525581.45 |
7098276.55 | 1404.95 | 288.04 | 6 | -80 |
| M-068 | 526182.65 |
7098149.15 | 1414.95 | 418.80 | 6 | -77 |
| M-069 | 525583.85 |
7098196.75 | 1410.05 | 336.80 | 4 | -78 |
| M-070 | 525483.65 |
7098398.05 | 1380.84 | 157.58 | 360 | -55 |
| M-071 | 525482.76 |
7098296.09 | 1378.24 | 180.44 | 360 | -50 |
| M-072 | 525499.56 |
7098241.82 | 1387.47 | 166.72 | 360 | -51 |
| M-073 | 525483.23 |
7098183.04 | 1391.03 | 228.90 | 360 | -65 |
| M-074 | 525093.85 |
7098147.05 | 1434.28 | 316.08 | 360 | -69 |
| M-075 | 525204.15 |
7098072.15 | 1427.67 | 395.33 | 360 | -87 |
| M-076 | 525383.05 |
7098256.95 | 1373.01 | 93.57 | 360 | -53 |
| M-077 | 525383.15 |
7098168.25 | 1389.72 | 242.93 | 5 | -65 |
| M-078 | 525382.85 |
7098078.75 | 1403.85 | 404.47 | 0 | -70 |
| M-079 | 525382.75 |
7098078.05 | 1403.67 | 359.97 | 0 | -85 |
| M-080 | 525282.95 |
7098075.65 | 1410.73 | 355.40 | 5 | -75 |
|---|---|---|---|---|---|---|
| M-081 | 525283.95 |
7098086.65 | 1410.55 | 360.27 | 5 | -50 |
| M-082 | 525384.70 |
7097971.57 | 1439.30 | 463.91 | 10 | -70 |
| M-083 | 524982.95 |
7098125.65 | 1474.95 | 352.65 | 360 | -70 |
| M-084 | 525759.82 |
7098219.02 | 1476.36 | 236.82 | 2 | -70 |
| M-085 | 525762.20 |
7098343.86 | 1478.59 | 191.10 | 2 | -75 |
| M-086 | 525824.10 |
7098159.79 | 1509.20 | 444.09 | 2 | -66 |
| M-087 | 525824.10 |
7098159.57 | 1509.20 | 327.66 | 2 | -75 |
| M-088 | 525824.30 |
7098155.04 | 1509.20 | 374.90 | 2.3 | -82 |
| M-089 | 525717.97 |
7098251.78 | 1460.00 | 376.73 | 2.3 | -75 |
| M-090 | 525620.60 |
7098231.90 | 1418.50 | 299.92 | 2.3 | -70 |
| M-091 | 525442.70 |
7098257.40 | 1378.60 | 287.43 | 7.3 | -55 |
| M-092 | 525275.60 |
7098213.10 | 1382.60 | 144.80 | 12.3 | -70 |
| M-093 | 525089.60 |
7098261.40 | 1400.10 | 364.50 | 358.3 | -70 |
| M-094 | 525179.70 |
7098174.20 | 1405.20 | 284.70 | 350 | -60 |
| M-095 | 524897.60 |
7098047.70 | 1553.60 | 451.10 | 0.3 | -55 |
| M-096 | 524917.97 |
7098023.78 | 1551.99 | 403.86 | 7.3 | -75 |
| M-097 | 525972.96 |
7098061.91 | 1425.88 | 472.44 | 12.7 | -70.9 |
| M-098 | 526396.14 |
7097925.66 | 1277.06 | 372.77 | 360 | -75 |
| M-099 | 526496.97 |
7097910.01 | 1260.31 | 218.54 | 360 | -80 |
| M-100 | 524898.20 |
7098031.54 | 1551.99 | 498.96 | 335.4 | -75 |
| M-101 | 525201.60 |
7097919.66 | 1478.60 | 459.94 | 5 | -80 |
| M-102 | 525088.36 |
7098043.01 | 1472.60 | 292.30 | 5 | -80 |
| M-103 | 519354.00 |
7095076.00 | 1501.00 | 32.61 | 340 | -50 |
| M-104 | 519354.00 |
7095076.00 | 1501.00 | 29.57 | 340 | -60 |
| M-105 | 519158.59 |
7094900.20 | 1579.33 | 306.93 | 330 | -50 |
| M-106 | 519895.94 |
7096250.04 | 1524.48 | 233.78 | 337.3 | -48.6 |
| M-107 | 525897.76 |
7098025.28 | 1463.76 | 389.23 | 5 | -70 |
| M-108 | 525528.00 |
7098236.00 | 1393.00 | 260.00 | 360 | -72 |
| M-109 | 525710.00 |
7098246.10 | 1450.70 | 172.50 | 360 | -45 |
| M-110 | 525816.00 |
7098236.00 | 1499.00 | 349.60 | 10 | -67 |
| M-111 | 525885.00 |
7098139.00 | 1475.00 | 355.70 | 15 | -54 |
| M-112 | 525979.00 |
7098127.00 | 1446.00 | 370.00 | 15 | -53 |
| M-113 | 525975.00 |
7098127.00 | 1446.00 | 401.00 | 20 | -70 |
| M-114 | 525866.70 |
7097907.40 | 1402.00 | 499.00 | 4.6 | -64.4 |
| M-115 | 525797.20 |
7097998.60 | 1475.00 | 420.00 | 360 | -70 |
| M-116 | 524900.00 |
7098036.00 | 1552.00 | 450.00 | 336.1 | -54.5 |
| M-117 | 524500.00 |
7098050.00 | 1360.00 | 396.00 | 0 | -55 |
APPENDIX B
LISTING OF SIGNIFICANT DIAMOND DRILL INTERSECTIONS
APPENDIX B
TABLE OF SIGNIFICANT DIAMOND DRILL INTERSECTIONS
| Hole | Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 88-01 88-02 88-03 |
29.00 18.39 37.19 28.35 |
34.18 32.61 38.71 29.41 |
5.18 14.22 |
0.71 1.38 3.48 5.41 |
0.47 3.20 1.22 3.05 |
1.47 1.09 1.37 6.72 |
11.7 174.5 17.5 101.8 |
<0.10 1.13 0.34 0.34 |
B4 B5 B4 B5 |
2.65 5.67 6.07 15.18 |
| 1.52 | ||||||||||
| 1.06 | ||||||||||
| 88-04 88-05 88-06 88-07 |
40.23 46.78 6.55 65.23 68.28 3.05 64.10 74.77 10.67 120.61 121.24 0.63 No significant intersections |
6.55 | 0.55 0.14 3.32 0.16 |
0.64 6.18 3.68 0.92 |
1.38 0.02 6.59 1.28 |
18.5 96.3 71.3 23.7 |
0.29 0.93 1.03 0.27 |
B4 D1 D1 C |
2.57 6.34 13.59 2.36 |
|
| 88-08 88-09 88-10 88-11 |
No significant intersections 32.61 35.61 3.00 62.65 68.58 5.93 110.70 133.55 22.85 82.20 87.75 5.55 |
2.31 2.92 0.94 2.24 |
4.55 3.33 1.79 3.04 |
2.93 5.93 3.19 5.87 |
81.7 62.1 47.3 39.8 |
0.97 1.10 1.06 0.93 |
D1 D1 B4/B5 D1 |
9.79 12.18 5.92 11.15 |
||
| 88-12 88-13 |
150.00 64.95 73.85 65.90 82.30 |
152.90 68.65 79.80 68.45 94.00 |
2.90 3.70 5.95 2.55 11.70 |
1.52 3.14 2.03 1.33 1.41 |
3.17 4.84 3.31 0.98 2.52 |
5.57 9.21 5.85 1.93 4.45 |
84.7 109.0 105.9 30.2 77.1 |
1.71 1.82 1.44 0.13 1.06 |
B4 D1 B3 D1 B3 |
10.26 17.19 11.19 4.24 8.38 |
| 88-14 88-15 88-16 88-17 |
No significant intersections 39.50 41.20 1.70 58.75 61.15 2.40 104.00 114.85 10.85 108.00 111.90 3.90 |
3.35 1.65 2.54 2.15 |
2.52 2.66 2.48 2.98 |
4.64 5.20 5.31 6.14 |
80.9 76.1 61.7 61.7 |
1.13 1.10 0.70 0.85 |
B5 B1 D1 D1b |
10.51 9.51 10.33 |
||
| 11.27 | ||||||||||
| 88-18 88-19 88-20 |
116.85 114.30 203.70 261.98 187.15 |
118.30 120.70 214.90 262.40 189.25 |
1.45 6.40 11.20 0.42 2.10 |
2.28 1.20 2.55 1.56 1.74 |
1.35 1.21 2.71 2.00 1.87 |
3.72 2.79 6.31 6.26 3.97 |
31.1 24.7 63.8 71.7 65.5 |
0.55 0.34 0.75 0.41 1.17 |
D1a D1/D1b D1 B4 D1 |
7.35 5.20 11.57 9.82 7.58 |
| 88-21 | 221.25 226.70 231.70 156.60 161.45 |
223.45 229.15 233.35 158.19 164.80 |
2.20 2.45 1.65 1.59 3.35 |
1.26 0.93 1.12 1.16 2.56 |
2.10 1.77 1.75 1.46 2.48 |
4.04 3.23 3.36 2.70 5.25 |
53.1 48.3 54.9 44.2 152.6 |
0.62 0.49 0.75 0.45 1.17 |
B5 B4 B3 D1b D1a |
7.40 5.93 6.23 5.32 10.29 |
| 156.60 171.70 182.40 |
164.80 174.20 187.45 |
8.20 2.50 5.05 |
1.32 1.46 1.50 |
1.34 2.10 2.32 |
2.73 4.10 4.84 |
39.1 61.0 67.5 |
0.55 0.75 1.06 |
D1 C B5 |
5.39 7.66 8.66 |
| Hole | Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 88-22 | 107.70 | 111.25 | 3.55 | 1.97 | 2.87 | 5.64 | 68.6 | 0.89 | B3 | 10.48 |
| 88-23 88-24 88-25 |
209.20 215.10 5.90 263.80 269.15 5.35 No significant intersections 181.47 187.45 5.98 208.90 209.70 0.80 |
1.91 1.24 1.98 0.94 |
3.07 2.07 1.22 1.75 |
6.49 3.95 3.40 3.36 |
75.4 66.5 50.4 42.5 |
0.96 1.34 0.79 0.48 |
D1 B5 D1 B5 |
11.47 7.26 6.60 6.05 |
||
| 88-26 88-27 88-28 88-29 |
221.00 222.00 1.00 63.02 63.26 0.42 No significant intersections 156.90 158.80 1.90 No significant intersections |
1.45 1.12 2.26 |
1.90 2.68 2.95 |
4.11 6.41 5.62 |
56.6 57.9 83.0 |
0.71 0.48 0.85 |
B3 B5 D1 |
7.46 10.21 10.83 |
||
| 88-30 88-30A |
Abandoned 188.61 192.16 229.70 231.40 234.66 239.57 243.26 245.11 |
3.55 1.70 4.91 1.85 |
1.05 0.89 0.57 1.25 |
2.85 1.45 1.06 2.04 |
5.21 2.74 1.84 3.91 |
58.3 40.8 27.8 47.3 |
0.92 0.58 0.34 0.72 |
D1 B5 B4 B3 |
9.11 5.08 3.47 7.20 |
|
| 88-31 88-32 88-33 89-34 |
61.80 64.62 2.82 74.64 76.23 1.59 No significant intersections 222.51 227.17 4.66 320.23 323.59 3.36 |
0.05 0.58 1.57 1.33 |
0.26 2.77 2.19 2.16 |
0.50 5.30 4.29 3.99 |
2.1 51.1 46.6 47.3 |
0.10 1.58 0.55 0.58 |
B4 B3 D1 D1 |
0.81 8.65 8.05 7.48 |
||
| 89-35 89-36 |
292.50 334.92 362.22 139.47 148.49 |
297.15 336.00 365.00 141.43 149.40 |
4.65 1.08 2.78 1.96 0.91 |
1.46 2.15 0.73 1.45 2.21 |
2.78 1.51 1.26 3.65 5.29 |
5.12 3.15 2.45 4.65 9.63 |
45.9 43.9 32.2 89.1 126.8 |
1.20 0.48 0.48 1.92 2.47 |
D1 B4 A1 D2 D1 |
9.36 6.81 4.44 9.75 17.13 |
| 89-37 | 170.13 188.89 259.52 48.57 174.00 |
177.24 200.33 260.33 49.29 176.09 |
7.11 11.44 0.81 0.72 2.09 |
1.15 1.47 0.87 0.58 0.73 |
2.43 2.27 0.72 0.35 1.06 |
4.36 4.15 1.63 0.85 2.47 |
64.4 66.9 25.3 8.9 25.0 |
2.06 1.37 0.14 0.17 0.20 |
C B5 B3 D1 B4 |
7.94 7.89 3.22 1.78 4.26 |
| 89-38 90-39 90-39A |
186.23 188.18 203.10 205.66 362.19 362.84 Abandoned 345.65 346.37 |
1.95 2.56 0.65 0.72 |
1.31 0.27 0.41 0.73 |
1.79 0.82 1.57 1.08 |
4.30 2.37 3.15 3.69 |
59.7 18.9 25.7 21.3 |
0.23 0.34 0.07 0.62 |
B3 B1 B3 D1 |
7.40 3.46 5.13 5.50 |
|
| 90-40 | 349.90 366.84 402.96 327.54 359.43 375.11 |
354.10 370.56 407.21 330.02 360.88 376.56 |
4.20 3.72 4.25 2.48 1.45 1.45 |
0.99 1.25 0.95 2.13 0.22 1.80 |
1.49 1.24 1.36 2.27 0.44 1.84 |
2.64 2.34 2.47 3.61 0.84 3.55 |
37.0 39.2 39.1 53.8 12.3 51.8 |
0.45 0.53 0.34 1.41 0.14 0.34 |
C B4 A1 D1 B4 B3 |
5.12 4.83 4.78 8.01 1.50 7.19 |
| Hole | Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 90-41 90-42 90-43 |
407.21 397.85 453.39 389.80 |
408.72 398.75 455.50 391.70 |
1.51 0.90 2.11 1.90 |
0.35 1.72 0.49 0.85 |
0.30 1.48 0.78 0.79 |
0.61 2.94 1.45 1.58 |
5.1 3.5 21.6 25.0 |
0.14 0.99 0.24 0.34 |
D1 D1 A3 D1a |
1.26 6.14 2.72 3.22 |
| 90-44 | 516.05 543.95 234.10 312.00 329.50 |
517.80 544.45 236.07 314.15 332.84 |
1.75 0.50 1.97 2.15 3.34 |
1.42 2.19 0.30 0.22 1.61 |
2.86 2.62 1.79 0.81 2.52 |
4.71 5.32 2.57 1.23 4.85 |
70.6 61.3 76.5 17.2 53.2 |
1.13 0.54 2.30 0.49 0.89 |
B4 B3 D1 B5 B4 |
8.99 10.13 4.66 2.26 8.98 |
| 90-45 90-46 |
111.10 301.55 308.80 154.91 177.40 |
114.60 304.50 309.68 156.51 178.40 |
3.50 2.95 0.88 1.60 1.00 |
2.14 0.73 0.19 3.00 3.20 |
0.30 2.83 2.69 2.78 2.77 |
1.13 5.49 6.14 7.19 7.52 |
9.3 50.4 65.1 70.3 53.1 |
0.14 0.34 0.89 0.75 0.55 |
D1 A2 A1 D2 D1 |
3.57 9.05 9.02 12.97 13.49 |
| 90-47 96-48 |
288.75 291.75 3.00 311.05 311.75 0.70 No significant intersections 301.45 310.05 8.60 324.30 325.52 1.22 |
0.66 0.79 1.96 0.62 |
0.82 1.84 2.84 1.20 |
1.89 3.86 5.53 2.10 |
19.5 38.1 76.2 39.5 |
0.10 0.55 1.02 0.27 |
B3 B1 D1 C |
3.37 6.49 10.33 3.92 |
||
| 96-49 | 361.37 236.43 253.67 268.48 276.71 |
365.67 241.26 259.38 269.03 278.00 |
4.30 4.83 5.71 0.55 1.29 |
1.10 1.88 1.51 1.65 1.63 |
1.92 1.99 2.74 2.35 2.14 |
3.54 3.90 4.87 4.82 4.32 |
68.9 46.5 70.1 63.1 56.7 |
1.22 0.69 0.75 0.62 0.79 |
A2 D1 C B5 B3 |
6.56 7.77 9.12 8.82 8.09 |
| 96-50 | 251.76 286.75 298.31 316.41 325.75 |
255.19 293.71 300.17 320.14 327.50 |
3.43 6.96 1.86 3.73 1.75 |
2.33 0.79 0.87 1.17 0.73 |
1.14 1.18 1.19 2.13 1.76 |
3.22 2.27 2.23 3.88 3.08 |
43.0 40.1 43.5 63.3 54.5 |
0.83 0.58 0.34 0.55 0.69 |
D1 B5 B3 A2 A1 |
6.69 4.24 4.29 7.18 5.57 |
| 96-51 96-52 96-53 |
301.86 248.41 255.34 290.58 305.80 |
307.66 249.06 256.64 296.20 309.24 |
5.80 0.65 1.30 5.62 3.44 |
1.58 2.31 1.21 0.98 1.09 |
2.35 5.07 2.86 1.90 2.00 |
4.58 7.91 5.22 3.65 3.93 |
49.0 127.0 76.2 37.9 54.9 |
0.31 0.62 0.76 0.75 0.67 |
D1 D1 B5 D1 C |
8.51 15.29 9.29 6.53 7.02 |
| 96-54 | 324.31 267.54 281.30 296.91 301.52 |
327.36 270.26 286.75 297.70 303.15 |
3.05 2.72 5.45 0.79 1.63 |
0.96 1.65 1.05 1.14 2.39 |
1.37 5.78 1.66 1.30 2.58 |
2.85 9.59 3.23 2.78 5.12 |
43.0 122.0 44.6 44.0 71.2 |
0.45 1.82 0.60 0.44 0.62 |
B4 D1 C B5 B4 |
5.18 17.02 5.94 5.22 10.09 |
| 96-55 | 306.51 345.11 |
310.76 346.46 |
4.25 1.35 |
1.49 1.16 |
2.76 1.79 |
6.02 3.22 |
57.0 42.2 |
0.63 0.39 |
D1 B4 |
10.27 6.17 |
| Hole | Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 96-56 96-57 96-58 |
376.66 382.22 5.56 254.98 259.56 4.58 264.96 271.85 6.89 282.55 286.11 3.56 No significant intersections No significant intersections |
0.67 2.03 1.87 1.60 |
0.88 2.67 2.64 2.28 |
2.02 5.13 5.15 4.84 |
37.1 71.1 67.1 68.2 |
0.45 0.84 0.75 0.78 |
A D1 C B5 |
3.57 9.83 9.66 8.72 |
||
| 96-59 96-60 |
No significant intersections 291.18 291.82 0.64 299.29 300.38 1.09 313.10 313.83 0.73 318.21 321.26 3.05 |
2.57 2.30 1.19 1.70 |
5.65 3.37 2.80 2.34 |
9.80 6.20 5.02 4.44 |
127.0 112.0 65.4 61.2 |
1.59 1.54 0.92 1.06 |
D1 C B5 B4 |
18.02 11.87 9.01 8.48 |
||
| 96-61 96-62 96-63 |
299.90 303.56 3.66 313.50 316.63 3.13 No significant intersections 319.18 322.40 3.22 329.79 336.35 6.56 339.55 341.82 2.27 |
1.51 1.18 0.77 1.34 1.30 |
2.76 1.88 1.33 1.94 2.59 |
4.67 3.43 2.84 3.74 4.72 |
68.8 64.8 33.9 65.2 80.8 |
0.70 0.75 0.35 0.74 1.06 |
D1 B4 D1 C B5 |
8.94 6.49 4.94 7.02 8.61 |
||
| 96-64 96-65 96-66 |
347.81 32.82 162.00 80.05 206.50 |
348.60 34.24 163.00 81.58 207.87 |
0.79 1.42 1.00 1.53 1.37 |
1.32 1.63 1.34 1.94 0.98 |
2.06 1.21 2.10 4.01 1.68 |
3.87 1.60 4.38 7.06 3.12 |
75.0 47.8 47.0 80.8 44.8 |
0.49 0.54 0.51 1.79 0.48 |
B4 D2 B4 D1 B4 |
7.25 4.44 7.82 13.01 5.78 |
| 96-67 96-68 |
144.56 246.29 337.59 344.27 356.10 |
148.28 249.36 337.89 347.74 357.36 |
3.72 3.07 0.30 3.47 1.26 |
0.99 2.70 4.52 1.36 1.52 |
1.80 3.71 4.00 4.29 2.21 |
4.54 4.48 7.85 7.14 4.15 |
60.1 89.6 99.0 45.3 60.3 |
0.58 0.96 0.81 0.59 0.80 |
C B4 D1 C B5b |
7.33 10.89 16.37 12.79 7.88 |
| 96-69 96-70 96-71 |
359.51 224.64 253.71 316.98 39.04 74.19 41.20 |
360.63 227.69 255.85 317.83 42.04 74.75 44.81 |
1.12 3.05 2.14 0.85 3.00 0.56 3.61 |
0.92 0.56 0.36 0.66 2.59 2.15 1.77 |
1.99 1.67 1.62 2.18 1.66 2.82 3.35 |
3.56 2.47 2.64 4.18 3.21 5.45 5.80 |
36.7 43.3 42.0 53.3 73.6 67.8 90.3 |
0.46 0.81 1.10 0.42 0.60 0.78 2.81 |
B5a C B5 B4 B4 B1 D1 |
6.47 4.70 4.62 7.02 7.46 10.42 10.92 |
| 96-72 96-73 |
76.28 156.79 84.05 152.95 184.20 |
79.78 161.11 84.70 153.72 200.44 |
3.50 4.32 0.65 0.77 16.24 |
0.84 1.07 3.47 0.86 2.82 |
1.25 1.77 4.44 3.07 2.92 |
2.22 3.36 6.50 4.88 5.55 |
41.8 52.4 94.6 58.1 82.5 |
1.95 1.01 1.71 1.07 1.84 |
C B3 D2 B5 B5 |
4.31 6.20 14.41 8.81 11.29 |
| 96-74 96-75 97-76 |
129.10 131.87 2.77 230.19 232.21 2.02 269.45 270.36 0.91 237.83 238.33 0.50 No significant intersections |
1.20 0.56 1.01 4.95 |
1.48 1.47 1.25 3.58 |
3.73 3.62 2.88 10.90 |
35.2 30.1 52.5 73.2 |
0.42 0.32 0.29 0.76 |
D1 B4 B3 C |
6.41 5.65 5.14 19.43 |
| Hole | Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 97-77 97-78 97-79 |
122.53 128.02 5.49 196.38 205.43 9.05 218.92 219.98 1.06 305.85 307.90 2.05 No significant intersections |
0.97 1.98 0.81 0.51 |
1.10 0.31 1.71 0.69 |
2.50 1.43 3.48 1.40 |
23.6 10.6 37.0 20.4 |
0.20 0.15 0.32 0.15 |
D1 D1 C B3 |
4.57 3.72 6.00 2.60 |
||
| 97-80 97-81 97-82 97-83 |
335.17 153.77 283.25 365.90 143.70 |
339.82 163.07 284.64 366.52 145.30 |
4.65 9.30 1.39 0.62 1.60 |
0.68 1.37 0.81 0.30 2.11 |
1.18 2.21 1.00 19.10 0.61 |
2.64 4.11 2.16 6.07 1.70 |
21.7 63.9 41.2 367.0 20.6 |
0.20 3.70 2.81 0.36 0.15 |
A2 D2 D1 B3 D1 |
4.50 7.69 3.97 25.47 4.42 |
| 05-84 05-85 |
240.42 250.61 266.17 215.07 131.17 |
241.32 251.75 266.70 218.24 137.29 |
0.90 1.14 0.53 3.17 6.12 |
3.17 1.26 3.85 2.09 2.84 |
2.22 2.65 5.14 2.02 2.38 |
5.65 5.63 10.60 4.17 5.48 |
72.8 57.5 99.6 51.0 48.0 |
0.71 1.64 0.51 0.59 0.55 |
B7 B6 B5 D1 D1 |
11.04 9.54 19.59 8.28 10.70 |
| 05-86 05-87 06-88 06-89 |
293.41 298.49 306.43 314.21 175.26 |
297.00 300.86 309.13 324.85 178.12 |
3.59 2.37 2.70 10.64 2.86 |
2.19 2.20 2.08 1.12 0.93 |
2.89 2.84 1.93 1.34 0.97 |
5.81 5.36 4.02 2.13 1.94 |
69.0 56.0 48.0 31.3 17.8 |
0.84 1.18 0.71 0.61 0.24 |
D1 D1 D1 D1 D1 |
10.89 10.40 8.03 4.59 3.84 |
| 06-90 06-91 |
329.28 258.88 104.23 127.49 201.63 |
330.52 261.07 109.27 128.70 202.85 |
1.24 2.19 5.04 1.21 1.22 |
1.77 0.56 1.72 0.48 1.62 |
3.09 1.26 3.77 0.21 2.15 |
6.12 2.50 6.21 0.41 4.39 |
62.3 29.8 113.7 5.1 57.5 |
0.92 0.38 2.73 0.08 0.46 |
B3 B4 B5 B3 A2 |
10.98 4.32 11.70 1.10 8.16 |
| 06-92 06-93 06-94 |
68.86 166.57 174.47 196.90 207.83 |
70.66 169.79 176.85 197.29 209.18 |
1.80 3.22 2.38 0.39 1.35 |
1.31 0.76 3.45 1.69 1.58 |
1.20 0.66 4.54 1.12 2.48 |
2.15 1.96 11.29 2.88 4.74 |
36.4 15.1 102.1 30.0 69.2 |
0.39 0.19 1.41 0.09 0.29 |
D1 B5 B4 B3 B4 |
4.66 3.38 19.28 5.69 8.80 |
| 06-95 06-96 |
218.52 241.97 322.90 325.83 359.00 |
220.46 243.88 323.05 329.18 361.00 |
1.94 1.91 0.15 3.35 2.00 |
2.85 2.02 5.20 0.63 1.45 |
3.94 3.08 1.72 1.03 1.36 |
9.21 6.19 9.20 2.54 3.80 |
98.0 97.9 48.0 20.6 31.3 |
0.74 0.73 0.49 0.19 0.27 |
B3 B2 B5 B4 B5 |
16.00 11.29 16.12 4.20 6.61 |
| 371.36 | 372.10 | 0.74 | 0.29 | 1.41 | 2.49 | 24.0 | 0.61 | B4 | 4.19 |
| Hole 07-97 07-100 07-101 07-107 M-108 M-109 M-110 M-111 M-112 M-113 M-114 M-115 M-116 |
Interval | Interval | Interval | Cu | Pb | Zn | Ag | Au | Horizon | Cu+Pb+Zn |
|---|---|---|---|---|---|---|---|---|---|---|
| from(m) | to(m) | width(m) | (%) | (%) | (%) | (g/t) | (g/t) | (%) | ||
| 349.20 355.90 338.70 345.40 347.90 |
356.50 359.10 339.40 346.10 348.50 |
7.30 3.20 0.70 0.70 0.60 |
2.70 1.20 3.00 2.70 0.60 |
2.10 1.10 1.70 3.80 0.50 |
4.40 2.90 5.70 7.90 0.70 |
60.3 30.4 44.2 63.8 23.4 |
0.88 0.36 0.39 0.72 0.52 |
D1 B5 D1 D2 D2 |
9.20 5.20 10.40 14.40 1.80 |
|
| 111.42 158.29 181.60 195.80 145.80 |
111.85 162.80 185.80 196.43 157.35 |
0.43 4.51 4.20 0.63 11.55 |
1.49 0.60 1.67 0.17 1.72 |
2.20 1.26 3.40 1.37 1.72 |
3.84 2.19 5.53 1.75 3.64 |
53.9 44.3 82.8 26.7 42.4 |
1.33 2.04 1.81 0.36 0.63 |
D C B D |
7.53 4.05 10.60 3.29 7.08 |
|
| 246.10 290.80 295.50 294.20 332.77 |
255.90 291.30 306.00 299.90 337.60 |
9.80 0.50 10.50 5.70 4.83 |
2.15 1.69 1.03 1.52 0.87 |
3.50 1.97 1.69 2.06 1.63 |
7.37 3.86 3.23 4.71 3.10 |
79.3 93.5 46.7 44.2 39.0 |
1.25 1.34 0.90 0.93 0.52 |
D B B D A |
13.02 7.52 5.95 8.29 5.60 |
|
| 294.65 298.20 314.30 332.90 229.70 |
295.20 301.90 315.70 336.00 335.70 |
0.55 3.70 1.40 3.10 106.00 |
1.78 1.89 0.97 0.64 2.24 |
3.49 2.26 1.55 0.73 1.01 |
6.92 6.53 3.05 1.43 2.25 |
75.7 69.1 44.1 20.4 15.0 |
1.69 1.05 0.47 0.23 0.01 |
D D C B D |
12.19 10.68 5.57 2.80 5.50 |
|
| 379.60 418.60 275.80 333.10 361.35 |
380.40 420.10 276.30 335.15 362.50 |
0.80 1.50 0.50 2.05 1.15 |
1.60 0.38 0.17 0.17 1.60 |
2.40 0.48 1.94 0.60 0.86 |
4.65 0.86 3.37 1.71 2.61 |
59.0 10.7 67.2 10.6 24.2 |
0.55 0.13 0.03 0.08 0.44 |
A D |
8.65 1.72 5.48 2.48 5.07 |