Laserfiche WebLink
• <br />i <br />S <br />In late 1998, a eew discovery named the Caribou Park Brescia zone was made with corf; drilling, <br />It was a blind discovery with no previous prospecting or surface expression. The brea;ia zone <br />has true widths ranging from 10.0 to more than 160 feet. With core hole CR98-121, a t~road zone <br />of mineralization was discovered within the breccia zone. Below is a summary of that mole. <br />Discovery Hole CR98-121 <br />1069.0 - 1125.5 ft. <br />56.5 feet at 0.229 oz. Au/ton and 0.61 oz. Ag/ton plus; <br />0.25% Cu <br />0.72% Pb <br />0.47% Zn <br />Within the 56.5 foot intercept are; <br />3.0 ft. at 0.483 oz. Au/ton <br />3.0 ft. at 0.562 oz. Au/ton <br />13.9 ft. at 0.593 oz. Au/ton• <br />'Includes the highest gold assay seen to date in a project core hole; <br />1.0 ft. @ 6.198 oz. Eton. <br />Gold and Silver Resources <br />For resource evaluation and planning purposes, all project data has been entered into the <br />advanced Maptek Vulcan 3-D computer program. <br />An in house Calais study indicates that current combined project resources are 424,50(1 ounces <br />gold (0.298 oz. Au/ton), and 11,725,000 ounces silver (8.23 oz. Ag/ton), plus recoverable lead, <br />zinc and copper. That resource is based on a comprehensive study of past mining, underground <br />exploration, 87,000 feet of earlier core drilling, and 43,000 feet of recent core drilling. <br />Using a gold to silver price ratio of 55:1, the combined gold and silver grade calculates to be 0.450 <br />ounce gold equivalent per ton. Recoverable lead, zinc, and copper add significantly to the value <br />of the ore. True vein widths for this resource range from 3.0 to 30.0 feet. <br />An independent review of the Calais resource study was made by the consulting firm of Pincock <br />Allen and Holt who confirmed the Calais resowce calculations. <br />In an "Exploration Potential" review (Akright 9/4/00), it is estimated that with further <br />exploration core drilling of well defined veins that the resources could be more than doubled. The <br />exploration potential study does not include several geologic targets which are thought to have an <br />additional potential. <br />Table A on the next page summarizes the resource potential reported in that study <br />3. <br />