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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (40685)	5/22/2007 5:03:14 AM
From: E. Charters	Read Replies (2) \| Respond to of 78426

Stuff not being mined or actively explored.. no shishkabob.. History Copper was first discovered on the X property in 1961, during a regional prospecting program. Reconnaissance geologic mapping and sampling was carried out during 1962, after a large number of claims were staked in the area. ******* acquired all the claims and equipment in 1963. During that year, detailed mapping and sampling was undertaken along with an 18-hole drill program. In subsequent years, more drilling and sampling took place on the property. A total of 5,283 metres of drilling, in 27 holes, was completed in 1964. In 1970, the property was optioned to Y who carried out additional mapping and sampling. In 1971, Y drilled three holes, and then returned the claims to *****. During 1975 and 1976, Shell Canada Limited explored the property, through an option agreement with *****. Two diamond drill programs were carried out by Shell, and these totalled over 8,200 metres. After the last drill program in 1977, Shell Canada Limited calculated a resource for the property. An estimated resource of 33 million tonnes at an average grade of 3.92% copper and 8 grams per tonne silver was published (Kilborn Ltd., Mar. 1989). The resource was calculated using several widely spaced drill holes; further drilling is needed to increase confidence in the resource. In 1982, Shell Canada withdrew from all mineral exploration and the claims were once again returned to ** Resources. There is little evidence of work on the property until 1989, when Redstone commissioned Kilborn Engineering Ltd. to complete a data review and economic assessment of the X deposit. The Kilborn study concluded that the resource should be considered inferred only, and that further drilling and underground exploration would be required to elevate the resource to a reserve. The property has remained idle since the 1990 field program, which did not include any further drilling. In 1996, ****** became a wholly owned subsidiary of Franco Nevada Mining Corporation Limited. The property is not mentioned in any of Franco Nevada’s public information; ******** maintains ownership of the mining leases surrounding the deposit. The leases are due to lapse in 2013. In 2002, Franco-Nevada Mining Corporation became a wholly-owned subsidiary of Newmont Mining Corporation and changed its name to Newmont Mining Corporation of Canada Limited. ************************ Bedrock and Mineral Deposit Geology The Z deposit lies within the Cordilleran Orogen, and is hosted by R sediments, a glacial-marine clastic sequence. The oldest rocks in the area are Lower Cambrian in age. The iron-bearing formation consists of hematite and jasper interlayered with conglomerate, sandstone, siltstone and shale. Conglomerate beds range in thickness from a few centimetres to approximately 10 metres. Most of the iron formation is located within a horizon between 150 and 300 metres above an unconformity marking the base of hematitic conglomerate. The ore zone averages 30.5 metres in width in the A region , and varies from 24 to 107 metres wide in AK. In the A region, the iron content averages 42.27% and the phosphorus content 0.28%. The iron formation is locally banded hematite and jasper, interbedded with nodular iron formation. The beds dip approximately 10?? to the south. Significant Results Within one 16 square km area in AK, it was calculated that there are more than 5.44 billion tonnes of ore with a grade of 47.2% iron. In 1963 a resource estimate of 18 to 27 billion tonnes of iron ore was made, which was calculated taking into account the iron deposit area covered by Z. The deposit is the third-largest iron resource in North America. ************************************* Significant Results The February 1980, potential ore reserves from the C and D-10 deposits are 2.34 Mt at a grade of 10.3% Zn + 2.73%Pb and 1.19 Mt of 11.58% Zn plus 6.42% Pb respectively. ************************************** Unstaked: In 1969, The T mining company discovered 35 Pb-Zn showings on their land and drilled one hole totalling 100 feet. During 1971, geological mapping, prospecting, stream sediment and soil sampling, ground EM and 8 diamond drill holes totalling 3,000 feet were completed. Potential: 10 million tons of 10% lead and zinc combined. ************************************ EC<:-}