Revenue Target Deposit Upgraded to NI43-101 Deposit as of January 2012.
New + million ounce gold deposit located adjacent to existing + million ounce gold deposit at Nucleus
Newly defined Inferred Resource of 101 million tonnes of mineralized material containing 1.1 million ounces gold, 10.2 million ounces silver, 287 million pounds of copper, and 90 million pounds of molybdenum with a grading of 0.34 g/t gold, 3.14 g/t silver, 0.13% copper and 0.04 % molybdenum using a gold equivalent* ("AuEq") cut-off grade of 0.5 grams per tonne ("g/t")
This equates to a total of 3.7 million gold equivalent ounces at a grade of 1.1 g/t AuEq
The Revenue Zone Deposit remains open laterally and at depth
The results at various AuEq cut-off grades for the Revenue Deposit are tabulated below:
| AuEq (g/t) |
Tonnage
(Mt) |
Gold |
Silver |
Copper |
Molybdenum |
AuEq* |
| Cut-off |
g/t |
Ounces |
g/t |
Ounces |
% |
Pounds |
% |
Pounds |
g/t |
Ounces |
| 0.3 |
158 |
0.27 |
1,345,000 |
2.49 |
12,605,000 |
0.11 |
370,517,000 |
0.03 |
103,560,000 |
0.83 |
4,419,000 |
| 0.4 |
129 |
0.30 |
1,232,000 |
2.76 |
11,420,000 |
0.12 |
331,554,000 |
0.03 |
98,409,000 |
0.94 |
4,076,000 |
| 0.5 |
101 |
0.34 |
1,119,000 |
3.14 |
10,194,000 |
0.13 |
286,871,000 |
0.04 |
89,606,000 |
1.08 |
3,659,000 |
| 0.6 |
81 |
0.38 |
994,000 |
3.40 |
8,831,000 |
0.13 |
239,407,000 |
0.05 |
84,527,000 |
1.21 |
3,276,000 |
| 0.7 |
62 |
0.43 |
850,000 |
3.64 |
7,211,000 |
0.15 |
199,568,000 |
0.06 |
76,941,000 |
1.38 |
2,848,000 |
*Gold equivalent (AuEq) for the Revenue Resource is calculated based upon prices of US$1,016/oz for gold, US$15.82/oz for silver, and US$2.95/lb for copper and US$15.82/lb for molybdenum, and assumes 100% metal recovery with no discount for metallurgical recovery in contained metal figures (Note: total contained AuEq metal values may not add exactly because of rounding).
The map below illustrates the significant opportunity at the Revenue Deposit. Only ~50% of the original Target Deposit is included in the new NI43-101 Resource.
92% - Cu
74% - Au
81% - Mo
59% - Ag
Primary grind size of 120 microns. No test work was done to maximize concentrate grades.
Typical and simple regents were used for floatation.
Recoveries compare favourably to other Cu-Au porphyry deposits in western North America.
The Revenue Zone extends from the eastern edge of the Nucleus gold deposit southeast for approximately six kilometers, and spans approximately four kilometers north-south.
Modeling and data compilation at the Nucleus and Revenue zones has identified a significant gold and copper soil anomaly covering 24 km2 with values reaching over 1000ppb gold and 500ppm copper. The million ounce Nucleus Gold Deposit sits on the western side of this anomaly.
The Nucleus Deposit remains open to further expansion and it is thought to be part of a much larger system that extends into the Revenue Zone. The analysis of compiled historical work, the extensive soil anomaly, and geophysics suggests the potential for a large porphyry Au ± Cu ± Ag ± Mo system in the Nucleus and Revenue Zones. The geological and mineralogical characteristics of the Revenue Zone are similar to deposits in the region which have developed multi-million ounce gold resources with multi-billion pound copper resources.
The 60 line-km Titan Geophysical Survey completed in the summer of 2010 encompassed a 30 sq km area including the Nucleus and Revenue Zones. To date, drill testing at the Nucleus and Revenue Zones has tested only a very small portion of the significant chargeability anomaly (near direct indication of mineralization). An intial target deposit was outlined based on this drilling and can be seen in the figure below.
Drill Results
Table 1. Significant Gold, Copper, Silver and Molybdenum Intercepts From the 2011 Revenue Zone Drill Program
| Hole # |
From |
To |
Length (m)1 |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Mo (%) |
AuEq (g/t)2 |
| RVD11-014 |
282.2 |
492.3 |
210.1 |
0.20 |
1.94 |
0.07 |
0.01 |
0.46 |
| Incl. |
300.9 |
330.7 |
29.8 |
0.39 |
1.54 |
0.18 |
0.02 |
1.02 |
| and |
387.9 |
409.9 |
22.0 |
0.38 |
1.59 |
0.05 |
0.01 |
0.62 |
| and |
452.6 |
465.5 |
12.9 |
0.50 |
1.64 |
0.13 |
0.03 |
1.10 |
| and |
479.1 |
485.1 |
6.1 |
1.24 |
11.67 |
0.24 |
0.00 |
1.92 |
| RVD11-016 |
12.0 |
57.2 |
45.2 |
0.66 |
1.35 |
0.06 |
0.00 |
0.82 |
| RVD11-016A |
322.8 |
342.8 |
20.0 |
0.01 |
0.77 |
0.05 |
0.05 |
0.63 |
| RVD11-016A |
377.3 |
483.0 |
105.8 |
0.07 |
1.49 |
0.09 |
0.05 |
0.79 |
| Incl. |
391.4 |
427.4 |
36.0 |
0.10 |
2.37 |
0.15 |
0.11 |
1.66 |
| RVD11-019 |
42.8 |
347.6 |
304.8 |
0.47 |
3.68 |
0.12 |
0.02 |
0.95 |
| Incl. |
55.2 |
89.0 |
33.8 |
0.35 |
5.26 |
0.24 |
0.01 |
1.06 |
| and |
141.5 |
263.2 |
121.7 |
0.93 |
6.20 |
0.16 |
0.03 |
1.64 |
| RVD11-020 |
192.9 |
222.5 |
29.6 |
0.47 |
2.58 |
0.07 |
0.00 |
0.69 |
| RVD11-020 |
242.4 |
399.1 |
156.7 |
0.16 |
2.53 |
0.10 |
0.00 |
0.42 |
| Incl. |
338.3 |
351.2 |
13.0 |
0.63 |
9.01 |
0.32 |
0.00 |
1.45 |
| and |
362.4 |
379.0 |
16.7 |
0.34 |
4.45 |
0.15 |
0.01 |
0.79 |
| RVD11-020 |
437.5 |
502.7 |
65.2 |
0.41 |
3.28 |
0.14 |
0.00 |
0.77 |
| RVD11-022 |
52.6 |
210.1 |
157.5 |
0.31 |
3.10 |
0.14 |
0.01 |
0.73 |
| Incl. |
72.3 |
95.4 |
23.1 |
0.36 |
4.37 |
0.20 |
0.01 |
0.94 |
| and |
102.9 |
147.3 |
44.4 |
0.42 |
4.53 |
0.19 |
0.01 |
0.99 |
| and |
161.9 |
204.1 |
42.2 |
0.25 |
3.12 |
0.14 |
0.01 |
0.71 |
| RVD11-022 |
236.1 |
304.7 |
68.6 |
0.33 |
2.46 |
0.12 |
0.03 |
0.97 |
| RVD11-022 |
461.6 |
501.8 |
40.2 |
0.22 |
2.53 |
0.03 |
0.03 |
0.60 |
| RVD11-026 |
93.1 |
108.6 |
15.5 |
0.16 |
3.29 |
0.11 |
0.01 |
0.50 |
| RVD11-026 |
123.9 |
235.5 |
111.6 |
0.16 |
2.63 |
0.11 |
0.01 |
0.54 |
| Incl. |
167.2 |
176.9 |
9.7 |
0.45 |
6.64 |
0.27 |
0.03 |
1.39 |
| and |
194.6 |
215.5 |
20.9 |
0.23 |
4.20 |
0.19 |
0.02 |
0.94 |
| and |
219.0 |
229.5 |
10.5 |
0.22 |
3.57 |
0.14 |
0.01 |
0.68 |
| RVD11-026 |
312.7 |
330.6 |
17.9 |
0.15 |
0.73 |
0.07 |
0.02 |
0.54 |
| RVD11-028 |
48.2 |
65.6 |
17.4 |
0.18 |
1.53 |
0.08 |
0.00 |
0.41 |
| RVD11-028 |
78.0 |
301.3 |
223.3 |
0.36 |
3.98 |
0.18 |
0.08 |
1.58 |
| Incl. |
112.2 |
135.0 |
22.8 |
0.60 |
5.55 |
0.30 |
0.02 |
1.50 |
| and |
146.7 |
272.3 |
125.6 |
0.44 |
5.15 |
0.21 |
0.13 |
2.29 |
| RVD11-031 |
235.7 |
374.4 |
138.6 |
0.26 |
1.85 |
0.08 |
0.02 |
0.69 |
| Incl. |
288.7 |
296.1 |
7.4 |
2.16 |
14.02 |
0.77 |
0.04 |
4.39 |
| and |
307.7 |
324.5 |
16.8 |
0.30 |
2.73 |
0.12 |
0.07 |
1.34 |
| RVD11-031 |
461.6 |
471.6 |
10.0 |
0.26 |
1.95 |
0.07 |
0.01 |
0.52 |
| RVD11-032 |
390.4 |
548.0 |
157.6 |
0.24 |
1.42 |
0.04 |
0.01 |
0.42 |
| Incl. |
419.1 |
457.8 |
38.7 |
0.74 |
4.21 |
0.09 |
0.01 |
1.07 |
1 True widths unknown
2Au equivalent metal prices: US$1,016.00/oz gold, US$2.95/lb copper, US$15.82/oz silver and US$34.88/kg molybdenum (3 yr average; no discount for metallurgical recovery in contained metal figures).
Photo Gallery
The Revenue Zone extends from the eastern edge of the Nucleus gold deposit southeast for approximately six kilometers, and spans approximately four kilometers north-south. 
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