Hepburn (Copper/Silver IOCG)

South Alteration Zone Assay Results

Sample Copper (%) Silver (g/T) Gold (g/T) Uranium (ppm) Bismuth (%)
1 19.8 72 0.072 0.169
2 7.6 32.5 0.216 0.124
3 5.8 31.1 0.15 0.0356
4 4.1 123 0.258 264 0.028
5* 2.49 13.3
6* 1.44 19.4 0.019
7 1.07 8.9
8 0.91 3.3 0.0252
9 0.653 3.2
10 0.616 10.5
11 0.526 3.4
12 0.467 5.6
13 0.376 3.4
14* 0.232 3.4 0.275 0.0173
15 0.126 7.2 2010
16 0.0379 0.1 4340
* All grab samples with the exception of samples 5, 6 & 14 are chip samples over 0.5, 0.4 & 0.55 metres respectively. Samples were collected from 2006 through 2011.

Hepburn has been established as a large-scale, drill-ready Iron Oxide Copper Gold (IOCG) target with high-grade and high tonnage potential. At this stage, Hepburn exhibits qualities typical of a tier one IOCG deposits such as Olympic Dam, Ernest Henry and Prominent Hill. The geology at Hepburn is a highly magnetic Proterozoic package of sedimentary & volcanic rocks intruded by late felsic intrusions. These rocks are crosscut by multiple faults demonstrating ideal ground preparation for hydrothermal fluids (see map).

Mapping by an independent IOCG specialist delineated two hydrothermal zones of magnetite, potassium and hematite (iron-oxide) alteration typical of IOCG deposits. These zones of alteration extend for more than 2.5km along strike and are up to 500m wide.

An Induced Polarization (IP) survey over the property identified an IP chargeability anomaly coincident with the southern alteration zone. The geophysical signature measures 2.5km in strike length by 200-300m in width and remains open to the west and south east. A secondary, northern zone of increased chargeability values accompanied by IOCG alteration signatures also exists on the project area but due to topography has not yet been completely delineated.

North Alteration Zone Assay Results

Sample Copper (%) Silver (g/T) Gold (g/T) Uranium (ppm)
1 40.2 197 0.635
2 30.9 133 0.151
3 23.4 116 0.202
4 15.5 70 0.136
5 9.22 41 0.044
6 5.08 35.2
7 3.29 1129 0.052 215
8 2.97 156 0.06
9 2.57 18.6
10 2.07 46 608
11 1.65 729 3099
12 1.18 77.6 0.196
13 1.09 5.2
14 1.09 10.3
15 1.04 3.8
16 0.79 3
17 0.671 2.6

Supporting the alteration zones and IP anomalies as an IOCG target, grab and chip sample results from the zones exhibit high copper (up to 40.2%), silver (up to 1129 g/T) and uranium (up to 4340 ppm). Assays have also returned elevated gold (0.635 g/T) and bismuth (0.17%) values. As well, chip sample collected over 0.5m resulted in 2.5% copper and 13.3 g/T silver.

IOCG type deposits are often associated with deep seated, continental scale structures. The Hepburn target lies along the Wopmay Fault within the Great Bear Magmatic Zone which is considered one of Canada's most prospective IOCG terrains.

Further interpretation and modeling of the IP data to better define drill targets is underway. Currently a 2500 metre drill program is recommended for the Hepburn project. The 100% owned Hepburn property is located in Northwest Territories, approximately 470km north of Yellowknife and about 200km from the Arctic coast.

Copper Assay Results Coincident with Alteration, IP & Geology
Silver Assay Results Coincident with Alteration, IP & Geology