1: Rounded to nearest 10 thousand.
2: High value capped at 25 g/t Au on assays.
3: Rounded to nearest 1 thousand.
Geology
The Marban mineralized system has a funnel shape corresponding to a 400 to 700 metres wide multi-folded structure in the upper part and a more steeply dipping root at depth, with thicknesses in the range of 100 to 200 metres. Mineralized zones and structures are developed in east-west oriented schistosed basalt altered to carbonate, chlorite and albite. Shear zones dip 45 degrees to 70 degrees to the north and are from 10 to over 70 meters wide. Gold grade typically correlates with an increasing density of quartz veining associated with disseminated pyrite and pyrrhotite. The hanging wall and footwall are composed mainly of ultramafic units.
The historical production from this mine is 1.98 million tonnes at 5.27 grams of gold per tonne for 330,000 ounces produced.
Marban Property Mineral Resources
The Marban deposit currently represents the core of the mineral resources located on the Marban property. The Norlartic and Kierens deposits represent two additional mineral resources, reported on by Mine Development Associates (MDA) December 1, 2009. The project comprises 3 mining lease and 42 claims covering 976 hectares.
The following table provides the details of the total mineral resources for the Marban Block property, as updated by the SGS September 2012 mineral resource estimate on the Marban deposit. Note that MDA's previous estimate on the Marban deposit used a cut-off grade of 2.5 g/t, compared to SGS's use of a cut-off grades of 0.35 g/t and 2.0 g/t.
Table 4: Marban Block property - Mineral Resource Summary
------------------------------------ September 6, 2012---------------------------------------------------------------------------- Cut-off Grade Grade Gold(2) Deposit (Au g/t) Category Tonnes(1) (g/t Au) (Ounces)---------------------------------------------------------------------------- 0.35 Marban In-pit M+I 20 700 000 1.58 1 053 000 Inferred 3 780 000 1.6 194 000 -------------------------------------------------------------- 2.0 Underground M+I 980 000 2.82 89 000 Inferred 800 000 2.68 69 000---------------------------------------------------------------------------- Norlartic(4) 0.5 / 2.5(3) M+I 5 420 000 1.82 316 000 Inferred 3 200 000 1.44 148 000---------------------------------------------------------------------------- Kierens(4) 0.5 / 2.5(3) M+I 1 440 000 2.19 101 000 Inferred 1 780 000 1.73 99 000---------------------------------------------------------------------------- Total M+I 28 540 000 1.7 1 559 000 Inferred 9 560 000 1.66 510 000---------------------------------------------------------------------------- ------------------------------------ December 1, 2009---------------------------------------------------------------------------- Cut-off Grade Grade Gold(2) Gain Deposit (Au g/t) Tonnes(1) (g/t Au) (Ounces) (Ounces)---------------------------------------------------------------------------- Marban 1 053 000 194 000 -------------------------------------------------------------- 2.5 1 240 000 4.55 181 000 (92 000) 870 000 4.08 114 000 (45 000)---------------------------------------------------------------------------- Norlartic(4) 0.5 / 2.5(3) 5 420 000 1.82 316 000 3 200 000 1.44 148 000---------------------------------------------------------------------------- Kierens(4) 0.5 / 2.5(3) 1 440 000 2.19 101 000 1 780 000 1.73 99 000---------------------------------------------------------------------------- Total 8 100 000 2.3 599 000 960 000 5 850 000 1.92 361 000 149 000----------------------------------------------------------------------------
