The Mineral Resource estimate has been generated from drill hole sample assay results and the interpretation of a geologic model that relates to the spatial distribution of copper in the deposit. Grade estimates are made using ordinary kriging constrained within individually identified geological beds using sample data composited to 5-foot intervals into model blocks measuring 25 feet by 25 feet along strike and down dip and 5 feet perpendicular to the structure. A comprehensive geological model that encompasses all known mineralization was constructed. Within the framework of the comprehensive model, individual skarn beds and the presence of intrusive sills were estimated incorporating LVA (locally varying anisotropy) kriging techniques. Mineralization within each of the individually identified skarn beds was estimated independently using only the assay data identified as being within that skarn bed. The resulting tons and grade represent an estimate of what would be expected to be extracted at the time of mining (i.e. fully diluted). Statistical checks were made to ensure that the level of dilution incorporated into the model was consistent with what would be expected with mining selectivity of 25 x 25 x 5 feet. That is the expected level of selectivity within the underground stopes would be +/- 5 feet on the hanging wall and +/- 5 feet on the footwall. It is assumed that any additional dilution will be unnecessary when evaluating minable stopes. Resources have been classified using estimation variance and are reported according to the CIM definition standards for Mineral Resources and Mineral Reserves.
Mr. Barnes has verified the technical and scientific information including sampling, analytical and test data underlying the information or opinions relating to the Mineral Resource estimate. This verification was done during visits to the Oracle Ridge site and reviewing the data that was produced.
There are no known legal, political, environmental, or other risks that could materially affect the potential development of the Mineral Resources.
A technical report supporting this disclosure will be filed under the Corporation's profile on SEDAR (www.sedar.com) on or before the filing of the Corporation's annual information form for the year ended December 31, 2012. The Corporation plans to resume drilling during the second quarter of 2013. The goal of the drill program will be to potentially expand the Mineral Resource estimate and upgrade Mineral Resources, if possible, to a higher Mineral Resource category.
The Mineral Resource estimate has been prepared by, or under the supervision of, Mr. Tracy Barnes, P.E. of Barnes Engineering Services of Golden, Colorado. Mr. Barnes is an independent "qualified person", within the meaning of NI 43-101 and has reviewed and approved the scientific and technical information included in this news release relating to the Mineral Resource estimate.
The assay drill results and geological technical information has been prepared by, or under the supervision of, Mr. Glenn Clark, P.Eng., of Glenn R. Clark & Associates Limited of Ontario, Canada. Mr. Clark is an independent "qualified person", within the meaning of NI 43-101 and has reviewed and approved the scientific and technical information included in this news release relating to the assay drill results and geological technical information.
Messrs. Barnes and Clark will co-author the technical report supporting this disclosure to be filed under the Corporation's profile on SEDAR (www.sedar.com) on or before the filing of the Corporation's annual information form for the year ended December 31, 2012.
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