(1) Based on a 3 year trailing average
(2) Where OP stands for Open Pit and UG stands for Underground
To view a map associated with this release, please visit the following link: http://media3.marketwire.com/docs/CGJ510image1.pdf.
Lynn Lake Gold Camp Update
Preliminary Economic Assessment: In 2013, the Company will be focusing its efforts on producing a Preliminary Economic Assessment ("PEA") on the Lynn Lake Gold Camp. The PEA will include the MacLellan Mine, Burnt Timber, Linkwood and Farley Lake Mine Projects with a central milling facility in the Lynn Lake area. Completion is expected later in 2013. The concept behind this PEA is to provide the Company and its investors with parameters that will demonstrate the economic viability of Carlisle's entire Lynn Lake Gold Camp. The study will stage the four projects going into production over an 8-10 year period, most likely starting with the MacLellan Mine Project. This proposed timing sequence will alleviate the need for all of the construction capital up front, allowing some capital costs to be covered by internal cash flow.
Farley Lake: In 2012, the Company completed a 25-hole drill program on its Farley Lake Mine Project and produced an initial NI 43-101 resource estimate on May 6, 2013. During the drill program and resource delineation, the Company discovered a number of zones at depth that will be the basis of future drill programs to increase resources. The 7,650 metres of drilling completed in 2012 was focused over an 800-metre strike length at the west end of the Farley Lake Mine Project, near the previously mined pits.
To view a map associated with this release, please visit the following link: http://media3.marketwire.com/docs/CGJ510image2.pdf.
Dunvegan Zone: The Company recently discovered a new zone of interest to the west of the Linkwood Project along the Johnson Shear. The zone shows similar geological characteristics to Linkwood and Burnt Timber. The zone has historical data that shows approximately 80 drill holes along strike going west for approximately 4 to 5 km. Induced Polarization geophysics will be carried out on this zone in Q4 2013.
To view a map associated with this release, please visit the following link: http://media3.marketwire.com/docs/CGJ510image3.pdf.
Data Analysis Program: During Q4 2012, Carlisle launched a program to create a data room to organize over 80 years of data on the Lynn Lake properties in combination with the most recent work done by Carlisle over the past two years. This data includes almost 5,000 drill logs and their assays, as well as geological maps and studies, numerous geophysical surveys, and the entire suite of assessment files and Government work done specifically on Carlisle's Lynn Lake Camp. The Data Room has aided the Company by providing easier access to the entire library of work and improved the integration with the most recent work completed.
The mineral resource estimates on the projects above were undertaken by P&E Mining Consultants Inc. ("P&E") for Carlisle under the supervision of Eugene Puritch, P.Eng., President of P&E, who is a Qualified Person as defined by NI 43-101 with more than 30 years of experience in exploration and development of gold projects.
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