The Property is located in northern Manitoba, approximately 1000 km northwest of Manitoba's capital city, Winnipeg. Access to the Property is via an all weather gravel road running to the former mine site from the town of Lynn Lake, located 9 km southwest of the Property. The long mining history of northern Manitoba, in general, and of Lake Lynn in particular, is a testament to the abundance of material and human resources that are available in the region to support a mining operation.
Over 2,000 drill holes with excess of 200,000m of drilling completed to date
Currently drilling 25,000m with 3 drills in 2011
Past production: 970,000 tonnes of 5.63 g/t for 142,000 ounces Au
Existing infrastructure; easy access to Town of Lynn Lake
Current resources: 1.2 million ounces Au Eq. (NI 43-101 compliant)
Approx. 9:1 Silver/Gold ratio
Preliminary Economic Assessment expected by year-end 2011
New NI 43-101 compliant resource expected Q1 2012
Existing NI 43-101 Resource
Open Pit and Underground - August 2010 (1.0 g/t Au Eq Cut-Off Grade)
Significant Exploration Upside
Currently drilling with 3 drills: forecast 25,000m by year end 2011
Target of 750k oz in a potential Measured and Indicated open pit resource
Existing resource on only 800m of strike length vs. 2,500 m of known strike potential from historical drilling
Additional depth potential: current NI 43-101 pit was calculated only to a depth of 220m
Given the higher price of gold and new drilling information, the next resources calculation will be increased to approx. 350m in depth
Near-Term Open Pit Potential
Nearly 600,000 oz located in an open pit down to a depth of 220m
Average grade 3.14 grams Au/T plus 32 gram Ag/T (US$150/t rock)
Management estimates that at 2000 T/day, this open pit portion of this deposit could produce ~75,000 ounces AuEq for eight years (not NI 43-101 compliant)
Infrastructure at Lynn Lake
