The effective date of the mineral resource estimate is May 23rd, 2012. Mineral resources were estimated for the Liard (also referred to as the Main) zone and the Paramount (previously referred to as the Paramount-Breccia) zone separately. The mineral resources were estimated using criteria consistent with the CIM Definition Standards (2010) and in conformity with CIM "Estimation of Mineral Resources and Mineral Reserves Best Practice" (2003) guidelines. The estimated mineral resources using a 0.15% Cu Eq. cut-off grade are categorized and tabulated in Table-1. The Base Case numbers presented in the following tables have been rounded to reflect "Best Practice Principals" as established by the CIM.
Table-1: Mineral Resource Estimate -- Schaft Creek Deposit
Robert Morrison - Ph.D., MAusIMM (CP), P.Geo., Effective Date: May 23rd, 2012
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Cautionary Note to Investors
While the terms "measured (mineral) resource", "indicated (mineral) resource" and "inferred (mineral) resource" are recognized and required by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects
, investors are cautioned that except for that portion of mineral resources classified as mineral reserves, mineral resources do not have demonstrated economic viability. Investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be upgraded into mineral reserves. Additionally, investors are cautioned that inferred mineral resources have a high degree of uncertainty as to their existence, as to whether they can be economically or legally mined, or will ever be upgraded to a higher category.
Click here to view the Schaft Creek Resource Estimate, May 23, 2012