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Resource & Reserves
Following the 2005 drilling program, a new National Instrument 43-101 compliant mineral resource estimate was made. Measured & Indicated resources are 4.46 million tonnes grading 12.14% zinc, 354.8 grams per tonne silver, 1.16% copper, 1.69 grams per tonne gold and 1.58% lead (at US$80 cut-off). Inferred resources are 1.69 million tonnes containing 12.16% zinc, 385.4 grams per tonne silver, 1.23% copper, 1.71 grams per tonne gold and 1.74% lead (at the same cut-off). The Inferred resources are in the deeper portion of the deposit and require additional in-fill drilling to improve resource confidence.
| Wolverine Deposit Resource as of January 10, 2006 |
| Resource Category |
Tonnes |
Zinc (%) |
Silver (g/t) |
Copper (%) |
Gold (g/t) |
Lead (%) |
| Measured |
493,000 |
12.44 |
298.8 |
1.18 |
1.50 |
1.48 |
| Indicated |
3,968,000 |
12.10 |
361.8 |
1.16 |
1.72 |
1.59 |
| Total |
4,461,000 |
12.14 |
354.8 |
1.16 |
1.69 |
1.58 |
| Inferred |
1,693,000 |
12.16 |
385.4 |
1.23 |
1.71 |
1.74 |
| The new resource estimate was prepared by Independent Qualified Persons (within the meaning of NI 43-101) Gary Giroux, P.Eng. of Giroux Consultants Ltd. of Vancouver, BC, and Mr. Cliff Pearson, P.Geo. of Pearson Geological Ltd. of Victoria, BC. |
| Wolverine Deposit Reserves as of May 9, 2006 |
| Reserve Category |
Tonnes |
Zinc (%) |
Silver (g/t) |
Copper (%) |
Gold (g/t) |
Lead (%) |
| Proven |
583,043 |
10.01 |
241.9 |
0.94 |
1.22 |
1.21 |
| Probable |
4,625,303 |
9.50 |
283.8 |
0.90 |
1.35 |
1.25 |
| Total |
5,208,346 |
9.71 |
284.2 |
0.93 |
1.37 |
1.26 |
| Mr. Richard Goodwin. P.Eng. was the Qualified Person for the Mining Section of the feasibility study; Mr. Al Polk, P.Eng. of Snowden MIC was acting as the Independent Qualified Person. |
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