This webpage contains mineral resources disclosure information within the meaning of applicable securities laws. The mineral resource statements on this webpage include but are not limited to statements with respect to: the existence of sources of molybdenum the Company’s mineral permit holdings in British Columbia, the historical concentrations of molybdenum in the Company’s project areas (the “Historic Estimate”).
A qualified person has not done sufficient work to classify this historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. The historic estimates should not be relied upon and there can be no assurance that any of the mineralization, in whole or part, will ever become economically viable.
|Source and date of the Historical Estimate (including the existing technical report, if any)
||The Resource estimate was last updated on Jan 11, 2008, by G.H. Giroux, P.Eng., MASc. from Giroux Consultants Ltd.
|Relevance and reliability of Historical Estimate
||Management understands that no development has taken place since the date of the report which at the time was owned by Volt (formerly Torch River Resources). The claim titles and locations have been verified by Volt.
|Key assumptions, parameters, and methods used to prepare the Historical Estimate
||This report is based on a review and digital compilation of available historical data, including detailed diamond drill hole logs for 57 holes completed by Craigmont Mines Ltd. in 1979 and 1980. In addition to the historical data, in July of 2003, In July 2003, Andris Kikauka, P. Geo. on behalf of Fundamental Resources Limited visited Red Bird and sampled 101 metres of drill core from holes 79-95 and 79-96 (Kikauka, 2004). A total of 21 samples (all 5 metre lengths except one 1 metre length) were submitted for 47 element ICP analysis. During the 2006 field season Scott Geophysics Ltd. completed a limited Induced Polarization (IP) study and Magnetometer survey on the Red Bird Property (Scott, 2006). A total of 6.7 km of IP and Magnetometer survey was completed on six north-south lines. Also during the 2006 field season soil Geochem samples were taken at 50 m spacing along the lines used for the geophysical surveys. A total of 143 soil samples were collected and run for 30 element ICP. The results from the 2005 re-sampling of historic drill core and 2006 drill programs resulted in the development of the Historical 43-101.
|Resource categories used (see CIM Definition Standards on Mineral Resources and Mineral Reserves)
||The resource categories are indicated mineral resource and inferred mineral resource.
|More recent estimates or data available
||No further work has been performed since the Historic 43-101.
|Work that needs to be done to upgrade or verify the historical estimate as current mineral resources or mineral reserves
||An independent Qualified Person will be required to review and validate the historical data and historical estimates and compile an updated current Technical Report in accordance with NI 43-101.