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IP-Mag Survey

A combined Induced Potential (“IP”) / Magnetometer survey was completed in late July, 2014, comprising approximately 8.3 line km.

In connection with the Self-Potential (“SP”) survey the survey identified two conductive anomalies of interest.

The first anomaly is located on the Baseline immediately south of Line 8N, with the second anomaly located slightly west of the Baseline and north of Line 6N.

IP Survey - Chargeability
IP Survey – Chargeability

Initial modelling of the second anomaly was interpreted to suggest the anomaly is located at a depth of

IP Survey - Resistivity
IP Survey – Resistivity

approximately 52 metres below surface.

Results from the magnetometer survey confirm the presence of the two anomalies described above, as being two components of a much larger anomaly. The main portion of this magnetic anomaly lies to the south of Line 6N and southwest of the existing road network. A review of
previous results, particularly those from the 2012 drill program, are interpreted to suggest that moderately to strongly anomalous gold values are associated with intervals having strong pyrrhotite mineralization. Pyrrhotite is both magnetic and strongly conductive, therefore, a coincident SP (i.e. conductive) / magnetic anomaly may indicate the presence of elevated pyrrhotite content, potentially with elevated gold values. The magnetic anomaly (described above) is part of a trend of at least 5 similar anomalies, ranging from 35 m in diameter to an elongate anomaly 82 m wide by a

Magnetic Survey
Magnetic Survey

minimum of 170 m length, extending approximately 600 m south-southwest x 85 m wide. The first SP anomaly (described above) represents the northernmost portion of this well developed, strongly magnetic string of anomalies. Therefore, the magnetic anomaly, with a coincident SP anomaly at the northernmost extent, represents a high priority drill target, particularly since a large portion of the anomaly identified has not been tested by any previous holes.