DeSantis MIne Project - Timmins, Ontario

The DeSantis property hosts at least 5 known gold bearing zones, including the Contact Zone, Hydrothermal Zone, Albitite Zone, Arsenopyrite Zone, and East Pit area. Historical reserve estimates were calculated for two of the mineralized zones (the Hydrothermal and Albitite zones), both of which were accessible by existing underground workings. The historical reserve estimate for the Albitite Zone (between the 715’ to 1,175’ levels), classified as “probable” stood at 72,212 tons with an averaged grade of 0.229 oz Au per ton.  In the 1980’s Redpath completed a $10.5 Million mine rehabilitation and drill program, exposing the Albitite zone to be open and expanding to depth. The reserve estimate for the Hydrothermal Zone was calculated to be 129,000 tons with a cut grade 0.265 oz Au per ton (cut to 1 ounce), or, 334, 308 tons grading 0.19 opt (cut to 3.50 ounces).

The above reserve estimates are historic in nature and do not have currently demonstrated economic viability, and are considered to be historical resources. Although the reserve estimates are relevant, they have not been verified.

 DeSantis Mine 3d Model

 HIghlights of the Timmins Gold Camp

• In excess of 70,000,000 ounces of gold production since 1908
  (over $8 billion at current prices)
• The largest producing gold camp in North America
• Several significant discoveries over the past few years including
  Lake Shore Gold’s Timmins West & Thunder Creek zones

Location Map

The property hosts at least 5 known gold bearing zones, including the Contact Zone, Hydrothermal Zone, Albitite Zone, Arsenopyrite Zone, and East Pit area.  Subsequent to surface and underground exploration in the 1980's, Noranda Exploration and Stan West Mining Corp reported reserve estimates for two of the mineralized zones (the Hydrothermal and Albitite zones) which were accessible by existing underground workings.  The reserve estimate for the Albitite Zone (between the 715’ to 1,175’ levels), as calculated by Stan West and classified as “probable” stood at 72,212 tons with an average grade of 0.229 oz Au per ton (Derry, Michener, Booth & Wahl, 1988).   In 1989,  Stan West (van Hees, E. H., 1989)  calculated a  reserve estimate for  the Hydrothermal Zone of 129,000 tons with a cut grade 0.265 oz Au per ton (cut to  1 ounce), or 334,308 tons grading 0.19 opt ( cut to 3.50 ounces).  (See Note 1)

The first three holes (DS–10-1, 2 & 3) were drilled primarily to test the Albitite and Arsenopyrite Zones in an area located approximately 250 meters south of the Number 2 shaft (or main shaft).   These three holes were collared on the same set up and drilled at an azimuth of 330 degrees, inclined at -80, -76, and -85 degrees respectively.  Significant gold mineralization was encountered in all three holes, including 7.88 g/t Au over a core length of 5.18 metres. 

Holes DS-10-4, 5 & 6 were drilled to confirm the tonnage and grade potential of the Hydrothermal Zone (HTAZ) in an area approximately 210m west of the main shaft. These three holes were collared on the same set up and were drilled due north, inclined at -75, -62 and – 67 degrees respectively.  Hole DS-10-06 intersected a broad zone of gold mineralization, grading 2.71 g/t Au over a core length of 19.2 metres including 6.61 g/t Au over a core length of 2.44 metres.  Holes DS-10-04 and DS-10-05 intersected broad zones of anomalous gold mineralization with values up to 2 g/t Au over a core length of 0.76 metres (DS-10-04) and 2.36 g/t Au over a core length of 0.76 metres (DS-10-05).  

Significant assay results are summarized in the following table:

Since June 2010, a total of 15 holes totalling 5888 metres have been drilled with the primary objective to confirm the continuity and grade of gold mineralization reported in historic underground and surface drilling. The DeSantis Mine lies immediately north of the Destor Porcupine Fault Zone, and is located approximately mid way between the Hollinger Gold Mine and Lake Shore Gold’s Timmins West Mine. The property consists of approximately 818 hectares and covers a regional strike length of approximately 5.1 kilometres.

Four of the nine holes (DS-10-7 to DS-10-10) were drilled to further test the Hydrothermal Zone (HTAZ) at depths varying from 175 to 225 metres vertically below surface. These holes were collared approximately 150 to 200 metres west of the Main Shaft, with holes DS-10-8 and DS-10-9 drilled from the same set up. All holes were drilled from south to north. The HTAZ was intersected in each hole, consisting of zones of strong deformation and alteration, including quartz carbonate veining, tourmaline, pyrite, arsenopyrite and anomalous gold mineralization. Significant results are summarized in the following table.

Note: DS-10-07 intersected anomalous gold values, up to 0.88 g/t over a core length of 0.61 metres.

Five holes, DS-10-11 to DS-10-15 were drilled to test the “Green Carbonate” and “Albitite” zones at depths ranging from 300 to 400 metres vertically below surface, and approximately 20 to 70 metres east of the Main Shaft. Holes DS-10-11 and DS-10-12 veered to the west, and intersected a diabase dike prior to reaching target depth. Holes DS-10-14 and DS-10-15 intersected a highly altered, fractured porphyry system (termed “white albitite zone” in historical drilling) which intrudes a broad zone of carbonate and fuchsite altered ultramafics rocks. Gold mineralisation was found to occur within the porphyry and altered host rock. Significant results are summarized in the following table

Note: Holes DS-10-13 and DS-10-14 were drilled from the same set up.

The geometry of this gold bearing porphyry system is poorly understood due to limited drilling in the area. Follow up exploration on this zone, especially at depth, will be the primary focus of the next phase of drilling, expected to commence in January 2011.

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