Historical Resources
The Company is currently drill testing the reported historical resources with the objective of being able to upgrade them to NI 43-101 standards.
The Copper Mountain has a substantial reported historic resource surrounding previously mined open pits. There are unexplored areas between the pits and at depth. Additional drilling is planned to evaluate the surrounding areas plus test the mineralization at depth.
Historical Mineral Resources* -Similco Mines Inc (Dec. 31, 1996)
| Deposit/Area | Tonnage (000's) |
Grade (% Cu) |
Cut-off (% Cu) |
Strip Ratio (W:Ore) |
|
| Pit 3 Phase 1 | 37,537 | 0.478 | 0.23 | 2.22:1 | |
| Pit 3 Phase 2 | 21,100 | 0.493 | 0.23 | 2.57:1 | |
| Pit 2 | 39,000 | 0.330 | 0.20 | 1.78:1 | |
| Virginia | 1,439 | 0.420 | 0.21 | 1.37:1 | |
| Salvage & Other | 1,120 | 0.403 | 0 | ||
| Oriole | 2,923 | 0.437 | 0.23 | 3.70:1 | |
| Ingerbelle | 39,288 | 0.329 | 0.20 | 1.74:1 | |
| 142,407 | 0.397 | - | 2.03:1 | ||
| Inferred Resources | |||||
| Alabama | 29,000 | 0.352 | 0.20 | N/A | |
| * These resource estimates are reported in the Princeton Mining Corporation, December 31, 1996 Annual Report and were reported in the Orequest Technical Report dated June 15, 2007. The Technical Report is filed on Sedar. Historical Resources should not be relied upon; however, they were obtained from reliable sources and are deemed relevant. Peter M. Holbek, P.Geo. is the Qualified Person as defined in NI 43-101 for reporting purposes. | |||||
