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Exploration Work

In 2007 and 2008, Metallic Minerals conducted prospecting programs to locate the veins, trenches and drill holes reported by CMSC between 1926 and 1929. Rock samples from outcrop and float verified grades reported by CMSC. Highlights, summarized in the table below, include a grab sample from the Snowdrift vein which returned 15.6 g/t Au, 668 g/t Ag, 2.40 % Pb, 0.94 % Zn and 3.9 % Cu; a 1.5 m wide chip sample from the same vein of 1.37 g/t Au, 57.2 g/t Ag, 1.51 % Pb, 4.70 % Zn and 0.63 % Cu and a grab sample from the No. 8 vein yielding 16.8 g/t Au, 646 g/t Ag, 27.0% Pb, 0.14% Zn and 0.64% Cu.

During the 2007 and 2008 programs, 17 veins were located and sampled, confirming grades reported from these veins in the 1920's.

Vein No.Sample NumberWidth (m)Au (g/t)Ag (g/t)Pb (%)Zn (%)Cu (%)
Blackhawk29889grab0.9048454.68.30.53
Blackhawk29890grab0.5155147.31.16?0.51
Blackhawk29891grab0.3411216.54.10.29
Blackhawk W526244grab1.141000.30.21.46
No. 1 West29887grab0.7750246.40.52.40
SnowdriftMK06grab15.606682.40.93.90
Snowdrift5261961.51.37571.54.70.63
Snowdrift29886grab2.4953447.00.52.16
Snowdrift29885grab0.0947046.50.30.60
Snowdrift526150grab2.611740.40.10.69
2MK07grab0.0234228.00.30.03
2526195grab0.1134229.31.30.32
2526147grab0.2260835.23.53.22
2526148grab0.0236646.80.00.02
6MK08grab0.0732432.03.20.04
6526194grab0.0751630.21.30.19
65262381.1m0.8368340.50.40.78
6526239grab0.5752850.68.71.52
6, 7 or North526243grab3.3036021.810.34.10
North526241grab1.8437222.77.01.96
8MK01grab0.0623426.00.10.28
8MK02grab16.8064627.00.10.64
8MK03grab0.3971033.00.50.49
8526198grab0.0912514.96.80.26
9MK09grab0.3636625.06.90.72
929896grab0.591325.12.32.24
Bella29895grab0.458415.21.01.06

In 2009, additional claims were staked to cover known vein extensions and the White Hill showing and an exploration program was conducted which successfully located and delineated the White Hill showing and highlighted a 450 m x 300 m zone of soil geochemical anomaly.

A SkyTEM electromagnetic geophysical survey was conducted to characterize the geophysical signature of known gold and silver mineralization on the property and generate exploration targets outside of the known occurrences. In addition, a mapping and prospecting program was executed on the property to constrain the structural architecture of the project area and assist in targeting both along strike and down-dip extensions of known mineralization as well as to identify areas outside of the central claims with similar structural settings which may have potential to host further mineralization.

Results of the SkyTEM survey at McKay Hill highlighted several areas on the property with similar geophysical properties to those of the known veins and associated alteration. The survey indicates that known mineralization is associated with a magnetic low on the margins of a magnetic high, interpreted to reflect magnetite destructive alteration. This pattern is seen elsewhere in untested areas of the property and suggests the potential for further undiscovered veins in the northeast of the property. Resistivity data indicate that known mineralization is associated with resistivity highs, interpreted to reflect alteration associated with gold and silver mineralization. The survey identified at least four sub-parallel zones with similar high resistivity in the same orientation as known mineralization in untested areas of the property.

A mapping program, which was designed to evaluate the structural controls on mineralization at McKay Hill identified four deformation events on the property. Prospecting identified a new, previously unknown outcropping vein set, which returned best results of 288.8 g/t Ag, 10.94 % Pb and 1452 ppm Zn from an iron carbonate-altered conglomerate. Results of the geophysical survey and the structural mapping project have refined exploration targets in the central claims area of the McKay Hill prospect and identified new targets outside of the areas of historic focus.

Follow-up reconnaisance work, including the collection of high-resolution satellite imagery and soil/rock sampling will be conducted on the property is planned for 2017.

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