Vogel

In March 2005, the Company purchased 100% of the Black Hawk Mining Inc. interest under the mining lease on the Vogel Gold Property.  The Property, which is subject to a maximum 3% NSR royalty, consists of one mining lease (approximately 160 acres) in Hoyle Township, within the eastern part of the Timmins Gold Camp, that straddles a 800-metre section of the favourable gold bearing stratigraphy between the Hoyle Pond and Bell Creek gold deposits.  The Hoyle Pond deposit (currently in production), located two kilometres to the east of the Property, has the highest head grade of all significant past and present gold producers in the Timmins Gold Camp, and the Bell Creek deposit (former producer) is located 1.4 kilometres to the west of the Property.

 

 

The Vogel Property has been explored by several companies in the past and contains a historic (not considered National Instrument 43-101 compliant) measured and indicated resource estimate of 642,999 tonnes at 12.7 grams per tonne gold and an inferred resource of 933,800 tonnes at 12.7 grams per tonne gold.

 

The Company has not completed the work necessary to verify the classification of the resource and as such any historic estimates should not be relied upon.

 

In August 2005, the Company initiated a 4,000 metres first phase drill program to test for flat vein structures and north-easterly oriented veins, both of which have not been the focus of any previous drill program, yet constitute a very important gold host within the adjacent Hoyle Pond Mine.