ARTHUR’S SEAT PROJECT

SUMMARY / GEOLOGY

The project is underlain by andesitic volcanic rocks of Arthur’s Seat and Bull Head Formations. At surface, widespread copper mineralization occurs in fractures, shear zones and veins. Mineralization is accompanied by porphyry-style hydrothermal alteration and secondary copper oxides at surface. The wide extent of copper mineralization is confirmed by high anomalous copper in rock chip samples and regional scale geophysical anomalies.

POTENTIAL

Based on exploration to date, Arthur’s Seat has the clear potential to host a significant porphyry copper deposit similar to the Main Ridge and Bellas Gate projects.

RECENT RESULTS

Drilling results have returned excellent grade over significant lengths at numerous target areas at the BGP (refer table below, press releases or the NI-43-101 reports for further information). The BGP has an incredible amount of copper in soil anomalies with several walk-up drill targets, many without any previous drilling. Magnetic Inversion modelling indicates a large magnetic body beneath the Coffee Anomaly which is yet to be tested.

PREVIOUS EXPLORATION

• Historically, Noranda explored the area in the 1960s. Historical work identified 55 copper occurrences
• Fenton(1979) reviewed the copper occurrences for the Geological Survey Division
• During the 1980s, 44 stream sediment samples were collected as part of the CIDA program
• Noranda rocks collected at Peters Hill assayed up to 3.0% Cu
• Carube collected rock chips near Old Woman’s Hill prospect that assayed up to 0.5% Cu
• Priority targets are Brandon Hill, Peters Hill, Santa Maria and Old Woman’s Hill

GEOPHYSICAL DATA MAGNETIC & GRAVITY ANOMALIE

• Noranda interpreted that a buried copper oxide and porphyry copper style deposit may be present at shallow to moderate depths
• Regional magnetic and gravity survey data indicate a deeper magma chamber
• 3D MagInversion should identify magnetic anomalies (apophyses) emanating off the interpreted magmatic chamber at depth

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