February 2012
Page 1 of 12
THE PRESIDENT’S REPORT
This is actually the ex presidents report. February 16 The Chamber of Mines of Eastern BC held its annual meeting and
your new president is Lloyd Addie. I want to thank everyone who has supported the chamber for my term as president,
which lasted three years, and I hope that those supporters and others will continue to help. It is important that the
chamber continue to operate as it has since 1925. Over the years the chamber has kept government aware of the
positions of our membership on the various issues. The things that the chamber does for its members and our community,
besides displaying rocks and maintaining a library, have evolved and now one of the main jobs of the chamber is to
advocate for the mining and exploration industry with the public. One of the most important ways of accomplishing that is
by keeping our doors open. That is becoming more of a challenge each year as costs rise even though we are a volunteer
organization with only one employee. Another way of accomplishing the connection with the public is with education
whether it is through our prospecting classes, bringing school classes to our facility or our outreach to the public where we
take every opportunity to educate the public why mining and exploration are good things. We set up a table in a public
space, like the mall, where we answer questions and provide information about our industry plus display samples and
pictures.
The chamber is also in the process of building a brochure for distribution to the public which will tell the story of many of
the old mine workings which are visible from the highway. We know there is interest because we often get questions
about them. We have collected an assortment of pictures for use in the brochure and are getting more to choose from.
The Chamber of Mines of Eastern BC will be hosting Minerals South in November this year and work has already started
on it. Besides it being a mining exploration conference, we bring school classes to the displays and booths also open
those parts to the public. Keep watching the Motherlode and you will be able to keep up with developments on the
conference.
The 2012 Board of Directors
President
st
1 Vice President
nd
2 Vice President
rd
3 Vice President
Treasurer
Lloyd Addie
Bob Denny
Tom Cherry
Dave McMichael
Paul Gergely
Nelson BC
Castlegar BC
Nelson BC
Nelson BC
Nelson BC
Directors; George Addie - Nelson BC, David W. Johnston - Calgary AB, Bob Bourdon - Nelson BC, Jarrod Brown - Harrop
BC, David A. Johnston - Nelson BC, Al Gerun - Nelson BC, Mike Hudock - Nelson BC, Gerald York - Castlegar BC,
Jeremy Major - Nelson BC, Jack Denny - Salmo BC
Administrator - Jane Swan
We would like to thank former directors Bruce Doyle and Ryan Verbruggen for their service in the past year.
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February 2012
Page 2 of 12
The Fugro crew in Kaslo
preparing for the Rainbow
resources airborne survey.
They were also spotted
around Nelson.
RAINBOW RESOURCES APPOINTS DAVID JOHNSTON PRESIDENT
TORONTO, ONTARIO, January 20, 2012 -- Rainbow Resources Inc. (TSX Venture: RBW) (“Rainbow” or the “Company”)
is pleased to announce that Mr. David Johnston has assumed the position of President of the Company effective
immediately. Mr. Brian Murray remains as CEO.
“We’re delighted to make this transition and have David take over as President,” explained Mr. Murray. “This is another
logical step in carrying out our strategic plan to develop Rainbow which will require the President’s complete focus and
attention. David will be able to provide that out of our second office in Calgary where he is also much closer to our
exploration activities in southeast British Columbia. David was the driving force in assembling an exceptional land
package in the West Kootenay over a period of several years through privately-held Braveheart Resources which
Rainbow acquired last fall. He continues to be a director of the Chamber of Mines for eastern British Columbia and knows
that area extremely well.”
Johnston has a broad background of experience. For many years he has been very active in the Calgary business
community and with several local and international charitable organizations. A former miner with Hudson Bay Mining and
Smelting, Johnston also has considerable public company experience as a director and launched an insurance company,
Capital Benefits Corp., 25 years ago that remains successful today. Commenting on the appointment, Mr. Johnston
stated: “I am very excited about the opportunity with Rainbow and my goal with this company is to move it forward
aggressively but systematically. My aim is to build a solid foundation for long-term growth and maximize shareholder
value. Immediately, my team and I are looking forward to closing Rainbow’s recently announced private placement in the
very near future and continue to work toward finalizing drill plans for our Big Strike Project in the West Kootenays after
receipt of a major geological report from Moose Mountain Technical Services, our geological consultant. W e are also
currently conducting airborne geophysics over each of our properties in the Big Strike Project, covering nearly 7,000
hectares.” For more information go to http://www.rainbowresourcesinc.com/
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February 2012
Page 3 of 12
For an interesting article and pictures about Eric and Peggy Denny click on
http://www.nelsonstar.com/news/139417553.html
SWIFT RESOURCES INC. PROVIDES PROPERTY UPDATE
Swift Resources Inc. has provided an update on its properties. The company has received the analytical results from the
recent 14-hole diamond drill program completed on the Castlegar project in Southern British Columbia. In total, 2,068
metres of drilling was completed. Three holes were drilled on the Amazing Grace property and 11 holes were drilled on
the Klovance property.
Klovance property
On the Klovance property, drilling tested known zones of polymetallic mineralization, downdip from surface exposures, as
well as testing the broad structural corridor that hosts the zones of mineralization. Two distinctly different styles of
mineralization were intersected. Polymetallic veins and veinlets are common, with sphalerite, galena, pyrrhotite, pyrite and
chalcopyrite in a quartz-calcite-plus-or-minus-epidote gangue. Although locally grades are attractive, the polymetallic
veins are of limited size and are difficult to trace any significant distance. The second style of mineralization consists of
stockwork, blebby and net-textured replacements of pyrrhotite, with lesser pyrite and chalcopyrite, and only traces of
galena and sphalerite. Mineralization of this type was intersected in several holes, over core lengths ranging from 11
metres to 60 metres. Although visually impressive, the broad zones of pyrrhotite mineralization were only locally
significantly anomalous in copper and silver, and lacked any noteworthy gold enrichment. Highlights from the drill program
are summarized in the attached table.
Hole No.
Sample
KL-11-05
22391
From
(m)
98.16
To Interval
(m)
(m)
98.50
0.34
Ag
(g/t)
Pb
(%)
Zn
(%)
39 2.23 7.58
Cu
(%)
0.474
Au
(g/t)
0.009
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KL-11-05
22416 149.32 149.70
0.38
61 0.32 0.18
1.331
KL-11-05
KL-11-06
KL-11-08
KL-11-10
KL-11-11
22417 149.70 150.18
Avg
17514 115.00 117.50
17515 117.50 120.02
17516 120.02 122.50
Avg
17526 141.83 142.14
17565 79.90 80.83
17635 96.56 96.76
17682 32.48 32.58
0.48
410 2.68 4.95
0.86 255.79 1.64 2.84
2.50
33 0.20 0.34
2.52
24 0.17 0.14
2.48
16 0.13 0.12
7.50 24.35 0.17 0.20
0.31
214 2.69 6.27
0.93
12 1.11 0.98
0.20
140 5.03 3.41
0.10
162 2.79 2.72
4.416
3.05
0.236
0.140
0.122
0.17
0.191
0.026
0.141
0.334
KL-11-11
17683
32.58
35.46
2.88
3 0.06 0.11
0.012
KL-11-11
KL-11-11
17684
17685
35.46
35.58
35.58
37.08
0.12
1.50
124 5.51 6.72
1 0.04 0.04
0.089
0.007
KL-11-11
17686
37.08
37.19
0.11
65 0.91 1.48
0.073
KL-11-11
Avg
67493 172.86 172.98
4.71
0.12
10.27 0.27 0.34
146 2.86 1.27
0.02
0.843
KL-11-06
KL-11-06
KL-11-06
less
Than 0.005
0.074
0.070
0.011
0.010
0.030
0.023
0.007
0.009
less
than
0.005
less
than
0.005
0.007
less
than
0.005
less
Than 0.005
less
Than 0.005
Amazing Grace property:
On the Amazing Grace property, hole AG-11-01 was drilled to test the Maude S showing, where narrow gold-bearing
quartz veins have been explored by several historic adits. The only result of interest was a narrow quartz vein which
returned 454.4 grams per tonne gold and 85 grams per tonne silver over the 10-centimetre vein width. Holes AG-11-02
and AG-11-03 were drilled to test the BW vein, where trenching had exposed a narrow vein that returned high-grade gold
values from select grab samples. The vein was not intersected in either drill hole or were there any analytical results of
interest from these holes.
All of the analytical results from the drill program have been received and any results of significance are reported in this
release. Widths described in this press release are core lengths and have not been corrected to true width. Core was split,
with half-core samples shipped to Acme Analytical Laboratories in Vancouver, an ISO 9001:2008-accredited laboratory.
Gold analyses were by 30-gram FA/AA (Acme method G601). Silver and base metal assays were by Acme's Group 7AR
(multielement assay by ICP emission spectrometry). A quality control/quality assurance program was implemented by the
company during the drill program, including company-inserted blanks and standards.
Linda Caron, MSc, PEng, is the qualified person under NI 43-101 who has reviewed and approved the technical content
of this news release. We seek Safe Harbor. more at www.stockwatch.com SWR
ANNUAL BANQUET
th
Our annual banquet this year will be on Saturday, March 24 , 2012 at the Hume Hotel. Doors will open at 5:00 pm
and dinner is at 6:00 pm. The guest speaker is still to be determined.
Donations for our fun filled not so silent auction are now being accepted.
Ticket prices will remain the same – only $25 per person. You can drop by the Chamber of call 2501-352-5242 for
tickets.
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February 2012
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Anglo Swiss to Start Drilling South
Extension of High-Grade Gold Vein
System at Kenville, Southeast
Vancouver – February 01, 2012 - Anglo Swiss Resources Inc.
(ASW:TSX-V, ASWRF:PK) (“Anglo Swiss” or the “Company”)
announces plans to commence a 4,000-metre diamond drilling program
at the Kenville Gold Mine project near Nelson in southeastern British
Columbia. Drilling will focus on both infill and expansion of the recently
outlined 500-metre strike extension of high-grade gold veins south of the
historic Kenville Mine. The drill program is scheduled to begin during the
second week of February, 2012 and will take approximately two months
to complete. Initial results are expected in mid-March. See maps below
(CNW to provide a link).
The southern extension of the high-grade gold vein system was
discovered by the Company in drill programs completed from 2009 to
2011. Wide-spaced drilling successfully extended the vein system 500
metres south of historic mine workings where it remains completely open
for expansion southward and to depth. Gold mineralized quartz veins
occur as multiple stacked, shallow to moderately-dipping sheets likely
extending from near-surface to vertical depths of at least 500 metres.
Previously released results from the south extension drilling include:
• 26.8 g/t Au, 54.8 g/t Ag over 1.82m in hole KE09-10
• 115.5 g/t Au, 58.1 g/t Ag over 0.50m in hole KE10-16
• 88.1 g/t Au, 130.0 g/t Ag over 0.88m in hole KE10-16
• 59.8 g/t Au, 31.8 g/t Ag over 0.46m in hole KE10-17
• 84.5 g/t Au, 22.3 g/t Ag over 0.45m in hole KE10-19
• 34.8 g/t Au, 34.5 g/t Ag over 0.69m in hole KE11-20
The current drill plan also includes testing extensions of the high-grade
gold veins further south on the adjoining Ron Gold Property, which is
under option from Klondike Gold Corp (see news release dated
September 23, 2011). A newly interpreted regional structural splay
located on the west half of the Kenville Gold Mine property has also been
identified as a potential shear system capable of hosting gold veins and
will be drill tested during the current program. Further information about
the Company may be found at http://www.anglo-swiss.com
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Wed Feb 1, 2012
Emgold Announces Successful Results from its 2011 Core Drilling Program Stewart Property, B.C.
Emgold Mining Corporation (EMR: TSX-V) ("Emgold" or the "Company") is pleased to announce that it has completed
the 2011 field exploration program ("2011 Program") for its Stewart Property, located near Salmo, British Columbia. The
focus of the 2011 Program was to further delineate a molybdenum exploration target, the Stewart Moly Zone, which has
been indentified from historic drilling on the property and from subsequent drilling by Emgold.
The 2011 Program consisted of 19 drill holes totaling 2,526 metres. Both high and low grade molybdenum mineralization
was encountered in drilling, as well as other metals including gold. Emgold has also identified the presence of rhenium,
one of the rarest elements in the earth's crust. Rhenium is used as a catalyst in the production of lead-free, high-octane
gasoline. It is also used in alloys for jet engines and in tungsten and molybdenum based alloys. Both gold and rhenium
have potential to be important byproduct metals within the deposit if found in sufficient quantities.
Highlights of the 2011 Program include:
drill hole 11SM06 returned 58.65 metres averaging 0.198% MoS2, with 0.58% MoS2 over 0.9 metres;
drill hole 11SM07 returned 4.92 metres averaging 0.233% MoS2, with 0.98% MoS2 over 0.6 metres;
drill hole 11SM12 returned 9.25 metres averaging 1.94% MoS2;
drill hole 11SM17 returned 1.03 metres of 0.98% MoS2; and
drill hole 11SM18 returned 1.87 metres of 0.56% MoS2.
In addition to molybdenum, gold was also encountered including,
drill hole 11SM01 returned 1.56 meters of 1.15 grams per tonne gold;
drill hole 11SM05 returned 2.50 meters of 1.17 grams per tonne gold and 1.5 meters of 3.93 gram per ton gold;
Drill hole 11SM08 returned 1.34 meters of 1.27 grams per tonne gold;
Drill hole 11SM10 returned 1.82 meters of 1.65 grams per tonne gold;
Drill hole 11SM12 returned 0.21 meters of 7.09 grams per tonne gold; and
Drill hole 11SM14 returned 1.30 meters of 1.65 grams per tonne gold.
Elevated values for rhenium returned from the 2011 core samples were, in most instances, closely related to areas of
elevated molybdenum. Significant rhenium intersections include:
Hole 11SM06 where elevated Re values were returned from 14.02 metres depth down to 191.1 metres in the drill
hole, with up to 1,653 ppb over 1.61 metres; and
Hole 11SM17 returned the highest Re value of 2,204 ppb over 1.03 metres within a string of elevated values from
163.17 to 186.2 metres depth down the hole.
The Stewart Moly Zone is currently interpreted to be a breccia pipe, as previously interpreted from geologic modeling
using MineSight(r) software. It is a mineralized block with variable shape. The mineralization is closely associated with a
breccia structure with apparent length of approximately 200 meters and variable widths up to 80 meters. The true width is
not known. It is exposed at ground surface, and historic drilling indicates depths of 150 meters to date. Potential exists to
expand the mineralized zone in several directions and at depth.
The current density of drilling along the mineralized breccia body will now allow for 3-dimensional modeling to further
assess the resource potential, as well as delineating areas that may indicate further extents to the mineralization. Emgold
is currently focused on completing drill hole compilation and modeling with the objective of ultimately defining an NI 43101 compliant molybdenum resource in the Stewart Moly Zone. Other potential accessory metals such as gold and
rhenium will be modeled as part of this work.
Nickel based super-alloys, for use in jet engines, contain up to 6 percent rhenium, making jet engine construction the
largest use for the element, with chemical industry catalytic uses being the next most important. It is widely used as
filaments for mass spectrographs. Rhenium is also used as an electrical contact material. Because of low availability
relative to demand, rhenium is among the most expensive industrial metals. The average rhenium North American Spot
Metal Price (99.9% Re) on January 1, 2012 was US$4,359.64 per kilogram (source metalprices.com).
Drilling to date indicates the potential to define a resource that may be recovered by open pit and underground mining
extraction. Future exploration at Stewart may consider exploration for other possible breccia pipes in the area, as breccia
pipes can often occur in clusters. Potential also exists for a mineralized porphyry system at depth. Exploration may also
consider gold and silver targets that have been previously identified on the Property.
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Emgold is in the process of completing an Assessment Report for the 2011 Program. Emgold will then develop a plan and
budget for its 2012 exploration program at Stewart. In December 2011, Emgold raised CDN$767,750 of flow through
funds for exploration on its B.C. properties, Stewart and Rozan, in 2012. For further information and more assay results
go to http://www.emgold.com/s/Home.asp
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PROSPECTING COURSE
th
This year’s prospecting course will be held on April 23 – 29 . The course runs Monday through Friday from 7:00
PM to 10:00 PM, a full day on Saturday with the field trip on Sunday.
Registration is on a first come first serve basis. Cost of the course is $250 which includes supplies. Please
register at the chamber, 215 Hall St., Nelson, or call 250-352-5242.
PLANET DRILLS 80 METRES OF SILICIFIED SULFIDE-MINERALIZED ZONE AT GOLDEN
LOON PROJECT, SOUTHERN BRITISH COLUMBIA
Planet Exploration Inc. has intersected more than 80 metres of silicification with sulphide mineralization while testing the
projection of previously reported results at the Golden Loon project near Kamloops, Southern British Columbia. The
mineralized zone continues down dip from visually similar mineralization drilled in late 2011 which returned 30.2 metres of
1.17 grams per tonne gold in drill hole GL-11-006.
Assays have been rushed and follow-up drilling is under way.
Strong silica alteration plus sulphides are present from approximately 30 metres to 115 metres in drill hole GL-12-017.
Drilling is testing a from-surface, shallowly plunging mineralized target within one of the large structurally associated,
silicified and gold-mineralized zones that Planet has drilled for over 700 metres of strike. These zones remain open to
extension beneath an eight-square-kilometre gold-in-soil and bedrock system.
Multiple drill targets have been identified through a combination of soil geochemistry, ground-based geophysics,
geological mapping and prospecting, maps of which are posted to the company's website. Only two of these targets have
been drill tested to date, both with positive results.
"The company is very pleased with the rapidly expanding scope of the from-surface gold-mineralized system now being
drilled at the Golden Loon, and plans to continue aggressive follow-up drilling throughout 2012," said Chris Taylor,
president of Planet.
Andrew Wilkins, PGeo, vice-president exploration of Planet, is the qualified person as defined by National Instrument 43101, who supervised the preparation of the above information. We seek Safe Harbor. more at www.stockwatch.com PXI
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PROVIDENCE/EAGLE PLAINS IDENTIFY 3 HIGH-PRIORITY DRILL TARGETS FROM
2011 AIRBORNE EM GEOPHYSICAL SURVEYS
Providence Resources Corp. and Eagle Plains Resources Ltd. have received results from airborne geophysical field
surveys carried out over their Iron Range joint venture project located near Creston, B.C. In October to November, 2011,
Geotech Ltd. carried out VTEM time-domain EM and ZTEM AFMAG surveys over parts of the Iron Range project. The
results have subsequently been processed and interpreted by Condor Consulting Inc. of Lakewood, Colo.
Highlights:
Four hundred forty line kilometres of airborne geophysical data have been collected over the property area in
2011.
Three high-priority VTEM electromagnetic geophysical anomalies have been delineated in the Row target area,
and are coincident with a five km long arsenic, zinc and lead soil geochemical anomaly.
The ZTEM survey successfully identified the Iron Range fault as well as a northeast-trending fault similar in
orientation to the gold-bearing faults at the Talon zone.
"Geophysical data collected on the Iron Range project has produced three high-priority EM conductors that coincide with
lead, zinc and arsenic geochemical anomalies on the Row target area," stated Providence Resources' president and chief
executive officer Vince Sorace. "The combined results from the geophysical surveys have fine-tuned the Iron Range
geological model and increased our confidence in the Row target area which will be drill tested upon receipt of applicable
permits, which are expected by second quarter, 2012."
Geophysical survey results
VTEM time domain-EM
A total of seven anomalies were defined from the VTEM survey. Anomalies 1 to 3 represent high-priority EM anomalies
and are located within and immediately adjacent to a approximately five-kilometre-long lead-zinc-arsenic soil anomaly
situated in prospective middle Aldridge formation sedimentary rocks. These three anomalies may be an indication of
subsurface Sullivan-style lead-zinc-silver mineralization and will be drill tested in March, 2012. Anomalies 4 to 7 represent
secondary priority targets and are likely related to the subsurface geology. Anomaly 4 is a broad, low-level conductor
associated with a magnetic contact and is interpreted to represent a near-surface bedrock anomaly or conductive
overburden. Anomaly 5 is a formational anomaly defined by coincident EM and magnetic anomalies which correspond to
the location of a sliver of upper Aldridge formation sedimentary rocks. Anomaly 6 is a broad, northeast-trending
conductive zone associated with a linear, northeast-trending magnetic anomaly. Drilling done in this area indicates that
the anomaly is related to graphite within the Aldridge formation sedimentary rocks. Anomaly 7 is interpreted to be an
artifact that is related to a power line that transects this portion of the VTEM survey.
ZTEM AFMAG survey
The ZTEM orientation survey was conducted over the Canyon target (Talon zone) to determine whether this geophysical
method would be capable of mapping bedrock geology based upon the known resistivity and magnetic susceptibility
contrasts within the Aldridge sedimentary rocks. The survey successfully identified the Iron Range fault as well as a
northeast-trending fault similar in orientation to the gold-bearing faults at the Talon zone. In addition, the survey identified
the broad conductive zone also detected by the VTEM survey. This information is useful in better understanding the
subsurface geology of the Iron Range area and how known target areas relate to major rock units and structures.
2012 exploration program
The company intends to execute a full exploration program beginning in March, 2012 (subject to receipt of permits), with
the objective of systematically evaluating all existing exploration data, utilizing newly acquired geophysical data, field
evaluating all resulting anomalies and ultimately drill testing the highest priority targets.
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Geophysical gravity survey -- it is anticipated that results from this work will be available in March, 2012;
Winter drilling (phase I) of high-priority geophysical and geochemical anomalies. High-priority targets have been
identified during the evaluation of historical geochemistry, 2011 soil geochemical surveys and 2011 airborne
geophysical data. Additional targets are anticipated;
Fieldwork will be completed in summer 2012 with the objective of bringing remaining targets to the drill testing
stage for phase II drilling in late 2012.
Qualified persons
Geotech Ltd. VTEM data acquisition phase was carried out under the supervision of Alexander Prikhodko, PhD, PGeo,
Geotech Ltd. Processing and 2-D inversions phases were carried out under the supervision of Alexander Prikhodko, PhD,
PGeo, Geotech Ltd. ZTEM data acquisition phase was carried out under the supervision of Jean Legault, PGeo, PEng,
chief operating officer, Geotech Ltd. The processing and interpretation phase was under the supervision of Jean Legault,
PGeo, PEng, chief geophysicist (interpretation), Geotech Ltd. More at www.stockwatch.com EPL
GRIZZLY MAKES NEW GOLD-SILVER DISCOVERY IN THE MOTHERLODE AREA,
GREENWOOD GOLD PROJECT, BRITISH COLUMBIA
Grizzly Discoveries Inc. has released assay results from its late 2011 exploration drill program at its Greenwood gold
project in British Columbia, including the discovery of a new gold-silver zone in the Motherlode area.
Motherlode gold-silver-zinc discovery -- Greenwood gold project
Results have been received for six holes drilled in the Motherlode area. North of the historic Motherlode mine, drilling of a
coincident magnetic and electromagnetic anomaly has yielded a new gold discovery with the intersection of 1.56 grams
per tonne (g/t) gold (Au) and 11.12 g/t silver (Ag) across 19.0 metres core length with a high-grade zone of 17.15 g/t Au,
41.7 g/t Ag, 0.56 per cent lead (Pb) and 1.51 per cent zinc (Zn) across 1.5 m core length in hole 11ML03 (see attached
table). Drill hole 11ML05, collared 40 m northeast of 11ML03, yielded similar results, with 1.64 g/t Au and 3.15 g/t Ag
across 14.85 m core length with a higher-grade zone of 6.79 g/t Au, 11.1 g/t Ag and 1.04 per cent Zn across 1.5 m. Hole
11ML04, drilled beneath 11ML03, yielded 0.51 g/t Au and 1.02 g/t Ag over 13.5 m core length with a higher-grade zone of
3.43 g/t Au, 2.90 g/t Ag and 0.8 per cent Zn over 1.5 m core length (see attached table).
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The gold-silver-copper-zinc intersections in drill holes 11ML03, 11ML04 and 11ML05 are associated with fine-grained
pyrite, sphalerite and galena in chlorite-biotite altered hornfelsed late Paleozoic to Triassic sedimentary rocks adjacent to
a small alkalic intrusion. Breccia zones and silicification are common in the hornfels zone. Small sections of marble and
skarn with elevated precious and base metals were intersected in all three holes. Further drilling is being planned for the
Motherlode North discovery.
Wide low-grade bulk-tonnage-style gold-silver-polymetallic mineralization has been intersected in the vicinity of the
historic Greyhound open-pit mine, including 0.15 gram per tonne (g/t) gold (Au) and 0.81 g/t silver (Ag) along with 0.02 per
cent copper (Cu) and 0.03 per cent zinc (Zn) over 84.0 m core length, with a higher-grade zone of 0.46 g/t Au and 2.09 g/t
Ag across 11.44 m (see attached table). The precious metal zone with elevated copper (Cu), Pb and Zn in 11ML01, drilled
near the Greyhound open pit, is associated with a strongly silicified, brecciated zone of hornfelsed sediments and calcsilicate skarn with pyrite, pyrrhotite and trace chalcopyrite.
The historic Motherlode underground and open-pit mine produced close to 175,000 ounces of Au, 700,000 ounces of Ag
and 77 million pounds of Cu at an average grade of 1.27 g/t Au, 5.04 g/t Ag and 0.82 per cent Cu from a skarn between
1900 and 1962 (British Columbia Minfile 082ESE034). The new Au-Ag zone has been discovered approximately 900 m
north of the historic Motherlode open pit. For assay results see www.grizzlydiscoveries.com
Dayton gold-copper discovery -- Greenwood gold project
Results have been received for the last four holes drilled (11DA011 to 11DA14) at the Dayton area in 2011, and similar to
the first two holes (11DA09 and 11DA10), they have yielded a wide, bulk-tonnage-style, low-grade Au-Cu zone of
mineralization (see attached table). Drill hole 11DA13 was drilled into the main Dayton induced polarization chargeability
anomaly (IP1) and yielded 0.10 g/t Au and 0.04 per cent Cu over 315.71 m of core length with a higher-grade zone of 0.24
g/t Au and 0.1 per cent Cu over 37.0 m core length (see attached table). Similar to drill hole 11DA09, the low-grade bulktonnage-style mineralization starts at surface immediately below the casing and continues over most of the length of the
drill hole. Drill hole 11DA09 was drilled into IP2 and yielded an intersection grading 0.25 g/t Au and 0.07 per cent Cu over
117 m core length with a higher-grade zone of 0.43 g/t Au and 0.15 per cent Cu over 51.0 m core length at the top of the
hole (see attache table). The Au-Cu mineralization is hosted in mixed basalt and hornfelsed sediments with significant
zones of breccia with feldspar porphyry clasts, discreet felsic intrusions, silicification, and up to 5 per cent pyrite and minor
chalcopyrite. The mineralization was discovered by drill testing coincident anomalous Au in soils and induced polarization
chargeability anomalies. Other than anomalous silver, barium and phosphorous, few other anomalous trace elements are
present. The style of mineralization and alteration is in line with intrusion-related porphyry-style Au-Cu deposits. More
information at www.stockwatch.com
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February 2012
Page 12 of 12
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