Sunrise Lake

Sunrise Lake

Highly prospective polymetallic VMS project

Located in the NWT about 130 km northeast of Yellowknife, the Sunrise deposit is a volcanogenic massive sulphide deposit comprising a steeply dipping lens three-to-four meters thick, 120 meters wide and 190 meters long. Underlying the mineralization is lower grade disseminated mineralization up to about 50 meters in thickness. Numerous exploration targets have been identified on the property.

The project comprises six contiguous mining leases totaling 1,621 hectares, with annual lease payments of about $8,000 and no minimum work commitments.

Defined by 21,774 meters of drilling, the deposit hosts a Historic Resource Estimate(1) prepared by SRK Consulting in 2003 as outlined below.

(1) The mineral resource estimate quoted above was prepared by Roscoe Postle Associates Inc. for Silver Standard Resources Inc. in 2003. It is classed as a historic mineral resource estimate. A qualified person has not done sufficient work to classify this historic tonnage estimate as a current mineral resource and the Company is not treating the estimate as a current mineral resource. The historic resource estimate cannot be relied upon. Additional work, including verification drilling / sampling and remodeling, will be required to verify the estimate as a current mineral resource. In addition, the assessment of economic viability would need to be redone using current or foreseeable metals prices, which are higher than those used in the 2003 estimate.

Resources in this historical resource estimate were estimated using a classical polygonal method. Intercepts were composited primarily using a geological cut-off based on the sulphide content and a nominal 30 g/t Ag grade. Internal values below 30 g/t were included for geological continuity if the composite remained above cut-off. The following metals prices were assumed: silver US$5.50 per ounce; gold US$400 per ounce; zinc US$0.45 per pound; lead US$0.25 per pound; and copper US$0.80 per pound.

A portion of the mineral resource at Sunrise Lake is not compliant with NI 43-101 guidelines due to missing QA/QC data and density measurements in the historic data base. QA/AC and density questions could be addressed by twinning a limited number of significant historic mineralized intercepts.



Unit 1 – 15782 Marine Drive
White Rock, British Columbia V4B 1E6

+1 (604) 828-5886


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