The Willa Claims include the southeast extension of the Willa Mine, an advanced-stage gold-copper-silver deposit located in
the Slocan Valley near the village of Silverton in southeastern British Columbia. Over $16 million dollars (CDN) has been
spent by various operators over the past 20 years to develop the Willa Mine to its present status, which includes an extensive
underground network of workings to access the mineralization. Any additional development to extend the mine along trend to
the southeast is expected to also go through the North Bay claim area.
A feasibility study completed in August 2005 documents the Willa’s total mineral resource estimate within the measured,
indicated, and inferred categories, as specified by National Instrument 43-101 and based on a 1.5-gram gold per tonne cutoff,
as 3,989,494 tonnes grading 3.23 grams gold, 7.16 grams silver, and 0.53% copper. This equates to a known resource of 414,343
ounces of gold, 918,482 ounces of silver, and 46,602,077 pounds of copper. These estimates are based upon a database
including data from 556 core holes totaling 50,890 metres, 2,570 metres of underground workings and 17,150 laboratory analyses
for gold, silver, and copper.
The raw data used for the 43-101 resource estimate was compiled in a March 2003 report that shows cutoff
grades scenarios of 3.5, 2.5, and 1.5 grams gold per tonne, as follows:
Cutoff - 3.5 g/t gold
Category Tonnes Gold (g/t) Copper (%) Silver (g/t)
----------------------------------------------------------------------------
Measured 487,989 6.77 0.97 11.59
Indicated 292,457 5.31 0.65 11.94
Inferred 216,177 6.55 0.57 7.32
Total 996,623 6.30 0.79 10.77
Cutoff - 2.5 g/t gold
Category Tonnes Gold (g/t) Copper (%) Silver (g/t)
----------------------------------------------------------------------------
Measured 792,744 5.30 0.83 9.95
Indicated 590,765 4.11 0.62 9.79
Inferred 447,157 4.71 0.49 7.14
Total 1,830,666 4.77 0.68 9.21
Cutoff - 1.5 g/t gold
Category Tonnes Gold (g/t) Copper (%) Silver (g/t)
----------------------------------------------------------------------------
Measured 1,364,879 3.89 0.68 8.80
Indicated 1,316,763 2.91 0.51 7.05
Inferred 1,307,852 2.86 0.39 5.56
Total 3,989,494 3.23 0.53 7.16
Source: