The Table 1 shows the combined resources of the two zones.
-------------------------------------------------- Table 1 -------------------------------------------------- Larder Lake Project Combined Mineral Resources - June 2011 (1) -------------------------------------------------- Location Indicated Inferred -------------------------------------------------- Tonnes Grade Ounces Tonnes Grade Ounces Bear Lake Zone - - - 3,750,000 5.67 683,600 Cheminis Zone 335,000 4.07 43,800 1,391,000 5.22 233,400 TOTAL 335,000 4.07 43,800 5,141,000 5.55 917,000 --------------------------------------------------
(1) Resources are reported using a 2.5 g/t gold cutoff and a minimal horizontal thickness of 2.0 m. The gold price used was US$1,207/oz. Process recovery was 95%. Mining costs were $75/ tonne and Processing and G&A costs were $20/tonne. Exchange rate used was $0.95USD = $1.00 CDN. Mineral resources which are not mineral reserves do not have demonstrated economic viability.
QA/QC
The Company has implemented a rigorous QA/QC program independently set up and supervised by P&E. The program includes chain of custody of samples, drill core sawn in half and shipped in sealed bags to Laboratoire Expert, a certified assay laboratory located in Rouyn Noranda, Quebec. Blank samples, blind duplicates and certified standards are also inserted in the sample stream. Samples with gold values higher than 10g Au/t are systematically re-analysed, and samples containing visible gold are also analysed systematically with the metallic screen analysis.
Qualified Persons
The Bear Lake and Cheminis resource estimates were undertaken by Independent Qualified Persons Antoine Yassa, P.Geo., Eugene Puritch, P.Eng. and Tracy Armstrong, P.Geo, of P&E. Mr. Puritch, President of P&E has reviewed and approved the contents of this press release insofar as the Cheminis and Bear Lake mineral resource estimates are concerned.
P&E has completed a technical report for the mineral resource estimates of the two zones in compliance with NI 43-101 and both reports were filed on Sedar.
The other technical information contained in this press release was prepared and approved by Francois Viens, President and CEO of the Company. Mr. Viens is a 'qualified person' within the meaning of that term under NI 43-101. ----------- Bahnfahrn macht Spaß!!
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