Development Program
2007
- Completed $7 Million, 19,000 meter infill and step out drilling program.
- Assayed/Re-Assayed over 5100 meters of historic core not previously assayed for copper, gold, silver and molybdenum.
- Expanded land package to 5700 contiguous hectares (22 square miles)
2008
- Preliminary Economic Assessment (PEA) completed in March demonstrating positive Project economics.
- Executed $9 Million, 26,000 meter infill and step out mineral, geotechnical and metallurgical drilling program.
- Assayed/Re-Assayed over 12,000 meters of historic core and rejects for Cu, Au, Ag and Mo.
- Permitting, metallurgical, hydrological and geotechnical studies/activities to support Feasibility.
2009
- Completed updated Resource Estimate incorporating results from 2008 drilling program.
- Commenced Project Feasibility.
- Continue collecting baseline data to support Feasibility and Permitting.
- Select geotechnical and in-fill drilling to support Feasibility.
2010
- Refine metallurgical testwork
- Further detailed evaluation of iron deposit
- 50,000 meter drilling program - expanded
2011
- Secured Underground Access Permit by Q1 2011
- Commence permitting Phase 1 - private land U/G mine
- Definitive Feasibility - started Q4 2010
- Commence Advanced Exploration Program
2012 Objectives
- Optimized Feasibility Study
- Definitive Feasibility Study(complete -- January 2012)
- Decision on Land acquisition from Federal Government by the City of Yerington (in progress)
- Updated Resource/Reserve to incorporate plus 50,000 meters of drilling since November 2010 (released September 7, 2012)
- Feasibility Study on Stage 1 Private Land Underground Mine
- Submit project permitting documents to State (Completed August 2012)
- Construction - underground east shaft (started)
- Execute strategic partnership (discussions in progress)
2013 Objectives
- Optimized Feasibility Study
- Receive State development permits for either Private Land Underground Mine "PLUM" and/or Integrated open pit operations
- Complete shaft sinking to total depth
- Execute a mine financing package or strategic investment to allow for mine construction
- Commence mine construction for either the PLUM or Integrated open pit/underground operations
