Irmin

Hypogene Mineralization

Hypogene copper-molybdenum-gold mineralization occurs mostly as fine-grained disseminated chalcopyrite within dacite porphyry and as disseminated and matrix-fill in phreatic/hydrothermal breccia intruding the dacite. The strongest copper-gold grades occur in the eastern portions of the west-northwest trending breccia, between holes OCA005 and 010. This breccia is continuous for more than 1 kilometre, with a width of at least 200 metres within the concession, and extending for about another 200 metres off the property to the north. The breccia comprises mostly fine diorite (diabase) fragments with dacite fragments increasing toward the contact with the main dacite host rock. A zone of significant gold mineralization (>0.1 g/t) and higher-than-average copper is associated with fine grained diorite and diorite breccia in the central and eastern portions. Outside the areas of significant diorite, where dacite porphyry is the host rock, the gold grades, and in some holes the copper grades, decline sharply, though molybdenum and silver grades are maintained. The highest copper grades are within strong potassic alteration with a weak to moderate quartz-sericite overprint. Examples of typical grades within this zone are OCA004, which intersected 264 metres of 0.36% copper and 0.15 g/t gold, including 39 metres of 0.69% copper and 0.20 g/t gold. Hole OCA005 intersected 111.5 metres of 0.5% Cu and 0.12 g/t gold, or 0.67% Cu Eq. Hole OCA010 intersected the highest-grade primary (hypogene) mineralization yet encountered within the diorite breccia: 300 metres of 0.48% copper and 0.17 g/t gold, or 0.69% CuEq, and including 57 metres of 1.12% copper and 0.21 g/t gold. The hole ended at 300.5 metres within mineralization grading >0.3% copper.

This high-grade mineralization will be drilled out in a future drill programme using a man-portable drill rig capable of being installed on the steep rocky slopes in this area. Mapping indicates the breccia extends for 200 metres east of the high-grade mineralization in hole OCA010. The current known extent of the copper-gold zone is approximately 500 metres east-west by 200 metres north south and truncated by the concession boundary; it is open at depth, but is drill-tested to extend at least 300 metres vertically.

Table 1: Detailed Significant Drill Results from Phase 2 (2012)
Hole From (m) To (m) Interval Cu% Mo (ppm) Au g/t Ag g/t CuEq Zone
OKA-001 2 46 44 0.734 105 0.032 1.3 0.824 oxide supergene
  46 192 146 0.232 97 0.022 1.1 0.308 hypogene
  192 447 255 0.153 98 0.014 0.6 0.217 hypogene
  447 697.8 250.8 0.094 44 0.009 0.4 0.126 hypogene
OKA-002 4 24 20 0.183 742 0.254 3.6 0.776 oxide
  24 38 14 1.290 511 0.057 1.9 1.607 supergene
  38 150 112 0.209 136 0.057 1.5 0.334 hypogene
  150 406.3 256.3 0.154 71 0.015 0.9 0.211 hypogene
OKA-003 2 150 148 0.134 98 0.132 0.6 0.285 hypogene
  150 321 171 0.322 111 0.187 2.2 0.536 hypogene
including 219 270 51 0.424 187 0.206 3.8 0.706 hypogene
  321 403.3 82.3 0.125 145 0.020 0.7 0.219 hypogene
OKA-004 57 356.7 299.7 0.253 70 0.027 1.1 0.318 hypogene
including 300 356.7 56.7 0.368 89 0.030 1.5 0.449 hypogene
OKA-005 63 84 21 0.605 73 0.018 1.4 0.669 supergene
  84 216 132 0.270 72 0.023 1.7 0.340 hypogene
  216 276 60 0.164 42 0.020 1.0 0.210 hypogene
OCADH001 0 27.4 27.4 - - - - - overburden
  27.4 56.3 28.9 0.187 20 0.021 0.6 0.217 mixed
  89 440 351 0.231 83 0.030 1.0 0.304 hypogene
including 89 146 57 0.240 190 0.032 0.8 0.366 hypogene
OCADH002 0 18 18 - - - - - overburden
  87 294 207 0.220 151 0.091 0.9 0.371 hypogene
including 168 195 27 0.291 557 0.083 1.6 0.645 hypogene
and 234 294 60 0.351 102 0.157 1.3 0.530 hypogene
OCADH003 1.3 27 25.7 0.207 79 0.051 1.5 0.299 oxide
  27 78 51 0.491 71 0.049 1.9 0.582 mixed
  78 366.1 288.1 0.226 68 0.026 1.1 0.290 hypogene
including 200 272 72 0.297 95 0.031 1.3 0.380 hypogene
OCADH004 4 37.5 33.5 0.509 121 0.115 1.1 0.665 mixed
including 4 24 20 0.694 124 0.087 1.1 0.831 oxide
  37.5 301.45 263.95 0.360 112 0.153 1.8 0.546 hypogene
including 94 133 39 0.689 160 0.198 2.9 0.943 hypogene
and 184 301.45 117.45 0.400 120 0.149 2.3 0.569 hypogene
OCADH005 7 33.5 26.5 0.626 130 0.104 1.2 0.779 mixed
  33.5 145 111.5 0.501 118 0.121 2.6 0.675 hypogene
including 59 94.8 35.8 0.659 101 0.177 3.3 0.872 hypogene
  145 300.25 155.25 0.199 80 0.020 1.0 0.263 hypogene
OCADH006 11 61 50 0.646 115 0.171 2.7 0.856 mixed
including 26 44 18 1.211 199 0.224 3.6 1.511 mixed
  114 299 185 0.251 67 0.076 0.9 0.349 hypogene
including 114 177 63 0.356 71 0.183 1.0 0.535 hypogene
OCADH007 34 87.6 53.6 0.809 108 0.046 1.9 0.916 mixed
  108 250.05 142.05 0.151 103 0.014 0.7 0.220 hypogene
OCADH008 0 68.65 68.65 - - - - - overburden
  71.5 355 283.5 0.263 62 0.024 1.4 0.326 hypogene
including 163 241 78 0.376 70 0.030 1.9 0.452 hypogene
OCADH009 54 295 241 0.325 97 0.058 1.3 0.428 mostly hypogene
including 54 63.8 9.8 1.438 79 0.054 1.8 1.536 mixed
and 112 295 183 0.317 104 0.060 1.5 0.427 hypogene
OCADH010 0.5 300.5 300 0.483 117 0.168 2.9 0.694 mostly hypogene
including 13.2 29.5 16.3 0.474 86 0.099 2.0 0.609 mixed
and 146.5 176.5 30 1.688 393 0.321 7.8 2.198 hypogene
or 146.5 203.5 57 1.119 418 0.213 5.7 1.542 hypogene
OCADH011 25 250.3 225.3 0.352 182 0.148 1.8 0.569 hypogene
including 25 128 103 0.527 110 0.279 2.3 0.809 hypogene
including 128 250.3 122.3 0.205 243 0.038 1.3 0.367 hypogene
OCADH012 22 69.5 47.5 0.678 61 0.022 1.6 0.741 mixed
  69.5 80.35 10.85 0.325 49 0.019 1.8 0.382 hypogene
OCADH013 32 83 51 0.556 147 0.022 1.4 0.659 mixed
  83 201.1 118.1 0.236 93 0.020 1.2 0.309 hypogene
OCADH014 27 292 265 0.349 141 0.104 2.1 0.517 hypogene
including 27 94 67 0.349 41 0.266 2.2 0.586 diorite hypogene
and 94 292 198 0.349 174 0.049 2.0 0.493 dacite hypogene
OCADH015 88.5 178.85 90.35 0.190 50 0.015 1.6 0.243 hypogene
OCADH016 28 61.55 33.55 0.796 136 0.229 1.8 1.050 mixed
  61.55 86.05 24.5 0.333 106 0.188 1.8 0.333 hypogene
OCADH017 49 57 8 0.441 71 0.024 1.6 0.511 mixed
  57 84 27 0.214 93 0.023 1.6 0.294 hypogene
OCADH018 34.55 50.45 15.9 0.302 62 0.007 1.3 0.352 mixed
  50.45 87.25 36.8 0.218 113 0.027 1.5 0.310 hypogene
OCADH019 47 147 100 0.284 75 0.018 1.2 0.348 mixed
including 47 59 12 0.253 183 0.021 1.8 0.378 mixed
and 97 147 50 0.397 69 0.017 1.1 0.455 mixed
*Copper equivalent calculations represent the total metal value for each metal, multiplied by the conversion factor, summed and expressed in equivalent copper percentage. These results are exploration results only and no allowance is made from recovery losses that may occur should mining eventually result. These equivalent grades should not be interpreted as actual grades since the conversion rations vary with the volatile prices of Cu and Mo and the economic recoveries of Cu and Mo can vary significantly in actual extraction and processing. However, it is the company's opinion that elements considered here have a reasonable potential to be recovered. The three-year, moving-average metal prices used for the purposes of the equivalency calculations are copper $US3/pound, gold $US1500/ounce, molybdenum $US15/pound and silver $US21/ounce.

Table 2: List of Phase 2 Drill Hole Collars
Hole ID East PSAD56 North PSAD56 Elev (m) Azimuth Inclination Depth (m) Date start Date finish
OKA11DH001 713762.2 8267444.83 1786.28 130 -70 697.8 20110720 20110804
OKA11DH002 714090.17 8267367.2 1857.18 120 -70 406.3 20110805 20110812
OKA11DH003 714110.32 8267549.74 1839.04 120 -70 403.3 20110814 20110819
OKA11DH004 713686.18 8267496.43 1762.64 310 -80 356.7 20110820 20110826
OKA11DH005 713447.92 8267574.25 1725.15 235 -70 330.7 20110901 20110908
OCA12DH001 713730.15 8267569.39 1767.39 210 -75 447.05 20121007 20121015
OCA12DH003 713605.93 8267382.62 1793.88 0 -90 366.1 20121014 20121021
OCA12DH002 713944.84 8267583.01 1800.34 210 -70 301.8 20121009 20121013
OCA12DH006 713890.76 8267511.22 1808.85 210 -60 301.1 20121022 20121030
OCA12DH004 714045.03 8267431.96 1838.53 30 -60 301.45 20121017 20121022
OCA12DH005 714044.73 8267431.29 1838.58 210 -60 300.25 20121023 20121028
OCA12DH007 713778.82 8267322.57 1867.56 210 -90 250.05 20121030 20121105
OCA12DH008 713595 8267581.43 1743.28 210 -60 388.25 20121031 20121107
OCA12DH009 713851.98 8267593.08 1784 210 -70 334.35 20121106 20121112
OCA12DH010 714311.18 8267575.27 1950 210 -70 300.5 20121113 20121117
OCA12DH011 714218.87 8267440.2 1912 210 -70 250.3 20121117 20121120
OCA12DH012 713458.9 8267484.13 1742 0 -90 80.35 20121119 20121120
OCA12DH013 713941.63 8267282.06 1912 210 -90 201.1 20121122 20121125
OCA12DH014 714221.8 8267438.31 1912 120 -60 300 20121117 20121126
OCA12DH015 714114.53 8267217.14 1971 0 -90 178.85 20121122 20121130
OCA12DH016 714109.94 8267445.02 1868 0 -90 86.05 20121127 20121128
OCA12DH017 713448.77 8267373.7 1744 0 -90 99.9 20121129 20121202
OCA12DH018 713860.15 8267378.61 1834 0 -90 87.25 20121130 20121202
OCA12DH019 714055.16 8267057.36 1879 30 -80 158.25 20121202 20121206


Map and Cross Sections of Significant Intercepts from Phase 2 Drilling in 2012




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