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WOOLSEY REGAL / SNOWFLAKE
SILVER / TUNGSTEN MINES

Woolsey / Stannex / Snowflake

Silver, Copper, Lead, Tin, Tungsten, Zinc

Revelstoke, BC

REGAL MINFILE REPORT

Production Report

Inventory Report

590,703 Tonnes (Unclassified)
Silver 71.6 gpt
Copper 1.1%
Lead 2.66%
Tin 0.13%
Tungsten 0.015%
Zinc 1.26%


After overlaying the maps, it appears that approximately 95% or more of all reserves from both the Regal & Snowflake Mines are located within BC Mining claims including area where the 50-ton mill was located in the mine.
Tenure Number Type Claim Name Good Until Area (ha)
1027295 Mineral 20170529 40.508
1035337 Mineral 20170412 20.2531
1039263 Mineral RS-80-2 20170414 20.2531
1043346 Mineral 20170408 20.2549
1047189 Mineral 20171012 20.2529
Total Area: 121.522 ha



OVERLAY OF CLAIMS OVER KNOWN RESOURCE BLOCKS


SNOWFLAKE MINFILE REPORT

Historical Report on Regal Silver Mine

The Report, written by M. C. Robinson, P.Eng. and J.D. Guild in May 1971, contains a complete positive feasibility review and recommendation of the Regal Silver Mine, including a reserve report, mine plan, processing recommendations and mill plans. The Report, which was prepared using a silver price of $1.75 per troy ounce ("oz") makes a positive recommendation for production, including the establishment of a 500 ton per day concentrator with a 400 ton per day silver, lead and zinc circuit and a 100 ton per day tin, tungsten and copper circuit. Metallurgical recoveries, based upon an extensive metallurgical study conducted by Energy, Mines and Resources in Ottawa and 10 others, which were subsequently reviewed by Bacon Donaldson, Vancouver (1983), are 86% for silver, 90% for lead and 70% for zinc with 64% recovery of tungsten, with the majority of the silver reporting with the lead. 

The Regal Silver Mine has had a long and varied history with small amounts of production up to 1953. The Mine is largely developed with over 22,000 feet (6,707 meters) of horizontal adits, cross-cuts and raises over ten levels in place which cover a vertical distance approximately 1,000 feet (305 meters) from the No 1 level at the 5,555 feet (1,693.6 meter) elevation down to the No. 10 level at 4,555 feet (1,388.7 meter) elevation. Very little work and no known production has taken place since completion of the Report in 1971.

Mineralization within the mine is comprised of galena, sphalerite, pyrite, tetrahedryite, cassiterite, stannite, scheelite and various silver minerals in a quartz-carbonate matrix deposited in fracture zones. These zones are expressed as a series of sub-parallel structurally controlled veins, striking northwesterly and dipping to the northeast at angles varying between 65 near surface, flattening to nearly 25 at 300 meters of depth, which vary in width from 1 foot to 30 feet (0.3 to 9.1 meters), with an average width of nearly 8 feet (2.44 meters).

The Report bases its analysis on the following reported mineralization:

Category*

Tons

Silver
(oz)

Lead
(%)

Zinc
(%)

Tungsten
(WO3)
tons

Tungsten
(WO3)
%

"Probable Ore"*

114,146

3.24

3.32

1.58

9,060

1.09

"Possible Ore"*

323,911

3.15

3.26

1.61

9,700

1.02

 

* These reserve categories pre-date and are non-compliant with National Instrument 43-101 ("NI 43-101"). The Company has not independently verified the above results and considers them to be "Historical Estimates" under NI 43-101 and is not relying on them as current NI 43-101 compliant mineral resources or reserves.

The Report appears to have been prepared in a competent and diligent manner and Company considers it to be reliable, subject to verification and upgrading to current standards. The Company also considers the Report particularly relevant in that, after careful consideration, the Report authors found the project to be economically viable and recommended production at that time. Although the reported reserves will require re-verification, since the mine was never put in to production after the date of the Report, any resource that existed at that time is still in place. Also, although there has been a significant escalation in many costs since the date of the Report, metal prices have also significantly increased, likely even more than relevant costs. The Report based its calculations on a price of $1.75 per oz for silver and $0.145 per pound for lead and zinc. Recent prices have been 6- 10 times that amount (silver: $22.57 per oz; lead: $0.973 per lb.; zinc: $0.86 per lb. - Kitco, Nov 4, 2013). In addition, there have been a number of significant improvements in access, infrastructure and availability of resources and materials in the Revelstoke area subsequent to the date of the Report, which should have a positive impact on overall economic viability.

The Report indicates there is also excellent potential for upgrading or improving mineral resources in and around the Mine. 

Reserve blocks in the Report were calculated mainly by level assays extending, in most cases, a maximum of 25 feet (7.62 meters) above and below the assay level. Since mine level separations average approximately 100 feet (30.48 meters), over 50% of most of the mineralization within the vein structures has not been adequately sampled and has consequently been treated as "Possible Ore" and not "Probable Ore", even though it lies within the vein structure. Additional assay information developed by subsequent drilling should increase the sampling density and provide better definition to the confidence level of the Reserve calculations, which could significantly increase the amount or quality of identified mineral resources. 

The Report notes that, although there are at least 5-6 veins identified in the mine area, only one ("No 5 vein") provided 95% of the reported reserve, with most of the other veins being excluded due to limited exploration or development. None of the veins reported in the Mine have been drilled to depth and all remain open in both strike directions.

Geological mapping executed to date (2013), including the mapping on the veins in the Mine, has been very limited. The Report also notes that are at least 14 other veins exposed at surface for distances of up to 2,400 feet (731.7 meters) which have not yet been fully mapped and have received only limited exploration. All 20+ veins are open at both ends and to depth. The authors conclude that "the presence of additional economic mineral occurrences appears likely". There is currently insufficient exploration to define a mineral resource based on this information, and the quantity and possible grade of any such potential resource should be considered conceptual until delineated by subsequent mapping, sampling and drilling.

In addition to exploration targets in and immediately around the existing mine area, existing data from the mine and the surrounding region supports a geological model that offers a much larger exploration target. 

To view the maps associated with this report, please visit the following links: http://media3.marketwire.com/docs/Northaven-Dec312-Maps.pdf.

Northaven - Amended News Release (Tungsten Resource) JAN 23, 2013

ARIS REPORT 33054 VTEM Geophysical

ARIS REPORT 29868 (See page 14 of 23 for Reserve Estimates by Level / Block)

Snowflake Woolsey Bull Special Report 1928






APPROXIMATE GOOGLE EARTH PLOTTING OF ADITS

MINE WORKINGS & RESOURCE BLOCKS ARE LOCATED AND ACCESSED FROM ADITS 1, 2 3, 4, 5, 10 & 8E. THESE ADITS ARE ALL LOCATED ON THE CLAIMS. ACCORDING TO NORTHHAVEN'S NEWS RELEASES, 95% OF THE REPORTED RESERVES IN THE REGAL MINE ARE BEING CREDITED FROM THE NO. 5 VEIN WHICH IS ACCESSED THROUGH ADITS 1 - 5

CLICK HERE TO VIEW MINE WORKINGS AND DRAWINGS OF RESOURCES BLOCKS


REGAL / SNOWFLAKE PROPERTY FILES
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