2005-2008 Exploration Programs

Program completed to date consist of detailed geological mapping extensive sampling of the surface showings and underground workings, 25,252 feet of diamond drilling in 21 holes and 5150 feet of air rotary drilling.

Surface and Underground Sampling

Over 400 horizontal 5 to 6 foot horizontal and vertical chips samples were taken form surface pits and accessible underground workings.

Significant Intersections on surface include:

pit

from

to

length

length

Cu Equiv.

Cu

Au

Ag

Gallium

Indium

 

feet

feet

feet

meters

 

%

gms/T

Gms/T

ppm

ppm

pt-1

0

44

44

13.41

0.99

0.84

0.02

0.98

18.42

0.21

pt-2

0

24

24

7.32

1.42

1.31

0.00

0.58

16.86

0.10

pt-4

0

32

32

9.75

1.64

1.52

0.01

0.41

16.70

1.37

pt-6

0

92

92

28.04

1.33

0.98

0.24

4.40

17.65

0.91

pt-9

0

62

62

18.90

0.82

0.71

0.03

0.57

13.05

0.10

east

0

9

9

2.74

7.90

7.80

0.01

0.34

14.20

1.54

Note: Molybdenum Veins do not reach the surface in any of the pits

Significant Intersections from underground include:

***********************************************************************************

Adit#2

Copper zone : 144 feet (43.9 meters) grading 0.90% Cu Equiv, 0.35% Cu, 0.019% MoS2, 0.033 ppm Re, 0.06 gms Au/T, 5.75 gms Ag/T

Moly zone : 165.5 feet (50.4 meters) grading 0.72% Cu Equiv, 0.10% Cu, 0.016% MoS2*, 0.220 ppm Re, 0.06 gms Au/T, 1.79 gms Ag/T

* MoS2 grade too low for Rhenium content oxidation appears to have caused loss of Molybdenum.

Pebbles Adit

Main zone: 147.6 feet (45 meters) grading 0.51% Cu Equiv, 0.25% Cu, 0.00% MoS2, 0 ppm Re, 0.031 gms Au/T, 2.63 gms Ag/T

Cross Cut #1: 134.4 feet (41 meters) grading 0.60% Cu Equiv, 0.33% Cu, 0.007% MoS2, 0.01 ppm Re, 0.027 gms Au/T, 1.62 gms Ag/T

Cross Cut #2: 36 feet (11 meters) grading 1.32% Cu Equiv, 1.02% Cu, 0.006% MoS2, 0.010 ppm Re, 0.022 gms Au/T, 1.98 gms Ag/T

Inclined Shaft:

102 feet (31.1 meters) grading 0.84% Cu Equiv, 0.63% Cu, 0.001% MoS2, 0.004 ppm Re, 0.047 gms Au/T, 1.1 gms Ag/T

East Adit :

35 feet (10.7 meters) grading 0.55% Cu Equiv, 0.632% Cu, 0.001% MoS2, 0.004 ppm Re, 0.014 gms Au/T, 10.31 gms Ag/T

Bettles Mine

6 feet (1.8 meters) grading 0.02% Cu, 4.67 gms Au/T, 492 Gms Ag/T, 3.92% Pb, 0.2% Zn

Lower Adit :

32 feet (9.8 meters) grading 0.91% Cu Equiv, 0.57% Cu, 0.001% MoS2, 0.004 ppm Re, 0.069 gms Au/T, 10.37 gms Ag/T


Typical 6 foot Channel sample

Taking 6 foot Channel sample

Drill Hole Location Plan

Sections

Drilling

A total of 25,252 feet of diamond drilling in 21 holes has been completed on the property. In addition , air rotary drilling was used to pre-drill the upper 300 to 500 feet of each of the holes to help reduce drilling costs. The upper section is barren cap rock, which has been confirmed by assays of the air rotary chips.

Mineralization starts with copper rick skarn with no molybdenum changing to mixed as the molybdenum part of the system overprints the older skarn. The grade and thickness of the molybdenum part of the system increases toward the north and is still wide open. Northern most hole to date hole PT07-12 returned 335.9 meters (1102.0 feet) grading 1.14% Cu Eq. (0.101% MoS2 eq., 1.81 lbs MoO3/T)

Finally, precious metal rich intersections have been encountered. Both silver and occasional >1 gm Au/ton. For example: Hole PT08-19 intersected 10.4 meters (34 feet) grading 10.69% Cu Eq (0.834% Cu, 1252.2 gms Ag/tonne (36.5 oz/ton), and 0.33% W) . which are part of the youngest event.

Significant Intersections from The Drilling.

Hole

From

To

Length

MoS2

Cu

Ag

Ga

Cu

Name

feet

feet

feet

%

%

Gms/T

ppm

Equiv.

PT05-01

46.0

445.5

399.5

0.021

0.17

2.96

22.60

0.56

PT05-02

36.5

630.0

593.5

0.016

0.17

2.86

17.87

0.44

PT05-03

329.0

712.5

383.5

0.029

0.11

2.25

16.53

0.48

PT06-04

308.0

1205.0

897.0

0.049

0.08

2.07

18.10

0.63

PT06-06

10.0

670.0

660.0

0.030

0.09

2.07

17.60

0.47

PT06-07

462.0

1475.5

1013.5

0.042

0.09

1.61

18.50

0.57

PT06-08

269.0

533.0

264.0

0.019

0.06

1.43

16.65

0.33

PT06-09

276.0

782.5

506.5

0.036

0.08

1.81

16.30

0.52

PT06-10

273.0

1350.0

1077.0

0.034

0.07

1.27

17.22

0.47

PT07-11

741.0

2000.5

1259.5

0.059

0.11

2.04

17.86

0.76

PT07-12

1049.0

2348.0

1299.0

0.062

0.08

0.74

18.58

0.74

PT07-15

450.0

706.0

256.0

0.042

0.02

0.60

12.59

0.46

PT07-15

816.0

1228.0

412.0

0.029

0.14

2.07

18.52

0.51

PT08-17

1044.0

1530.6

486.60

0.10

0.01

0.35

15.57

0.98

PT08-17

1530.6

1966.0

435.4

0.033

0.08

0.52

17.52

0.46

PT08-19

582.0

828.0

246.0

0.003

0.23

175.97

16.93

2.56

PT08-19

776.0

820.0

44.0

0.001

0.68

969.80

13.77

13.03

PT08-20

850.0

899.4

49.4

0.006

0.28

3.38

14.29

0.45

PT08-21

582.0

828.0

246.0

0.003

0.28

2.23

16.28

0.40