The East and West Seel deposits represent two different styles of porphyry mineralization forming a large continuous mineralized zone.   The deposits are located on a gently sloped forest covered area with limited bedrock exposure and typically 0 to 40 meters of glacial cover.  The East Seel deposit is a smaller higher grade zone of mineralization containing Cu-Au mineralization associated with quartz-magnetite veining, and the West Seel deposit is a large zone of Cu-Au-Mo-Ag mineralization associated with quartz-pyrrhotite veining that extends from surface to over 1000 metres depth and remains open for expansion.  The Seel Breccia zone contains structurally controlled zones of higher grade copper-silver mineralization and the Far East zone has only been


Drill Hole Location Map, East and West Seel Deposits

A simplified cross section through the East Seel deposit is shown below with geology illustrated on the left and copper equivalant grades shown on the right.  A zone of high grade mineralization with greater than 0.75% copper equivalant forms the core of the East Seel deposit which is surrounded by larger zones with lower grades.   


Simplified East Seel Cross Section 15 Showing Geology and Copper Equivalent Grades

The geometry of the East and West Seel deposits is illustrated below.  Both deposits extend from surface to considerable depths and West Seel remains open to the south and north.


Geometry of the East and West Seel Deposits

Global resources for all of the different zones at Seel are summarized in the table below, stated at a 0.2% copper equivalent cut off.

Seel Global Resources Divided by Resource Category and Zone


Domain
Class
Cut-off
(CUEQ)
Tonnes
(x1000)
Grade  > Cut-off
Cu (%)
Au (g/t)
Mo (%)
Ag (g/t)
CuEq (%)
East Seel
Measured
0.20
18,360
0.25
0.26
0.004
1.45
0.42
West Seel
Measured
0.20
10,260
0.21
0.15
0.021
3.81
0.40
East Seel
Indicated
0.20
20,190
0.16
0.15
0.009
1.40
0.29
West Seel
Indicated
0.20
78,410
0.20
0.14
0.021
2.82
0.37
East Seel
Inferred
0.20
37,680
0.12
0.10
0.016
0.82
0.24
West Seel
Inferred
0.20
312,170
0.17
0.11
0.019
2.06
0.32
Seel Breccia
Inferred
0.20
1,110
0.42
0.06
0.001
12.59
0.58
Far East zone
Inferred
0.20
650
0.18
0.12
0.004
0.63
0.27

Open pit constrained resource for the entire Seel deposit area (including East and West Seel deposits) are summarized in the tables below.

Open Pit Constrained Measured + Indicated Resources East and West Seel Deposits


Cut-off
(CUEQ)
Tonnes
(x1000)
Grade  > Cut-off
Cu (%)
Au (g/t)
Mo (%)
Ag (g/t)
CuEq (%)
0.10
147,530
0.18
0.14
0.015
2.23
0.33
0.15
135,640
0.19
0.15
0.016
2.35
0.35
0.20
116,340
0.21
0.16
0.017
2.56
0.38
0.25
95,360
0.22
0.18
0.018
2.80
0.41
0.30
73,670
0.25
0.20
0.020
2.99
0.45
0.35
54,940
0.27
0.22
0.022
3.10
0.49
0.40
39,780
0.29
0.25
0.024
3.14
0.54
0.45
28,830
0.31
0.28
0.025
3.16
0.58
0.50
20,790
0.33
0.31
0.027
3.18
0.62

Open Pit Constrained Inferred Resources East and West Seel Deposits


Cut-off
(CUEQ)
Tonnes
(x1000)
Grade  > Cut-off
Cu (%)
Au (g/t)
Mo (%)
Ag (g/t)
CuEq (%)
0.10
257,830
0.17
0.11
0.019
2.11
0.31
0.15
244,350
0.17
0.12
0.019
2.17
0.32
0.20
211,390
0.18
0.12
0.021
2.29
0.34
0.25
169,290
0.20
0.14
0.022
2.42
0.37
0.30
126,680
0.22
0.15
0.025
2.51
0.40
0.35
85,090
0.24
0.17
0.028
2.63
0.44
0.40
51,640
0.26
0.19
0.031
2.80
0.49
0.45
31,080
0.28
0.21
0.033
2.99
0.53
0.50
17,860
0.30
0.24
0.036
3.21
0.58

Seel Pit Constrained Contained Metals At 0.2% Cu Eq. Cut Off

Element
Measured and Indicated
Inferred
Copper
538,620,000 pounds
838,863,000 pounds
Molybdenum
43,603,000 pounds
97,867,000 pounds
Gold
598,500 ounces
816,000 ounces
Silver
9,575,500 ounces
15,564,000 ounces
 
 
 
Cu Eq.
974,646,000 pounds
1,584,520,000 pounds

Mineral resources are not mineral reserves and by definition do not demonstrate economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.  A ‘Measured Mineral Resource’ is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit.   An ‘Indicated Mineral Resource’ is that part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit.  An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified.CuEq = Copper equivalent.   Copper equivalent values were calculated using metal prices of $3.00 lb for Cu, $1300 ounce Au, $22 ounce Ag, and $10 lb for Mo. Recoveries used assume 95% recovery for Cu, 85% recovery for Au, 86% recovery for Ag, and 91.5% recovery for Mo.  The effective date of the resource estimate is January 2014.

Images showing the Seel resource constraining pit are presented below.