ADAMS PLATEAU

Gravity survey was successful in confirming the presence of a well-defined gravity anomaly downdip from the AXL zone at a modelled depth of approximately 110 metres. During limited prospecting in the northern portion of the property, a known showing of sedimentary hosted volcanogenic massive sulphide (VMS)-style mineralization was sampled. A grab sample from this showing assayed 1.93 grams per tonne (g/t) gold, 622.0 g/t silver, 13.3 per cent lead and 5.3 per cent zinc. Historic exploration in the immediate area surrounding the Adams Plateau property has been successful in identifying pods of VMS mineralization with high precious metal contents.

Commenced exploration. The program consist of a gravity survey, covering an area of about seven sqkm. In 1992, at the A2 Zone 12 holes were drilled to test a chargeability anaomaly identified by an IP survey. A mineralized rhyolite tuff unit was identified by drilling. It extended for over one kilometer in strike length, averages 17 m in width and has an average metal content of 498 ppm copper, 663 ppm lead, 1,646 ppm zinc. Betweeen 1981 and 1987, trenching, sampling, geophysical surveys and diamond drilling was carried out in the Adams Plateau area. The work was designed to evaluate three main areas of mineralization termed the Lucky Coon, AXL, and AXL-1 areas. The A2 Zone on the AXL area was recognized as an area of further interest. Exploration has been carried out in the area since 1927. In 1977, the Elsie-Coon prospect was mined via small open pits. Approximately 1,360 tonnes of massive sulphide was mined grading 0.5 g/t gold, 194 g/t silver, 10.3% lead, 3.8% zinc, 0.3% cadmium.