The acquisition of the 25 hectare claim gives the company a complete block on the north half of the Rocher DeBoule stock which contains the center of the large magnetometer high identified by Airborne Magnetic Surveys performed in 1967 and 1969. (Geophysics Paper 5245 Geological Survey of Canada).
The claim contains most of the # 2 and 2A vein systems where past production produced 6.2 million pounds of copper, 4,492 ounces of gold and 84,477 ounces of silver from 52,719 tonnes (see press release dated January 7, 2002).
Diamond drilling and underground sampling performed by Southern Gold Resources Corporation as reported by Stephen P. Quinn Mining Geologist in a summary report dated June, 1989 resulted in a *historical resource of 55,000 tonnes averaging 2.69% Co, 6.05 oz / tonne silver
and 0.102 ounces / tonne gold (pg. 43 of summary report). *Regarding the historical resource, the company has not been able to obtain enough of the original data and has not done the work necessary to verify the classification of the resource. The company is not treating as a NI 43-10 defined resource verified by a QP, and the historical estimate should not be relied upon.
Fourteen diamond drill holes were drilled from underground in 1987 by Southern Gold Resources Ltd. on the #2 vein as follows:
|Hole Number||Width (ft)||Width (m)||Cu %||Ag (OPT)||Au (OPT)|
Holes 2, 5, 6 and 11 intersected a quartz – hornblende vein structure with associated shearing, but contained no significant values. Hole #14 hit an old stope.
This release was reviewed for technical accuracy by Dick Addison, P.Eng. a qualified person as defined by NI 43-101.
The agreement to purchase the above claim is subject to regulatory approval.
ROCHER DEBOULE MINERALS CORP
Per: “Larry W. Reaugh”
Director, President & CEO