Rebirth of the Horne Mine - A Company Maker
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Transcript of Rebirth of the Horne Mine - A Company Maker
TSXV: FPC | WWW.FALCORES.COM | 1TSXV: FPC | WWW.FALCORES.COM
REDISCOVERING THE ROUYN-NORANDA MINING DISTRICT
REBIRTH OF THE HORNE MINE – A COMPANY MAKER
JANUARY 2016
WHERE 11 M OZS OF GOLD & 2.5 BN LBS OF COPPER WERE MINED HISTORICALLY
TSXV: FPC | WWW.FALCORES.COM | 2
Disclaimer
This presentation contains a review of the Company’s properties in Canada. Viewers are cautioned that the projects are at an early stage of exploration and that estimates and projections contained herein are based on limited and incomplete data. More work is required before the mineralization on the projects and their economic aspects can be confidentially modeled. Therefore, the work results and estimates herein may be considered to be generally indicative only of the nature and quality of the projects. No representation or prediction is intended as to the results of future work, nor can there be any promise that the estimates herein will be confirmed by future exploration or analysis, or that the projects will otherwise prove to be economic.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this presentation, which has been prepared by management. There can be no assurance that any of the assumptions in the resource estimates will be supported by a Pre-feasibility or Feasibility Study or that any forward looking event will come to pass. The data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment.
This presentation contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company’s properties. Past performance is no guarantee of future performance and all investors are urged to consult their investment professionals before making an investment decision. Investors are further cautioned that past performance is no guarantee of future performance
Forward-Looking Statements
Certain information included in this presentation constitutes forward-looking statements, including any information as to our projects, plans and future performance. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “believe”, “anticipate”, “will”, “intend”, “estimate”, “forecast”, “budget”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.
Such factors include, but are not limited to: changes to current estimates of mineral reserves and resources; labour availability; litigation; availability of and increased costs associated with contractors and exploration equipment; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; contests over title to properties; uncertainty with the Company’s ability to secure capital to execute its business plans; changes in national and local government legislation in Canada; risk of loss due to sabotage and civil disturbances; risks arising from holding derivative instruments; and business opportunities that may be pursued by the company. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance.
The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Cautionary Note to U.S Investors Concerning Measured, Indicated and Inferred Resources
This presentation uses the terms “measured,” “indicated” and “inferred resources. We advise investors that while those terms are recognized and required by Canadian regulations,the United States Securities and Exchange commission does not recognize them. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility orother economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineralreserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
CAUTIONARY STATEMENT
TSXV: FPC | WWW.FALCORES.COM | 3
2.8 MILLION GOLD EQUIVALENT OUNCES OF INFERRED RESOURCES (43-101)*
ROUYN-NORANDA, QUEBEC
* SEE APRIL 17, 2014 FALCO PRESS RELEASE
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FALCO – A QUALITY CANADIAN GOLD DEVELOPER
INVESTMENT THESIS
ROBUST INITIAL ASSET IN HORNE 5
DESIRABLE & STRONG LAND POSITION IN
THE ABITIBI
EXPLORATION TARGETS TO DRIVE FURTHER
VALUE
GOOD CONSOLIDATION PROSPECTS
LOW POLITICAL RISKFLEXIBLE BALANCE
SHEET
EXPERIENCED MANAGEMENT WITH TECHNICAL EXPERTISE
STRONG SHAREHOLDER
BASE
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FALCO – A QUALITY CANADIAN GOLD DEVELOPER
WHY HORNE 5?
STRATEGIC ASSET: LARGE TONNAGE & SCALE, GOOD LOCATION
STRONG RESOURCE GROWTH & FUTURE UPSIDE
EXISTING INFRASTRUCTURE: SHAFT & OPENINGS FOR TAILINGS
CLEAR PERMITTING PROCESS IN QUEBEC
STRONG COMMUNITY ENGAGEMENT & EXISTING MINING CULTURE
GREAT OPPORTUNITY TO DRIVE INNOVATION & EFFICIENCIES
PROVEN, STRONG & EXPERIENCED MINE BUILDERS
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Capital Structure
Shareholder Registry
Osisko Gold Royalties 16.2%
Goodman & Company 7.5%
Raymond James 6.8%
Quebec Funds 5.7%
Pate Capital 3.7%
US Global 2.5%
Commodity Discovery Fund 1.1%
AgaNola AG 0.5%
Insiders (D&O) 3.8%
Shares Outstanding (basic) 109,983,907
Stock Options 9,910,439
Warrants 3,279,514
Shares Outstanding (fully diluted} 123,173,860
Cash (Sept 30, 2015) + FT Raise C$7.1 Million
CORPORATE SUMMARY – MINDFUL OF SHAREHOLDER DILUTION
A NEW DEVELOPMENT VEHICLE IN THE ABITIBI
Share Price Performance
0
400
800
1,200
1,600
2,000
2,400
2,800
$0.20
$0.25
$0.30
$0.35
$0.40
$0.45
30-Jun-15 31-Aug-15 31-Oct-15 31-Dec-15
VO
LUM
E (IN 0
00
'S)PR
ICE
(C$
)
Closes $3.3mm FT Financing at $0.32
Closes $1.85mm Financing at $0.40
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LOW POLITICAL RISK – NEW MINES WILL BE BUILT IN QUEBEC
QUEBEC’S COMPETITIVE ADVANTAGE
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Larder Lake13 Moz Au
Kirkland Lake24 Moz Au
Timmins71 Moz Au
Rouyn-Noranda19 Moz Au
Malartic14 Moz Au
Bousquet21 Moz Au
Lennox Creek Fault Zone
Porcupine Destor Fault Zone
Cadillac Fault Zone
ONTARIO
QUEBEC
Rouyn-Noranda
Timiskaming Sediments
Cobalt Plate
Felsic Intrusive
Kap High
Mafic/Ultramafic Volcanics
Geology
Val d’Or14 Moz Au
Major gold mining camp
50 current and former gold and base metal mines in the Rouyn-Noranda camp
Rouyn-Noranda camp has produced 19 Moz of gold and 2.9 Blbs of copper, but underexplored for gold
0 25 50 75 100Kilometres
SOUTHERN ABITIBI GREENSTONE BELT
OVER 100 YEARS OF MINING HISTORY
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Initial production
End of Mining(2.5 Blbs Cu & 11.5 Moz Au)
Falco acquires properties(Sep 2012)
Discovery of Horne Mine
Digitization & compilation of Horne historical drill results
(Aug 2013)
NI 43-101 Horne 5 resource estimate
(Mar 2014)
1923 1927 1976 1985 2012 2013 2014
Remnant mining(102,000 oz Au)
HORNE PROJECT
40 YEARS LATER “The year 1923 will long be remembered in Canadian mining lore as the year of the rush to Rouyn”
Leslie Roberts, Noranda
2015 2016
Confirmation Drilling Program at
Horne 5
New resource update and initial preliminary economic assessment
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City of Rouyn-Noranda
Glencore Smelter
Horne Mine
Quemont Mine
Falco Surface Rights
Horne West
Horne project located in an Industrial Park
HORNE PROJECT
LOCATED NORTH OF THE CITY OF ROUYN-NORANDA
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Inferred resource estimate from historic drilling
Open at depth and along strike
Discovery costs of <$0.25/oz Au
1km strike length; 40-120m thick; 1,700m vertical extent
En echelon stacked tabular body; well defined metal zonation (gold, copper, zinc)
Extensively developed (1930s to 1960s)
4,386 drill holes at 15m spacing (305,000m)
40 working levels & 55km of underground development
HORNE PROJECT
2014 MAIDEN RESOURCE ESTIMATE
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ENV_B
ENV_C
ENV_D
Maiden resource of 2.8 Moz AuEq at 3.4 g/t
Opportunity to increase the resource: Conservative NSR & base metal payabilities Silver content not considered Lowering the NSR cut-off
Resource Class
Cut-off (NSR $C)
Tonnes(Millions)
AuEq(g/t)
Au(g/t)
Cu(%)
Zn(%)
Contained AuEq (Moz)
Contained Au (Moz)
Contained Cu (Mlbs)
Contained Zn (Mlbs)
Inferred
>50 67.6 2.48 1.8 0.17 0.72 5.4 4.0 261 1,073
>60 50.4 2.75 2.1 0.19 0.73 4.5 3.3 214 814
>70 35.9 3.07 2.3 0.21 0.72 3.5 2.7 168 573
>80 25.3 3.41 2.6 0.23 0.70 2.8 2.2 131 393
>90 17.9 3.77 3.0 0.26 0.69 2.2 1.7 102 272
>100 12.8 4.17 3.4 0.28 0.67 1.7 1.4 79 190
>110 9.5 4.57 3.7 0.30 0.66 1.4 1.1 63 138
Exchange Rate: CAD/USD = 1.05
HORNE PROJECT
2014 RESOURCE ESTIMATE – UPSIDE OPPORTUNITIES
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17,150m surface drill program 9 holes, 9 wedge holes Metallurgical testing Updated NI 43-101
Primary objectives of confirmation drilling: Upgrade resource category from Inferred to
Indicated Confirm metallurgical parameters (improve
payability) Confirm historic silver grades of >15 g/t
Targeted Results Increase tonnes by >30% Increase AuEq to >3.5 Moz
$3.7M cost;
N S
HORNE PROJECT – COMPLETED IN 2015
CONFIRMATORY DRILL PROGRAM – HORNE 52
30
0m
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HORNE PROJECT
HORNE 5 PRELIMINARY ECONOMIC ASSESMENT TEAM
Integrator & Mill Design Integrator for PEA Document Mill Design Economical Model Revision
Geology & Mining Engineering 43-101 Resource Report Block Model Mine Design Mine Operation Opex & Capex
Mine Infrastructures Headframe and Shaft Design UG Ore Handling Design UG Electricity
Geotechnics, Hydrogeology & TMF Geotechnical Review & Tests Hydro-geology Tailings Management Facilities
Environment & Surface Infrastructures Baseline Study and Environmental
Impact Legislation (MDDELCC & ACCE) Community & Social Impact
Luc Lessard, Eng.
Francois Vezina, Eng., MBA, Mine Development – Director, Osisko Mining Group Former Mine Manager Osisko and Agnico-Eagle; Technical Services Manager for Agnico-Eagle (LaRonde II, Pinos Altos, Kittilä)
Christian Laroche, Eng., Processing & Metallurgy – Director, Osisko Mining Group Metallurgical engineer with 15 years experience in plant design, engineering, feasibility, construction and commissioning
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HORNE PROJECT
HORNE 5 PEA STATUS & DEADLINES
• Resources model – InnovExplo• Mine planning – InnovExplo• Production and development sequence• Opex and Capex cost• Metallurgical process• Surface infrastructures
COMPLETED
• Data collection • Trade-off mine access • Mine infrastructures• Rock mechanics recommendation• Stope design – Golder• Infrastructures
IN PROGRESS
• Economic analysis (Q2)• Report (Q2)EXPECTED
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HORNE PROJECT
$100M+ OF EXISTING INFRASTRUCTURE
Phase 1: Rehabilitation of Quemont shaft, Dewatering to allow underground drilling
Phase 3: Switching from shaft to ramp
Phase 2: Deepening of Quemont shaft to 1.8 km
42% of accessible resources
51% of accessible resources
7% of accessible resources
1.3 km
1.8 km
2 km
Shaft Quémont 2
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COMPARABLE MINE ANALYSIS
SHAFT ALTERNATIVES
LaRonde (60m)
Westwood (85m)
Existing Shaft Dimension → 6.5m x 4.4m Skip → Loading capacity of 31 000 Kg Hoisting capacity → 10 000 tpd Ore + 2000 tpd Waste Production Hoist → Double Drum 21 feets ~8000hp
Horne 5 (86.5m)
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Goldex(Agnico-Eagle)
Young-Davidson(AuRico)
LaRonde(Agnico-Eagle)
Horne 5 **(Falco)
Resource Grade (g/t AuEq) 1.8 2.8 5.1 3.4
Mining Method Long hole Transverse long holeLongitudinal Retreat /
Transverse Open Stoping
Transverse long hole **
Depth (m) 800 - 1,500 750 - 1,500 2,000-3,000 600 - 2,300
Stope Size 15-38 x 30 x 50 20-25 x 20 x 30 5-25 x 15 x 30 38 x 15 x 15 **
Mining Rate 5,100 tpd 8,000 tpd * 7,200 tpd >10,000 tpd **Specific Gravity 2.8 2.69 3.3 3.45
Operating Cost/NSR $41/t * $53.50/t * $95/t Under review
Annual Production (koz) 71,000 * 200,000 * 230,000 * Under review
* Projected life-of-mine (LOM)
** Horne 5 tonnes and grades per 43-101 report; balance is conceptual
Horne 5 $80 NSR Cutoff in Maiden 43-101 Resource Estimate Under Review
Source: Company website and filings
COMPARABLE MINE ANALYSIS
HIGH MARGIN POTENTIAL
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Highly Prospective Land in a Top Jurisdiction
13 former mines on 740 km2 of Falco properties
Over 80 years of data archives
Great land package with several high potential green and brown field prospects
LAND PACKAGE
DOMINANT POSITION IN ESTABLISHED CAMP
Balmoral 700 km
Lake Shore Gold 182 km
Niogold 125 km
Eastmain Resources 125 km
Eagle Hill 124 km
St. Andrews Goldfields 120 km
Integra Gold 30 km
Falco Resources 740+ km
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Background
Previously Untested
Cu-Zn-Au property, located 25km northwest of Rouyn-Noranda
One of the most significant VMS properties in the Camp
Lithogeochemically similar to Horne Complex rocks
Falco identified near-surface conductors related to stratigraphy with the chemical characteristics of Horne Complex
Over 2km of laterally extensive exhalative sequence, akin to VMS systems
Several Zn-rich anomalies
Consistent with lateral placement to VMS mineralization
Distribution Map of High Probability “Horne Type” Samples
Rimo
Horne Complex
RIVIERE MOUILLEUSE (RIMO)
SIMILAR SIGNATURE TO HORNE
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Potential to increase Mineral Resources in the Horne Complex
11 gold targets within the shadow of the old mines
Identified potential Horne West extension at depth
Targeting 3 zones initially
HORNE 5 PLUS PROGRAM
ADDITIONAL TARGETS IN THE HORNE COMPLEX
2015
2016
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Horne West
Au g/t
Horne 5Deposit
HorneMine
Possible Extension
HORNE 5 PLUS PROGRAM
NEAR SURFACE TARGETS – QUEMONT EXTENSIONS
Quemont level plan 200 ±300m 100m
H5-15-08
H5-15-07
2.7 g/t Au, 13.0 g/t Ag, 0.1% Cu, 1.9 % Zn / 55.5m
4.5 g/t Au, 27.1 g/t Ag, 0.3% Cu, 11.9% Zn / 13.15m
(non continuous – stope)
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Horne West
HORNE 5 PLUS PROGRAM
NEAR SURFACE TARGETS – QUEMONT TARGET AREA
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FALCO – A QUALITY CANADIAN GOLD DEVELOPER
VALUE GAP – WHERE DOES HORNE 5 FIT?PRE-PRODUCTION ASSETS OVER 5 M OZS & CAPEX BELOW $1BN
Company Country Asset EV Resources EV / Resources CAPEX
(name) (US$mm) (mmoz Au) (US$/oz) (US$mm)
Pretium Canada Brucejack $743 20.1 $37 $747
TMAC Canada Hope Bay $283 5.9 $48 $175
Sabina Canada Back River $92 7.2 $13 $297
Kaminak Gold Canada Coffee $92 4.9 $19 $317
First Mining Finance Canada Springpole $80 8.1 $10 $438
Victoria Canada Eagle $28 6.4 $4 $411
Canadian Average $220 $22
Asanko Gold Ghana Asanko $321 9.4 $34 $295
Carpathian Gold Romania Rovina Valley $264 9.0 $29 $509
Gold Road Australia Yamarna $156 6.1 $26 $286
Continental Gold Colombia Buritica $123 9.0 $14 $390
True Gold Burkina Faso Karma $64 4.5 $14 $132
Belo Sun Brazil Volta Grande $52 6.9 $8 $298
Amara Cote d'Ivoire Yaoure $37 9.4 $4 $447
Midas Gold USA Stibnite $28 6.5 $4 $970
Lydian Armenia Amulsar $28 5.1 $6 $370
Orezone Gold Burkina Faso Bombore $18 5.1 $3 $250
Exeter Chile Caspiche $11 25.3 $0 $279
ROW Average $100 $13
FALCO RESOURCES CANADA HORNE 5 $16 2.8 $6
Note: Companies with market capitalizations below US$10mm or without a CAPEX figure were not included in the analysisSource: BMO Capital Markets, Company filings, Factset, SNL
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CORPORATE TIMELINE
First Half of 2017
• Full Feasibility Study
•Construction Decision
2016
• Significant Infill Drilling Program
• Initiate dewatering program
2nd
Quarter 2016
• Initial PreliminaryEconomicAssessment
November-December
2015
•Metallurgy Results
•New 43-101 Resource Estimate
Summer & Fall 2015
•5,000 meter program on RIMO
•7,800 meter program on Horne 5 plus
•Metallurgy
•Hydrology
•Geotechnical
•Environment
•Engage with community and all stakeholders
January to October
2015
•17,150 meters Confirmatory Drilling Program
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Sean Roosen, Chairman Chairman & CEO of Osisko Royalties
Mario Caron, Lead Director Mining executive with over 35 years of experience in
the mining industry
Luc Lessard, President & CEO, Director Former COO of Canadian Malartic Partnership Former COO and Senior Vice-President of Engineering
& Construction for Osisko Mining Former VPt of Engineering & Construction for Iamgold Former Executive Director of Engineering &
Construction for Cambior
Helene Cartier, Director Former VP Environment and Sustainable
Development at Osisko Mining Corporation
Jim Davidson, Director Co-Founder of Falco Resources Former CFO of Western Minerals Group
Claude Ferron, Director Former COO of Xstrata Copper Canada
Paul Henri-Girard, Director Former VP of Canadian Operations at Agnico Eagle
Luc Lessard, President & CEO, Director
Vincent Metcalfe, CFO Former mining investment banker
Claude Bernier, Exploration Manager Over 40 years of experience on various exploration projects
Claude Léveillée, Vice-President Community Relations & Human Resources Former Corporate Director, Human Resources/Organizational
Development at Agnico Eagle Mines
SENIOR LEADERSHIP TEAM
Board of Directors Officers
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Head Office
Falco Resources Ltd.
1100, avenue des
Canadiens-de-Montréal
Bureau 300
Montréal, QC H3B 2S2
Tél. : +1.514.905.3162
Toll Free : +1.888.915.2009
Courriel : [email protected]
Investor Inquiries
Vincent Metcalfe, CFO
Tel: +1.514.905.3162
Email: [email protected]
CONTACT US
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APPENDIX
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HORNE PROJECT
CONFIRMATORY DRILL PROGRAM – RESULTS
(0$NSR) 2015 Confirmation Drilling Results (Weighted average)
Hole_ID
From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
Au_Eq_
With
Silver
(g/t)
Au_Eq_
Without
Silver
(g/t)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
Au_Eq_
Without
Silver
(g/t)
2015 vs
2014
%
H5-15-01 1,110 1,141 31.2 2.03 10.16 0.46 0.04 3.00 2.85 2.26 0.30 0.10 2.82 0.9%
H5-15-01-Atw 1,105 1,142 36.7 0.88 4.51 0.27 0.06 1.45 1.38 2.18 0.35 0.12 2.85 (51.5%)
H5-15-02 1,001 1,102 100.9 1.32 29.46 0.11 1.94 2.93 2.48 1.14 0.11 1.19 1.92 29.4%
H5-15-02-Atw 1,002 1,089 87.0 1.43 28.61 0.13 1.47 2.82 2.39 1.25 0.12 1.41 2.16 10.6%
H5-15-03B 1,248 1,365 116.7 0.50 15.51 0.06 1.00 1.34 1.11 0.79 0.06 0.67 1.23 (9.7%)
H5-15-03Dtw 1,255 1,390 134.4 0.55 15.44 0.08 1.10 1.46 1.23 0.82 0.06 0.70 1.28 (3.7%)
H5-15-04 1,302 1,327 25.5 0.73 10.27 0.13 0.71 1.45 1.30 0.81 0.11 1.11 1.55 (16.3%)
H5-15-04-Atw 1,290 1,320 30.3 0.95 11.05 0.14 1.79 2.26 2.09 0.83 0.12 1.13 1.61 30.1%
H5-15-06 1,189 1,243 54.5 1.36 16.16 0.26 0.73 2.43 2.19 1.84 0.29 0.31 2.50 (12.6%)
H5-15-06-Atw 1,189 1,247 57.5 1.72 22.50 0.32 0.99 3.11 2.77 1.89 0.28 0.28 2.51 10.2%
H5-15-05 1,803 1,896 92.6 1.96 16.14 0.12 0.57 2.71 2.47 2.31 16.08 0.13 0.53 2.81 (12.1%)
H5-15-05-Atw 1,800 1,853 53.0 2.49 15.17 0.14 0.70 3.30 3.08 2.16 11.71 0.11 0.40 2.56 20.4%
H5-15-08 1,441 1,550 108.9 2.20 14.16 0.30 0.32 3.10 2.88 1.88 0.24 0.39 2.49 16.0%
H5-15-08W 1,443 1,550 107.1 2.00 13.13 0.27 0.53 2.93 2.73 1.90 0.26 0.28 2.49 9.7%
H5-15-07-A 1,958 1,986 28.0 0.41 17.32 0.10 1.86 1.77 1.51 0.91 0.38 0.13 1.63 (6.8%)
H5-15-07-Btw 1,956 1,986 30.0 0.52 18.21 0.12 1.39 1.70 1.42 0.96 0.35 0.13 1.65 (13.6%)
H5-15-09-A 1,178 1,223 45.1 1.98 32.57 0.25 1.06 3.43 2.94 1.31 0.17 1.10 2.15 36.9%
H5-15-09-Btw 1,177 1,221 43.7 1.38 24.85 0.16 1.06 2.57 2.20 1.22 0.15 1.13 2.05 7.0%
Total 1183.1 1.40 18.12 0.18 0.95 2.45 2.18 1.46 14.49 0.17 0.65 2.09 4.3%
Weighted Average of 2014 Raw Assays
within a 15 m radius cylinder around DDH
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HORNE PROJECT
CONFIRMATORY DRILL PROGRAM – HORNE 5
H5
Long
itudi
nal v
iew
Look
ing
Nor
th1 800m
1 200m
600m
1 800m
1 200m
600m
H5-15-03B, 03Dtw
H5-15-01, 01Atw
H5-15-08, 8Atw
H5-15-02, 02Atw
H5-15-09A, 09Btw
ENV-A
ENV-D
H5-15-06, 06Atw
H5-15-07A,07Btw
H5-15-05, 05Atw (nc)
H5-15-04, 04Atw
1 800m
1 200m
600m
ENV-A
HG-B
HG-D
HG-C
HG-E
ENV-B
ENV-D
H5-15-03B, 03Dtw
H5-15-01, 01Atw
H5-15-08, 8Atw
H5-15-06, 06Atw
H5-15-07A,07Btw
H5-15-05, 05Atw (nc)
H5-15-04, 04Atw
HG-A
H5-15-02, 02Atw
H5-15-09A, 09Btw
30
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1110.4m
Mineralized Zones Hole H5-15-01
HORNE PROJECT
2015 DRILL PROGRAM – HORNE 5