DRILL HOLES

Drill Hole No. 1: Drilled to a total depth of 432 feet, this drill hole encountered limestones, hornfels and intrusives. A weighted average calculation of anomalous gold values between 19 and 41.6 feet in depth revealed a value of 0.205 ounces gold ton over a length of 22.6 feet. Anomalous gold values in this area seem to favor limestones over hornfels and Granodiorite intrusive even though the granodiorite is the apparent source rock, limestone is obviously the better host rock.

 

The independent Geologist who logged the hole described it as follows: "The hole was collared in colluvium but went into limestone at 18 feet. Below this the rocks changed to a limy shale at 65 feet and continued downhole, becoming metamorphosed into hornfels. At 308.5 feet to 316.4 feet there was a contact zone between the hornfels and intrusive which continued to the bottom of the hole at 432 feet. Gold values were mildly elevated above background throughout the sediments and dropped off sharply in the intrusive. Gold was elevated in the limestone (up to 10 ppm) but went down sharply in the shales and hornfels. The intrusive was barren."

 

Drill Hole No 2: This hole was drilled to a depth of 97 feet before encountering a 10 foot void. Two possibilities exist as to the cause of the void; either the void is part of a stope from the old Black Warrior Mine or it exists naturally as fine-grained material not brought to the surface. Anomalous gold values of .047 ounces gold per ton were encountered from 97 feet to 107 feet in depth.

 

The independent Geologist who logged the hole described it as follows: "This hole was truncated at 117 feet when it encountered a void, presumably a stope in the Black Warrior workings. The hole started in intrusive rich colluvium and went immediately into

slate/hornfels. The assay values were unremarkable until the midpoint and then increased slightly."

 

Drill Hole No,3: Drilled to a total depth of 747 feet, this drill hole encountered intrusives and hornfels at unimpressive parts per million gold values varying between less than 0.005 ppm gold and 0.017 ppm gold.

 

Independent Geologist description: "Collared in intrusive at 368.1 feet to 380.1 feet. Hornfels continued to the bottom of the hole interrupted only by dikes, the largest of which is from 483 feet to 507 feet. The hole was low in gold values."

 

Drill Hole No. 4: This drill hole was drilled to a total depth of 843 feet at a 45° inclination and encountered intrusives and hornfels. Better gold values than drill hole 3 with values ranging to 0.03 ppm gold.

 

Independent Geologist description: "This hole was the most interesting of the array drilled, partially because of the somewhat elevated gold values and in part because of its geometry. The hole was designed to test a zone of breccia detached from the Black Warrior site. Because of permitting restrictions the hole would intercept the target zone at an extremely shallow angle. When logged the hole gave the impression of "wandering" insofar as it started in intrusive, went into hornfels, back into intrusive than completed in hornfels. The lower intrusive/hornfels contact was interesting because it contains an abundance of hornfels xenoliths in intrusive, the presence of dikes and the slightly elevated gold assays."

 

Drill hole No.5,: This vertical hole was drilled to a depth of 458 feet. Alluvium and limestone to a depth of 47 feet, then hornfels to 200 feet followed by intrusive to the bottom of the hole. Anomalous gold values once again showed up in the limestone, 3.93 ppm gold (0.145 ounces gold per ton). Anomalous gold values were present in the hornfels; assays indicate gold values as high as 0.115 ppm. Gold values in the intrusive assayed as high as 0.085 ppm gold.