Attached files
EXHIBIT 99.2
BLAIR JUNCTION
SUMMARY OF EXPLORATION RESULTS
AND RECOMMENDATIONS FOR
PHASE II FOLLOW-UP
LOCATION & LAND STATUS
The Blair Junction prospect straddles St. Hwy. 95 on the pediment south of the
Monte Cristo Range, approx. 25 west of Tonopah. The area lies on structural
trend with the closed open-pit at the Boss Mine, located 4 miles to the NE.
Low-sulfidation, adularia-rich gold systems occur at the Boss Mine, at Gilbert
10 miles due North, and at the Midway deposit, located 35 miles to the ENE.
The Blair Junction epithermal system lies under portions of Sec.
1,2,3,10,11,12,13,14, & 15, T 2 N, R 38 E, and the western edges of Sec. 6,7, &
18, T 2 N, R 38.2 E. In March, 2008, Timberwolf Minerals staked 12 claims
covering the SE Cor. Sec. 11 and the S portion of Sec. 12, T 2 N, R 38 E. All
surrounding ground is open BLM ground. Approximately two miles to the NE, in
Sec. 4, 2N, 38.5E, is the western edge of a 4-5 mile square claim block
extending northeastward over the Boss Mine, controlled by Seabridge Minerals.
LOGISTICS
WATER - Water for drilling must be obtained from the Tonopah Water System which
is located at a group of springs, located approx. 7-8 miles east of town. Water
for production would need to be from drilled production wells. Ideal geology is
present with 1-2 miles up-slope from the currently defined target.
ELECTRIC - Electric should be available from power lines along State Hwy 95,
approx. 4-5 miles to the south. These same lines were used at the Boss Mine.
LABOR - Labor is plentiful in the Tonopah and Silver Peak areas both located
within 25 miles of the property. Other smaller towns are located north of
Tonopah at Manhattan and Belmont.as well as numerous ranches in the region.
INTRODUCTION - PHASE I
In August, 2008, privately-held Union Summit Minerals of Canada, leased the
Blair Junction property. In September, an additional 40 claims were added and
filed with Esmeralda County. The exploration target and concepts defining a
drill target which are outlined in the following report on the Blair project.
The exploration target was permitted with 10 drill hole locations in October,
2008, and drilling began in early November. The objective was to drill the
project and evaluate results before spending the funds to file the claims with
the BLM. Four holes were completed to depths of 330 ft to 540 ft.. All four
holes intersected fine-grained sands and thick sections of lakebed muds to total
depth. The lakebed muds were weakly pyritic below 300 ft.. No bedrock was
encountered, nor were any quartz boulder-rich lenses.
The drilling was based primarily on the concept that the anomalous
quartz-adularia-gold boulder fragments, nearly identical in nature to those
found over the Midway deposit located NE of Tonopah, had moved upward from
bedrock by the physical process of "selective sorting". Drill results strongly
suggest that the mineralized boulder "train" was not derived from bedrock
immediately below the surface concentration, but was derived from some distance
up-pediment.
Additional reconnaissance mapping completed during the drill program, however,
did confirm that no evidence can be found to suggest that the mineralized
boulders were derived from outcrops in bedrock in the Monte Cristo Mountains to
the north. More specifically, they were not derived from the Gilbert Mineral
Trend where it outcrops in bedrock.
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Union Summit elected not to continue the program beyond the 2008 drilling. The
project does not fit their future agenda. In March, 2009, Timberwolf Minerals,
Ltd., staked a new block of 20 claims up-pediment from the boulder anomaly in
the center of what is now projected as the source of the quartz-adularia-gold
boulders. The new target is discussed below. In October, 09, the claim block was
reduced to 10 central claims.
PHASE I - CONCLUSIONS
The 2008 drilling results lead to the conclusion that the mineralized
quartz-adularia-gold boulders are derived from hidden basin-margin structures
along the southern flank of the Monte Cristo mountain block. Hence, the work to
date has essentially limited the potential source area to a 2.0 mile by 3.0 mile
block of pediment between the float "train" boulder concentration(shown on Fig.
1 as 1.5 mi X 2.0 mi red outline around the permitted drill holes) and the
outcrop edge of the mountain range to the north -- effectively reducing a large
pediment area down to a reasonably-sized exploration target.
EXPLORATION TARGET -- PHASE II
Red dashed lines(Fig. 1) are projected up-pediment from the "exposed" boulder
train anomaly. The boulder train anomaly is bounded to the NE and SW along the
pediment by boulder trains of totally unaltered volcanic rock. Double dashed red
lines also show the projection of the Gilbert Mineral Trend southward from
Gilbert to Ohio Camp(taken from Fig. 2, map from www.goldsummitcorp.com).
Interestingly, the projection of the Gilbert trend intersects the pediment
directly up-slope from the pediment boulder train anomaly.
On Google Earth air photos, the Ohio Camp area(Fig. 2) exhibits a distinct oval
feature that may represent a domal uplift and buried intrusive center. Older
Ordovician(?) sediments with local quartz-adularia-gold veinlets are apparently
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uplifted and breached by erosion. Gold Summit's map indicates +60 drill holes in
the area, with values up to 4.5 m of 6.5 g/t Au. Another interesting feature of
this area is a major WNW-ESE structure that cross-cuts the Gilbert Mineral Trend
at Ohio Camp. Strong to intense alteration is found along that structure where
it intersects the NE projection of the Boss Mine trend, with volcanic knobs at
the edge of the pediment exhibiting strong quartz-adularia veining. The
suggested change in direction of the Gilbert trend in the area of Ohio Camp on
Gold Summit's map(Fig. 2) appears more related to the intersecting WNW-ESE
structure, and erosional patterns. Most of the rock south, southwest and
southeast of Ohio Camp appears to be post-mineral volcanics that extend
southward to the edge of the pediment.
A second WNW-ESE structure, parallel to the Ohio Camp structure is shown as a
hypothetical range front structure to the south, where the Gilbert Trend
intersects the projected boulder train anomaly(Fig. 1). This second structure is
simply inferred as parallel to the Ohio Camp structure, located at the southern
limit of outcrops at the edge of the pediment.
The intersection of the Blair boulder train anomaly with the inferred WNW-ESE
structure, and the intersection of the Gilbert Mineral Trend, roughly defines a
2.0 mile by 3.0 mile block of pediment which could host a Midway-type high-grade
quartz-adularia-gold vein system, or even a Round Mountain-type bulk tonnage
system. The area comprises Sections 34, 35 & 36, T. 3 N., R. 38 E. and Sections
1, 2, & 3, T. 2 N., R. 38 E. MDPM (Fig. 1, Yellow Outline), and may extend
eastward into R. 38.5 E.
RECOMMENDATIONS FOR PHASE II FOLLOW-UP
Consultation with James Wright, geophysicist, who has done most of the
geophysical interpretation for Newmont and Midway Gold at Midway, indicates that
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detailed gravity should be effective in defining the range-front structure
within the yellow target area. This could be followed by several lines of CSAMT
to identify silicified structures.
The geophysics could then be followed up with 4-6 drill holes designed to test
bedrock for alteration and mineralization. At Midway, the high-grade veins are
surrounded by a sea of .01 - .03 opt Au(orange "Silicified Tertiary Volcanics"
unit on X-sec.) Thus the purpose of the first round of drill holes is simply to
establish the existence of an altered and mineralized system. Favorable results
would then dictate a more thorough on-going effort in the area. With
well-orchestrated planning, it is possible to complete this work before making a
decision to spend the funds necessary to file the claims with the BLM.
(POST 2009 NOTE UPDATE - since the start of the Obama Presidency, permit times
have mysteriously increased, and such a quick program turn-around may not be
possible. Local BLM officials assure me this is not the case, but the timing is
suspicious.)
The yellow-outlined area could be quickly and easily tested with the following
estimated budget, exclusive of land costs:
GRAVITY SURVEY - 400m line spacing along pediment,
100m station spacing, 2.0mi X 3.0 mi............ $16-18,000
CSAMT -- 2 lines @ 1.5 km/line(minimum)........................... $8-10,000
Geophysics includes interpretation reports by J. Wright. Figures could
probably be reduced to $10,000 with more selective Gravity line placement, and
similar charges for the CSAMT.
TOTAL GEOPHYSICS $ 25,000
w/Selective Gravity $ 20,000
PERMITTING -- permit for 10 holes.................................. $ 8,000
including permit preparation & bond
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DRILLING -- 5 holes @ 500 ft/hole @ $25/ft........................ $ 63,000
ASSAYING -- 200 ft/hole, 5 ft/sample, 5 holes, 200 samples @
$35/sample............................................. $ 7,000
GEOLOGIST - drilling supervision, reports, etc
20 Days @ $500/D + $125/D expenses..................... $ 12,500
SUPPLIES, WATER, BACKHOE, RECL. .................................. $ 7,600
TOTAL EST. COST OF PROGRAM $118,100
(NOT INCLUDING ADDED COSTS FOR ADDITIONAL CLAIM STAKING AND FILING)
David A. Wolfe
Timberwolf Minerals, Ltd
1314 Linden St.
Canon City, CO 81212
719-275-2529
719-371-4517 cell