NI 43-101 Mineral Resource Estimates on the Carolin Mine andNI 43-101 Mineral Resource Estimates
on the Carolin Mine and McMaster Zone
Ladner Gold Project British Columbia
Prepared for
New Carolin Gold Corp.
Report by
Clifford A. Pearson, P.Geo
Independent Qualified Person
Pearson Geological Services
2604 Roseberry Avenue
Victoria, B.C. V8R 3T7
and
W.A. Dzick, MBA, CPG
Snowden Mining Industry Consultants
Suite 600, 1090 West Pender Street
Vancouver, B.C. V6E 2N7
Report Submitted: May 15, 2012
18.0 RECOMMENDATIONS
• Review and collate all available data on record between the historic Emancipation and Pipestem mines, a 6 km strike length. This data will include survey control (expanding on the 2011 McElhanney work, Figure 18.1), topography, geological mapping, geochemical surveys, geophysical surveys, structural (faults and folds) geology and interpretation, surface diamond drill holes, surface trenching; along with the underground data from the Carolin, Emancipation and Pipestem workings.
• Build a computerized property model to reflect the data available and develop a series of geological cross-sections across the 6 km of mineralized trend, at an appropriate scale and section spacing. These modeled sections will highlight specific and general exploration ready targets.
• Continue to surface explore the McMaster Zone, through a dedicated drilling program to: 1. upgrade the Inferred category mineral resources to Indicated and, 2. expand these mineral resources along strike and down dip.
• Reopen the Carolin mine underground workings for rock sampling (chip, channel, stockpile etc) and diamond drilling. This will enable: 1. confirmation of existing resources in and around the areas previously in production, 2. confirmation and expansion of the post production discoveries to the north and west, 3. upgrade of the Inferred mineral resource to the Indicated category as the verifiable database is expanded.
• Recent logging has provided access and the potential for well located surface drilling platforms along the mineralized trend west and north of the Carolin workings (Figure 18.2). Surface drill programs are recommended to test this trend, in conjunction with the underground drilling planned upon reopening of the Carolin mine.
• Confirm the potential for a small starter open pit above the Carolin mine. This work program would consist of surface surveying and sampling, followed by surface diamond drilling to define the extent of mineralization trenched earlier.
• Refocus surface exploration along the 6 km mineral trend between the Emancipation and Pipestem mines, including geological mapping, geochemical and geophysical surveys (surface IP, surface Mag etc) (Figure 6.2). This work will include surface diamond drilling as targets mature.
• Reopen the historic small scale mines for review, sampling and mapping to bring them into the modern database now expected to drive property wide exploration forward.