The Long Canyon deposit: exploration success in new territory

The Long Canyon Deposit is a newly discovered sediment-hosted gold discovery
located in northeastern Nevada, over 150 km east of the well-explored Carlin Trend.
The deposit is hosted in a sequence of Cambro-Ordovician carbonate rocks that accumulated
in a periodically emergent, platform to shelf-edge environment. The rocks
were deformed during a mid-Mesozoic orogenic event that dismembered a brittle,
100-m-thick dolomite layer into a series of elongate, northeast-trending boudin blocks
within more ductile, enclosing limestone. This structural architecture focused meteoric
waters, such that karst cavities and solution-collapse breccias formed along
boudin margins and necks. These zones subsequently formed pathways and traps for
mineralizing fluids. Alteration types include hematite, limonite, scorodite, silica and
dolomite. As currently defined by drilling, the Long Canyon deposit is approximately
1800mlong in a northeast direction and 400mwide, and consists of several sub-parallel
zones of mineralization focused on boudin block margins and boudin necks. As of
March, 2009, the deposit contained a NI 43-101 compliant indicated resource of 4.8
million tonnes at an average grade of 2.35 g/t gold (363,000 ounces) and an inferred resource
of 8.8 million tonnes at an average grade of 1.63 g/t gold (459,000 ouncesAu, using
a 0.3 g/t Au cut-off grade). It is open down plunge to the northeast, and is open to
discovery of flanking, parallel zones of mineralization to the northwest and southeast.