A Report on the property, in compliance with the requirements of National Instrument 43-101, dated
SUMMARY
"The Windflower Project owned by Cayenne Gold Mines Ltd. consists of 14 contiguous Crown Granted Mineral Claims located in the Kootenay District of
The gold bearing quartz vein systems, the target of exploration on the property, appear to be structurally related to major shear zones, which strike northwesterly across the property. Quartz veining varies from a few centimeters to 6 meters in width. The quartz veins appear to be associated with the regional fault structures. The quartz veins carry siderite, pyrite and associated gold mineralization. The quartz veins appear almost as stockworks in some areas.
In 1903/04 production from the Goldfinch claim was 1,316 tonnes grading 15.9 grams gold/tonne and 4.3 grams silver/tonne. From 1985 to 1990. Granges Exploration Ltd. performed an extensive exploration program. Work consisted of geochemical, magnetometer and electromagnetic surveys, 209 surface & underground diamond drill holes, and 1206 meters of underground development.
The Dorothy (Main) and Dorothy North Zone have a Measured Mineral Resource of 142,600 tonnes at 6.2 grams/tonne gold. The East Zone has an Indicated Mineral Resource of 46,400 tonnes at a grade of 12.8 grams/tonne gold. The ore zones are steeply dipping and have a good mining width averaging over 3 meters.
Very little underground development is required to start mining the Dorothy (Main) Zone. The East Zones and Dorothy North Zone are in close proximity to the existing underground workings. With the additional 10 surface diamond drill holes drilled in the Dorothy North Zone in 1989/90, the Dorothy North Zone now has 6 ore grade drill intersections with good widths. The 1989/90 drilling was done after the Measured Mineral Resources were calculated. This drilling will add to the existing Measured Mineral Resources. Also, the Dorothy North Zone is still open at depth to the North.
The West, Goldfinch, and Menhinick Creek Zones are also good exploration targets that could add to the mineral resources. There is also a good chance of additional vein and possible stockwork exploration targets being found on the Windflower Project.
Gold recoveries greater than 90% can be expected using cyanidation or cyanidation of a bulk flotation concentrate.
With the carbonate minerals present the risk of acid mine drainage is low. Water samples analyzed from the historic workings and decline were in the pH range of 7.2 to 7.5. Existing reclamation work required on the Windflower Project is minimal. Road access to the Windflower property is good. Proximity to the nearest population center is only 1 1/2 hours by road.
With the current price of gold at
The Phase 1 work program in the qualified person's opinions will cost approximately
On the expectation of positive results from Phase 1, Phase 2 would include an advanced exploration program to expand the mineral resources and the mining of a test stope to confirm grade and mining conditions.
While the Report refers to the price of gold as
It appears as though the Windflower property has great potential for realization of increased mineralization which has yet to be tapped.
Negotiations are being held to obtain financing for this project.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE Bryn Resources