Ammended NI 43-101 Technical Report on the Biely ... - EMED Mining

EMED Mining - Biely VrchNovember 2010Historically, about 120 Moz of silver and 3.5 Moz of gold have been produced in the SlovakRepublic. Of this, about 90% (3.1 Moz) was produced from vein deposits in the Tertiary volcanicrocks in two districts, Banska Stiavnica and Kremnica. The remaining production was from muchsmaller districts within the eastern Tertiary volcanic terrain and from deposits in older, crystallinerocks.The Banska Stiavnica district, located 20 km SW of Zvolen, within the central vent of the BanskaStiavnica volcano, was the most important base-metal and precious-metal mining district associatedwith the Tertiary volcanics in Slovakia. Tertiary rocks within the district include andesite and rhyoliteextrusives and related diorite intrusive rocks. Pre-volcanic rocks are exposed in several large faultblocks, indicating strong resurgence and large-scale post-andesite faulting. The mineralized veins inthe central part of the district strike north to north-northeast and dip to the east. They contain galena,sphalerite, chalcopyrite and other ore minerals in a quartz-carbonate gangue. The veins in theperipheral part of the district contain less base-metal and more gold and silver. Historical productionat Banska Stiavnica was in the order of 66 Moz of silver and 1.6 Moz of gold. The Hodrusa mine,located in the western part of the district, was one of the oldest gold mines in the country.The Kremnica district, located 20 km NW of Zvolen, produced about 6.7 Moz of silver and 1.5 Mozof gold between 1328 and 1970. Production was from epithermal quartz-carbonate veins which trendnorth to north-northeast and dip mainly to the east. Vein thicknesses ranged from less than 1 metre tozones up to 100 metres wide. The veins contain small amounts of pyrite and low values of lead, zincand copper. The low base-metal values and the lower silver to gold ratio distinguish this district fromthe Banska Stiavnica district.8.0 GEOLOGICAL SETTINGEMED’s exploration in Slovakia is focused on the recently recognised bulk, low-grade, gold potentialof the Central Slovakian Tertiary Volcanic Province.8.1 REGIONAL GEOLOGYThe geological structure of Slovakia consists of three crescent-shaped zones that form the CarpathianMountains: (i) the Flysh Belt along the northern margin of the Carpathians, (ii) the central mountainranges of the Carpathian arc, and (iii) several Tertiary volcanic provinces along the southernperiphery of the Carpathians.Northern Flysh BeltThe outer Carpathian Flysh belt consists of several units which were thrust during the Tertiary to forma huge pile of relatively flat, un-rooted nappes, within which, layers of resistant sandstonerhythmically alternate with softer, less resistant siltstones. In general, the topographic relief of theFlysch Belt is one of smooth and rounded hills, with the sandstones forming the peaks and ridges withthe less resistant clays forming the valleys. A narrow Klippen Belt, 600 kilometers in length andvarying from a few hundred metres to a few kilometres wide, extends along the southern edge of theflysch zone and forms the most conspicuous geological feature of the Carpathians. It is a tectonicmelange of oceanic rocks that were folded and fractured along the thrust plane.Central Carpathian MountainsThe central mountain ranges of the West Carpathians comprise an overthrust nappe structure thatforms the highest mountain ranges in Slovakia - the High and the Low Tatra mountains. These arecomposed of Palaeozoic crystalline granitoid rocks and meta-sediments that are overlain by latePalaeozoic and Mesozoic sediments<strong>NI</strong><strong>43</strong> – <strong>101</strong> <strong>Technical</strong> <strong>Report</strong> 16 BEHRE DOLBEARLegal*5650400.1