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

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EMED Mining - Biely VrchNovember 2010Northing 5379400 5380200 25 32Elevation -70 500 10 57Boundary Conditions and Grade InterpolationDomain boundaries were treated as soft. Samples lying within 20 m of the domain boundary wereused to estimate grades within that domain, in order to allow a gradational effect without overlysmearing grades. Grade interpolation was by ordinary kriging (OK). Estimates using nearestneighbour and inverse power of distance (IPD) were made to validate the OK model. Krigingefficiency, kriging variance, regression slope, and sample numbers used for estimation were recordedin the OK model to assist with resource classification.Specific GravityA total of 458 specific gravity determinations ranged from 2.1 to 2.74 (average 2.44). Snowden usedthe mean density value of 2.44 for estimation of the resource tonnage (See Table 9).Table 10Specific Gravity Value by DomainDomain Number of samples Minimum Maximum MeanLow grade 35 2.24 2.67 2.49High grade 423 2.10 2.74 2.44Argillic 291 2.17 2.74 2.50Intense Argillic 167 2.10 2.67 2.35Oxide 30 2.10 2.59 2.30Transitional 113 2.10 2.65 2.37Primary 315 2.13 2.74 2.49Model ValidationSnowden validated the Biely Vrch mineral resource model using three techniques: Comparing the estimated grades by domain with the declustered input samples withinthe portions of the mineral resource estimate classified as Inferred or Indicated. Thedeclustered input gold grades and estimated block grades compare favourably forboth Indicated and Inferred material with a discrepancy of less than 2%. Comparing resources by domain, alteration and oxidation state. A good correlationwas observed for all the results with the exception of the low-grade domain where themean estimated grade was significantly greater than the declustered mean grade. Thisis likely to be due to the relatively low grade in this domain. A significantimprovement in accuracy is likely to occur with additional drilling at depth. Creating slice validation plots of estimated block grades and declustered input samplegrades by resource category on easting, northing and elevation.Snowden also undertook visual inspection of block and sample composite grades in section, plan, andin three dimensions. No discrepancies were noted during visual validation. Snowden considered thatthe estimated grades were within acceptable limits and Behre Dolbear concurs.<strong>NI</strong> <strong>43</strong>–<strong>101</strong> <strong>Technical</strong> <strong>Report</strong> 29 BEHRE DOLBEARLegal*5650400.1
EMED Mining - Biely VrchNovember 2010Mineral Resource EstimatesThe known mineral resource at Biely Vrch measures approximately 350 m north-south and 300 meast-west and extends from surface to a depth of at least 250 m. Mineralisation within a vertical pipeshapedstructure continues below this depth. The mineral resource estimate was based on: Data from 34 diamond drill holes totalling 10,600 m of drilling;Nominal drill-hole spacing of 100 m by 100 m; andOrdinary Kriging geostatistical resource estimation method based on a proposedSMU size of 25 m East by 25m North by 10 m elevation.As no economic analysis or feasibility study has been made to determine what economic cut-off gradewill be applied to the Biely Vrch project, the tonnes and grades have been estimated using a range ofcut-off values (See Table 10).Table 11Biely Vrch Mineral Resource Estimates at Various Cut-off Values(Source: Snowden, 2010)Cut-off grade Resource Tonnes Grade Contained Aug/t Au Category (Mt) g/t Au(oz)0.2 Indicated 19.2 0.77 477,000Inferred 95.3 0.64 1,975,0000.3 Indicated 17.9 0.81 465,000Inferred 74.4 0.76 1,808,0000.4 Indicated 15.9 0.87 442,000Inferred 58.9 0.86 1,636,0000.5 Indicated 13.9 0.93 413,000Inferred 47.5 0.96 1,472,0000.6 Indicated 11.4 1.01 369,000Inferred 38.9 1.06 1,320,0000.7 Indicated 9.4 1.04 320,000Inferred 32.3 1.14 1,182,000Notes: The most likely cut-off grade for this deposit is not known at this time andmust be confirmed by appropriate economic studies. The project has no minedesign or defined economic parameters. The estimated metal content does not include any consideration of mining,mineral processing, or metallurgical recoveries. Tonnes, grades, and ounces have been rounded and this may have resulted inminor discrepancies. Mineral resources that are not mineral reserves do not have demonstratedeconomic viability. No mineral reserves have been estimated. These estimates have been prepared in accordance with the JORC code. Thereis no material difference between CIM and JORC definitions of mineralresources.<strong>NI</strong> <strong>43</strong>–<strong>101</strong> <strong>Technical</strong> <strong>Report</strong> 30 BEHRE DOLBEARLegal*5650400.1
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Ammended NI 43-101 Technical Report on the Biely ... - EMED Mining

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