Yukon - Northern Dancer PropertiesTungsten-Moybdenum, Yukon

Northern Dancer: One of Largest Undeveloped Tungsten-Molybdenum Deposits in the World

The Northern Dancer deposit is one of the world's largest known tungsten-molybdenum porphyry systems located in south central Yukon with direct access to the Alaskan Highway. 

Key Highlights:

• Located along B.C. Yukon border with access to Alaskan Highway
• Low strip ratio (.4:1) provides low mining costs
• PEA completed in 2011 indicated positive NPV of $918 million at $275 mtu APT (ammonium paratungstate)
  • Current APT price: $430
• Pre-feasibility study underway
• 130.8 million tonnes grading 0.114% WO3 and 0.030% Mo (Measured)
• 192.6 million tonnes grading 0.100% WO3 and 0.029% Mo (Indicated)
• 201.2 million tonnes grading 0.089% WO3 and 0.024% Mo (Inferred)
• Higher-grade zones of 60.3 million tonnes of 0.137% WO3 (Measured & Indicated) and 5.4 million tonnes of 0.134% WO3 and 0.047% Mo (Inferred)
• Continuing discussions with potential off-take partners

Geology:

The mineralization at Northern Dancer is hosted in fractures, veinlets and veins associated with a northeast-trending sheeted vein structure hosted in calc-silicate rocks (skarn and hornfel), diorite intrusion and spatially related to a later felsic intrusion (quartz-feldspar porphyry). The deposit, which has been tested by drilling for 1.2 kilometres along strike, 500 metres vertically and 600 metres in width, remains open along strike to both the northeast and southwest as well as at depth.

At Northern Dancer, tungsten and molybdenum mineralization are concentrated in two zones which partially overlap. In the core of the deposit, there is a higher grade molybdenum zone where molybdenite occurs within and adjacent to the felsic intrusion. Surrounding and partially overlapping the molybdenum zone is a much more extensive tungsten zone where scheelite occurs in northeast-trending sheeted quartz veins structures.
A 2008 drill program of 38 holes totaling 11,500 metres suggested potential for a further upgrade of the indicated and inferred resource.
New intersects are 40% to 300% higher grade than the deposit grade.

Hole LT08-101
Cut 50 metres grading 0.13% WO3 and 0.117% Mo

Hole LT08-108
Cut 432.8 metres grading 0.11% WO3 and 0.046 % Mo including 168 meters grading 0.14% WO3 and 0.052% Mo and 29 meters grading 0.24% WO3 and 0.034% Mo

Hole LT08-109
Cut 276 metres grading 0.11% WO3 and 0.042 Mo including 53 meters grading 0.032% WO3 and 0.053% Mo

Hole LT08-119
Cut 371.50 metres grading 0.15% WO3 and 0.025% Mo.
Including 79.40 metres grading 0.29% WO3 and 0.032% Mo.

Hole LT08-126
Cut 323.09 metres grading 0.13% WO3 and 0.033% Mo.
Including 206.00 metres grading 0.16% WO3 and 0.033% Mo.

Map: