+0.06 +2.87% Volume: 2,720,418 March 23, 2018

+0.08 +2.98% Volume: 365,025 March 23, 2018
+16.65 +1.25% Volume: March 23, 2018
-0.03 -0.18% Volume: 76 March 22, 2018
-0.04 -1.2% Volume: 989 March 22, 2018

Buffalo Ankerite

About Buffalo Ankerite

Located in Timmins

The 100% owned Buffalo Ankerite property is situated approximately 3.5 miles southeast of Timmins in northeastern Ontario and is part of the prolific Porcupine Gold Camp. Its 1,200 acres of land are easily accessible by highway and are located within two miles east of Goldcorp’s Dome Mine, where over 17 million ounces of gold have been produced to date. Buffalo Ankerite is adjacent to former producing mines: to the west the Aunor-Delnite Mines, which produced 3.4 million ounces of gold, and to the east the Paymaster Mines, which produced 1.2 million ounces of gold.

Buffalo Ankerite is a historic producer of 1,018,000 ounces of gold at average recovered grade of 6.51 grams per tonne (0.19 ounces per ton). A 4,000-foot deep production shaft on the property was the primary source of this production. Drilling in 2001-2002 by Placer Dome outlined a pit design between surface and 400 feet depth on the south limb of the fold. Historical work indicated additional potential on the property below the pit resource. Latest years of exploration by McEwen Mining identified a high-grade zone of gold mineralization at approximately 4,000 feet depth.

Using a total of 98,522 metres of diamond core data from 311 drill holes, the Company completed in 2013 a resource estimate update on the project. that conforms to the requirements set out in NI 43-101. Computed by 3D digital block modelling, the updated estimate allows for open pit design and optimization.

About Diagram About Diagram bamap

Buffalo Ankerite
Open Pit Resource Estimate

0.51 gpt Au cut-off grade

Zone Tonnes (Mt) Grade (gpt) Gold (oz)
North 1.41 2.05 93,300
South 2.41 2.57 199,500
Total 3.82 2.37 292,800
Zone Tonnes (Mt) Grade (gpt) Gold (oz)
North 0.22 2.24 16,200
South 2.52 2.33 187,100
Total 2.74 2.31 203,400

Note: Numbers may not add due to rounding.

The Buffalo Ankerite resource estimate includes a Whittle Pit optimization model

Buffalo Ankerite

Buffalo Ankerite Underground Resource Estimate (2.57 gpt Au Cut-off Grade)

Zone Tonnes (Mt) Grade (gpt) Gold (oz)
North 1.62 5.10 267,200
South 1.65 4.39 233,000
Total 3.27 4.76 500,200
Zone Tonnes (Mt) Grade (gpt) Gold (oz)
North 0.92 4.18 124,100
South 1.89 4.01 243,000
Total 2.81 4.05 367,100

Note: The Buffalo Ankerite deposit lies on both the Buffalo Ankerite Property and the Paymaster Property. The above resources were calculated using 100% of the resources located on the Buffalo Ankerite Property, which is fully owned, and 60% of the resources located on the Paymaster Property, which is held in joint venture with Goldcorp.