Abstracts 2009

January Technical Presentation
Global Energy Mix to 2030 with a Focus on China and the USA
Murray W. Hitzman
Dept. of Geology and Geological Engineering
Colorado School of Mines
Golden, CO 80401 USA

The world economy and infrastructure are based on cheap fossil fuels. World energy demand is rising steadily due to rising population and per capita energy use. Though reserves of conventional and unconventional fossil fuels are sufficient for both power generation and transportation energy usage through 2030, prices will maintain current levels or increase. Unequal geographic distribution of energy resources will push both the USA and China towards increasing coal usage, thus making carbon sequestration an urgent priority to prevent increasing carbon dioxide buildup in the atmosphere.

As the USA and China become more dependent on foreign oil supplies and domestic coal resources, the countries would appear to share the mutual goal of rapidly developing new technologies in areas such as coal gasification, carbon sequestration, and biofuels. Increased governmental support of energy-related research and development in these sectors should provide arenas for possible cooperation in developing a more sustainable energy future.

February Technical Presentation
Geological, technical, and legal aspects of seafloor massive sulfide exploration
Thomas Monecke
Dept. of Geology and Geological Engineering
Colorado School of Mines
Golden, CO 80401 USA

Seafloor massive sulfides, a new class of high-grade base and precious metal deposits, have the potential to be commercially developed in times of high metal prices and a generally favorable economic climate. Over the past decade, significant advances have been made in the delineation of this deposit type and seafloor massive sulfides have been identified worldwide in the deep oceans at water depths typically in excess of 1000 m. These polymetallic sulfide accumulations, formed by hydrothermal venting on the seafloor, occur at mid-ocean ridges, in back-arc basins, and on submarine volcanic arcs.

Detailed seafloor mapping, and in some cases drilling, indicates that a number of occurrences contain 1 to 5 million tons of polymetallic massive sulfides. Several entrepreneurial companies have taken aim at recovering these sulfide accumulations. The onset of widespread commercial seafloor exploration forced governments and the international community to develop regulations for prospecting and potential exploitation of seafloor sulfides in the exclusive economic zones and the area beyond national jurisdiction.

The talk describes the present state of knowledge of the distribution and size of polymetallic sulfide occurrences and the technology employed in the search for these underwater resources. Emphasis is paid on the legal aspects of prospecting and exploration of polymetallic sulfides in international waters, which is under the jurisdiction of the United Nations Law of the Sea Treaty that came into effect in November 1994.

March 2009 Technical Presentation
The Viburnum Trend Revisited 2009
Donald R. Taylor
VP Exploration
The Doe Run Company
PO Box 500
Viburnum, Missouri 65566
Phone: 573-244-8622
Email: dtaylor@doerun.com

The Viburnum Trend remains one of the largest resources of lead and zinc in North America. Located in south central Missouri, the entire district is controlled and operated by The Doe Run Company, which is headquartered in St. Louis, Missouri. Doe Run and its predecessor, St. Joe Minerals, have mined lead and zinc ores continuously in Missouri for more than 145 years.

Doe Run currently operates six underground mines and four mills that annually produce approximately 300,000 tons of lead concentrate; 70,000 tons of zinc concentrate and 25,000 tons of copper concentrate. Approximately 50% of the lead concentrates are processed through a Company-owned primary smelter located in Herculaneum, Missouri. The balance of the lead concentrates, as well as 100% of the zinc and copper concentrates, is sold to foreign smelting interests through metal brokers.

The stratabound mineralization in the Viburnum Trend is a type locality for Mississippi Valley Type ore deposits. The lead/zinc/copper mineralization is hosted by Cambrian-aged Bonnterre Formation carbonates which have undergone extensive recrystallization, brecciation and dolomitization. Host rocks for the deposits are typically back reef, reef and fore reef facies carbonates deposited in a near shore environment. Structure plays an important role throughout the district in localizing mineralization. The lead/zinc/copper mineralization is controlled by a variety of primary depositional features including stratigraphic pinch outs, disconformities, reefs, submarine gravity slides, and solution collapse (karst) features. Faulting is recognized throughout the district and although its role is not fully understood the faulting is observed with both pre- and post mineral displacement.

The major ore minerals are galena (PbS), sphalerite (ZnS) and chalcopyrite (CuFeS2). Minor sulfides include; pyrite (FeS2), bornite (Cu3FeS4), marcasite (FeS2) and siegenite ((Co,Ni)3 S4). Dominant gangue minerals include; dolomite, calcite and quartz. Small amounts of pyro-bitumen or maturated hydrocarbons are common in the mineralized zones.

The lead/zinc/copper ores are stratabound but epigenetic in character. The mineralizing event is believed to have occurred over a long period that began after post-Lower Ordovician faulting occurred and was completed by the Late Carboniferous. The origin of the deposits remains problematic but a favored theory suggests that metalliferous bearing brines were sourced from deep sedimentary basins surrounding the St. Francis Precambrian highlands. As the basins matured the metal bearing brines migrated up dip to the current deposit locations where they encountered lower temperature, sulfur-bearing fluids. The sulfur was likely derived from decaying organic material from the carbonate reefs within the Bonnterre Formation.

Although mining has occurred continuously in the Viburnum Trend district since 1960, exploration continues to make significant contributions to the ore reserves. The application of modern exploration techniques and increased expenditures has improved our understanding of the district. At current mining levels and commodity prices the Viburnum Trend should continue operations for the foreseeable future providing jobs for nearly 1,200 Missourians and 1 Coloradoan.

April 2009 Technical Presentation
The Mt. Hope Porphyry Molybdenum Deposit, Nevada An Update
Thomas W. Bidgood
Associate Professor of Physical Sciences, Colorado Christian University, Lakewood, CO

The Mt. Hope porphyry molybdenum deposit is located at the southern end of the NW trending Battle Mountain-Eureka mineral belt, 21 miles north of Eureka in central Nevada. The Mt. Hope igneous complex is composed of Tertiary (38 ma) rhyolite volcanic-intrusive rocks that intruded and thermally metamorphosed Ordovician Vinini Formation sedimentary rocks. Molybdenum mineralization and alteration is directly related to rhyolite intrusive events and surface and drill hole observations and interpretations describe sheeted vein and stockwork molybdenum mineralization symmetrically (inverted tea cup shape) developed over two separate rhyolite porphyry dome-shaped stocks that intrude host rhyolite quartz porphyry, rhyolite ash flow tuff, and Vinini hornfels. Patterns of high silica and potassic alteration lead outward to argillic alteration on the margins of the Mt. Hope system.

The Mt. Hope deposit is a Climax-type porphyry molybdenum deposit and exhibits the characteristic features commonly applied to that classification that include lithology, mineralization and alteration, and geochemistry. The Mt. Hope lithologies are dominated by high silica porphyritic rhyolite volcanic and sub-volcanic intrusive rocks that exhibit sheeted and stockwork quartz, quartz-pyrite, quartz-pyrite-molybdenite and quartz-molybdenite vein mineralization coincident with dome-shaped intrusive patterns and potassic and silicic alteration patterns characteristic of porphyry molybdenum systems. Trace element and major element distributions mirror those of other Climax-type porphyry molybdenum systems.

General Moly Inc. is currently completing a multi-year pre-development program of permitting, engineering, procuring (equipment), and financing for Mt. Hope. Current BFS stated reserves (proven + probable) are 966 million tons grading 0.068% Mo or 1.3 billion pounds of Mo. Plans call for a 60,000 tpd open pit operation, mill, and roasting facility to produce 40 million pounds molybdenum annually during the first 5 years at an average grade of 0.103% Mo. Mine life is estimated at 44 years 32 years mining and 12 years processing low grade stockpiles. Assuming maintenance of the current permitting schedule and the availability of full project financing, production at Mt. Hope is anticipated in the first half of 2011.

Mt. Hope looking West

May 2009 Technical Presentation

The Rattlesnake Hills Project, Natrona County, Wyoming
Lewis Kleinhans, Senior Geologist, Evolving Gold Corp,
500 Coffman St, Suite 109, Longmont, CO 80501, lew.kleinhans@evolvinggold.com

The Rattlesnake Hills gold prospect is located in Natrona County, Wyoming, approximately 70 kilometers west of the city of Casper. Evolving Gold acquired a 100% undivided interest in the project as a result of an Option Agreement with Golden Predator US Mines Inc. and Bald Mountain Mining Company. Evolving has added to the prospect through staking.

The Rocky Mountain alkaline gold province is host to a series of world class gold deposits including Zortman-Landusky and Golden Sunlight , Montana; Bald Mountain, South Dakota; Ortiz, New Mexico and the great Cripple Creek deposit, Colorado. These deposits are all associated with alkaline volcanic complexes of late Cretaceous and Tertiary age situated in a foreland setting along the east edge of the Rocky Mountains.

The geological setting and style of gold mineralization at Rattlesnake is very similar to the world-class gold deposits at Cripple Creek. Early, low-sulfide, disseminated gold mineralization is hosted by diatreme breccias and surrounding Archean schist, and late, high grade gold-carbonate veins are found along the south wall of the diatreme complex. Like its regional counterparts, mineralization is associated with widespread potassic alteration, typically replacement adularia and lesser biotite.

Limited drilling and surface exploration at Rattlesnake was carried out by American Copper and Nickel Company (ACNC) between 1983 and 1987, and subsequently by Newmont Exploration Ltd. between 1993 and 1995. ACNC completed 32 reverse circulation shallow drill holes targeting banded iron formations which occur peripheral to the much younger breccias bodies. Subsequent drilling by Newmont consisted of 14 holes (including two core holes) targeted the diatreme breccias which border one of the alkali stocks, called the North Stock. Gold grades reported by Newmont ranged up to 148 meters averaging 1.44 grams per metric ton (gpt), with higher grade intervals over narrower widths.

Believing that the Rattlesnake system has been shallowly eroded, and that previous drilling identified only the upper part of the mineralizing system, Evolving Gold undertook a robust drill program of 6,500 m in 15 diamond core holes as deep as 650 m in the summer of 2008. Results from these holes (see table below) demonstrate that the property has the potential to host a very large volume of mineralized rock. At the North Stock target, high grade intercepts include 146.3 m @ 2.92 gpt Au (480 ft @ 0.085 opt Au) in hole RSC-003 and 131.0 m @ 2.84 gpt Au (430 ft @ 0.083 opt Au) in RSC-007. A large halo of lower grade mineralization surrounds this and in open in all directions including the diatreme to the north and the schist to the south. At Antelope Basin, approximately 700 m south of North Stock, a single hole encountered an aggregate composite interval of 173.6 m @ 0.61 gpt Au (570 ft @ 0.020 opt Au).

Phase 2 drilling in 2009 will begin in mid-May and will encompass approximately 15,000 m. Two diamond core rigs will be employed to further delineate the North Stock zone and a third will test additional areas including Antelope Basin, areas between Antelope Basin and North Stock and South Stock. It is anticipated that these results will provide enough data for a scoping study to begin in early 2010. Metallurgical work, including cyanide bottle roll tests and gravity+floatation testing, is presently underway.

Antelope Basin

Hole   From (m) To (m) Interval (m) Initial Assay g/t Gold Metallic Screen Assay g/t Interval (ft) Initial Assay oz/ton Gold Metallic Screen Assay oz/ton Gold
RSC-1 22.9 160.0 137.1 0.38 0.46 450.0 0.011 0.013
169.2 205.7 36.5 1.16 1.48 120.0 0.043 0.043
Aggregate composite 173.6 0.61 0.67 570.0 0.018 0.020

North Stock

Hole From (m) To (m) Interval (m) Initial Assay g/t Gold Metallic Screen Assay g/t Interval (ft) Initial Assay oz/ton Gold Metallic Screen Assay oz/ton Gold
RSC-3 149.3 295.6 146.3 2.48 2.92 480.0 0.072 0.085
342.9 416.1 73.2 0.76 0.90 240.0 0.022 0.026
RSC-4 202.7 228.6 25.9 N/A 0.84 85.0 N/A 0.025
243.8 294.1 50.3 N/A 0.76 165.0 N/A 0.022
251.2 294.1 42.9 0.81 0.83 141.0 0.024 0.024
388.6 403.9 15.3 0.97 0.88 50.0 0.028 0.026
*Aggregate composite 134.4   0.81 441.0   0.024
RSC-5 109.7 163.1 53.4 1.14 1.14 175.0 0.033 0.033
268.5 330.7 62.2 0.64 0.64 204.0 0.019 0.019
370.3 467.9 97.6 0.47 0.47 320.0 0.014 .0.14
486.2 547.1 60.9 0.50 0.48 200 0.015 .0.14
Aggregate composite 274.1 0.65 0.64 899.0 0.019 0.019
RSC-6 59.4 83.8 24.4 N/A 0.78 80.0 N/A 0.023
135.6 219.9 84.3 0.95 1.03 275.4 0.028 0.030
190.5 219.9 29.4 N/A 0.55 96.4 N/A 0.016
274.3 310.9 36.6 N/A 0.71 120.0 N/A 0.021
338.3 417.6 79.3 0.47 0.48 260.0 0.014 0.014
446.5 544.7 98.2 0.92 1.10 322.0 0.027 0.032
*Aggregate composite 352.2 0.84 1154.   0.024
RSC-7 105.2 236.2 131.0 2.74 2.84 430.0 0.080 0.083
236.2 411.5 175.3 0.37 0.61 575.0 0.011 0.018
451.1 467.9 16.8 N/A 0.49 55.0 N/A 0.014
542.5 554.1 11.6 0.90 0.96 38.0 0.026 0.028
*Aggregate composite 203.7   0.62 668.0   0.018
RSC-8 129.5 146.3 16.8 0.32 N/A 55.0 0.009 N/A
239.3 249.9 10.6 0.28 N/A 35.0 0.008 N/A
Aggregate composite 27.4  0.30   90.0 0.009  
RSC-9 18.3 53.3 35.0 N/A 115.0 N/A N/A 0.014
64.5 274.3 179.8 0.54 0.71 590.0 0.019 0.021
402.3 462.7 60.4 0.34 0.29 198.0 0.010 0.008
*Aggregate composite 27532   0.59 903.0   0.017
RSC-11 109.7 23.6 13.9 N/A 0.71 45.0 N/A 0.021
271.3 342.9 71.6 0.33 0.037 235.0 0.010 0.011
Aggregate composite 85.5   0.43 280   0.012
RSC-12 13.7 167.6 153.9 1.09 1.21 505.0 0.032 0.035
176.8 195.6 19.8 0.61 1.04 65.0 0.018 0.030
213.4 257.6 44.2 1.09 1.20 145.0 0.032 0.035
330.7 374.9 44.2 0.33 0.40 145.0 0.010 0.012
382.5 426.7 44.2 0.97 0.98 145.0 0.028 0.029
455.7 490.7 35.0 0.95 0.98 115.0 0.028 0.029
524.3 542.6 18.3 0.36 N/A 60.0 0.011 N/A
Aggregate composite 359.6 0.90 1.01 1180.0 0.026 0.029
RSC-13 19.8 39.6 19.8 0.45 N/A 65.0 0.013 N/A
51.8 76.2 24.4 0.58 N/A 80.0 0.017 N/A
91.4 129.5 38.1 0.40 N/A 125.0 0.012 N/A
237.7 286.5 48.8 0.37 N/A 160.0 0.011 N/A
Aggregate composite 131.1 0.43   430.0 0.013  
RSC-14 7.6 42.7 35.1 0.68 0.71 115.0 0.020 0.021
292.6 304.8 12.2 0.39 N/A 40.0 0.011 N/A
323.1 241.4 18.3 0.31 N/A 60.0 0.009 N/A
428.2 438.9 10.7 0.45 N/A 35.0 0.013 N/A
451.1 459.4 8.3 0.30 N/A 27.0 0.009 N/A
*Aggregate composite 84.6 0.49   162.   0.014
RSC-15 12.2 32.0 19.8 0.32 N/A 65. 0.010 N/A
41.1 89.9 48.8 0.80 0.96      
359.7 373.4 13.7 0.32 N/A 45 0.010 N/A
*Aggregate composite 82.3 0.60   270.0 0.018  

Marine Band regional marker with pyrite, siliceous concretions and deep marine fossils.

Historic Exploration Core (ABL, breccias, ironstones), Tynagh Mine, Ireland.

Base Metal Matrix Mineralization, underground blasting face, Lisheen Mine, Ireland.