Exploration

KENSINGTON

In 2007 the Company continued the exploration program started in the third quarter of 2005, designed to increase the size and continuity of gold mineralization in its inventory and ultimately result in an increase in mineral reserves. This program consisted of over 667 meters (2,189 feet) of surface drilling on the Jualin property and 3,918 meters (12,854 feet) of underground drilling at Kensington . For the year, a total of $0.65 million was spent on this exploration program.

The Kensington ore deposit consists of multiple mesothermal precious metals-bearing quartz, carbonate, pyrite vein swarms and discrete quartz-pyrite veins, hosted in the Cretaceous Jualin diorite. Calaverite, a gold-telluride-mineral, is associated with the pyrite mineralization. 

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