The drilling program was a huge success and has identified the south terrace of the oldest channel on the Ruby property. This terrace has 16 feet of gravel on one side and at least 50 feet on the other side and is at least 150 feet wide. The north terrace was mined and had profitable gold so there is little reason to think the south side wouldn't be as rich. This channel can be mined within weeks and it is directly over current workings and a 61 foot raise is currently under construction to sample this target.
The Pilot and Mount Vernon Channel targets are projected to lie in the near vicinity of the existing Lawry Shaft workings. Active exploration tunneling (“drifting”) with air-powered slushers and trackless loaders (“LHD's”) is expected to be underway shortly after mining operations begin and the Lawry Shaft section of the mine is fully rehabilitated.
Construction of the 1,500 foot Deep Rock Creek Project access tunnel can also begin once full mining operations commence. This tunnel will be a tracked haulageway. The rate of progress will be determined by the amount of time required to complete the maintenance program in the Ruby tunnel beyond the “Daylight Turn” where the Deep Rock Creek Access Tunnel begins. This maintenance will also be required prior to constructing the Big Bend Bypass Raise to the Black Channel workings. This maintenance work was completed in the third quarter of 2013. Construction of the Big Bend Bypass Raise is currently in progress as of the date of this prospectus. The Company has commenced test mining (bulk sampling) operations in the White Channel section of the Ruby tunnel, which as of the date of this prospectus has been suspended pending further evaluation.
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