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  All data posted was accurate at the time of the posting, but may be superseded by subsequent disclosure. Date Updated: Dec. 15, 2009   | |  Blue Moon Resource Estimate (PDF, 2.50 mb)
 Property Description and Mineralization  The Blue Moon property is located 22 miles east of Merced in Mariposa County, California. The property is within the Foothills Massive Sulphide Belt in California and hosted in felsic to mafic volcanic rocks of the Jurassic Gopher Ridge Formation. Mining by Hecla Mining Company during 1943-1945 produced 55,656 tons grading 12.3% zinc, 0.36% copper, 0.48% lead, 3.75 oz/ton silver and 0.062 oz/ton gold. The property was actively explored by Colony Pacific Explorations Ltd.- Westmin Resources Limited and Lac minerals in the 1980s and 1990s.Review, verification and analysis of the historical data has provided a preliminary National Instrument 43-101 compliant resource estimate of the poly metallic massive sulphide deposit at its Blue Moon project. The technical report was coauthored by Moose Mountain Technical Services (MMTS) and Giroux Consultants Ltd.("GCL"). The resource estimate estimated by GCL at Blue Moon has been classified as indicated and inferred. For resource calculations purposes, it has been assumed that the Blue Moon Deposit would likely be mined by underground methods. The results of the resource estimate are as follows:
The cut-off grades used were calculated on the basis of all five metals based on the Gross Recoverable Value ("GRV") assumptions and the range of expected mining, processing and administrative costs based on costs associated with underground mining of known, similar sized deposits. Assumptions used in the calculation of the resources are included under Technical Highlights. Remodelling of the deposit using the digitized data shows the deposit is open both to depth and to the south. Of particular interest is an 800 foot long coincident gold, zinc and copper anomaly covering the exhalite horizon south of the mineralized bodies which is untested by drilling. The anomaly is defined by values greater than 50 ppb gold, 256 ppm zinc and 100 ppm copper. This geochemical anomaly is also a coincident induced polarization chargeability anomaly as defined by greater than 15 milliseconds. The potential to expand the current resources is considered excellent. Technical Highlights A total of 82 drill holes were used totalling a combined 111,250 ft. with 1,540 assays. All supplied units were Imperial and these units were used in the resource calculation. Samples were assayed for Cu, Pb and Zn in percent and Au and Ag in ounces per ton. Erratic high assays were capped at reasonable levels based on the grade distributions for each mineralized domain. Uniform down-hole composites 10 ft. in length were produced that honoured the boundaries of the mineralized solids and waste. Small intervals at the solid boundaries were combined with the adjoining sample if less than 5 ft. to produce a uniform support of 10 ± 5 ft. Long intervals of un-assayed core were added to waste and assigned 0.001 in the Composite process. A total of 297 specific gravity determinations were available for the Blue Moon Project. Specific gravities were converted to the Imperial tonnage conversion factor by the following equation: A three dimensional block model with blocks 20 x 20 x 20 ft. in dimension was created to encompass the geologic solids. Each block was coded with the percentage of the block below topography. Each block was also coded with the mineralized zone code and the percentage of the block within that mineralized solid. As the Blue Moon is a multi-variable deposit with all variables contributing to the economic value a method of combining the grades into one variable was required. A gross recoverable value "GRV" was chosen making use of reasonable metal prices and estimated recoveries. The parameters used were as follows: Zinc - $0.75/pound 95% Recovery Copper - $2.00/pound 93% Recovery Lead - $0.78/pound 95% Recovery Silver - $8.50/oz 65% Recovery Gold - $600 /oz 70% Recovery The equation to calculate GRV was as follows: Recoveries used in the calculation are based on metallurgical testing of drill core undertaken by Lakefield Research on behalf of Westmin Resources Limited on samples of mineralization. Based on the geometry and depth of the mineralized veins in the deposit, underground mining methods would be employed to extract the resource - likely shrinkage or sublevel stoping. If ground conditions are weak, then a cut--and-fill mining method may be necessary. The estimated costs for mining, processing and other onsite costs are estimated to be US$85 per ton based on costs at similar sized operations as envisioned at the Blue Moon deposit. In early 2008, Savant will seek a partner for the Blue Moon project with US underground mining and permitting experience with capability to move the project forward into the scoping study and feasibility study stages. The Blue Moon property consists of 520 acres of patented and unpatented mineral claims and mineral rights on Spanish Land Grant lands. Savant holds 100% interest in the Blue Moon property subject to two 1% NSR royalties on the Red Cloud 1 to 8 claims, both capped at $700,000, a 10% NPI on the entire property held by Colony Pacific and a 0.5% NSR capped at $500,000 held by Boliden Westmin (Canada). The resource estimate reported was produced by Gary Giroux, P.Eng. MASc and Robert J. Morris, MSc.PGeo. who are Qualified Persons as defined by NI-43-101 and are responsible for the technical material related to the resource calculation. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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