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March, 1989 FAIRFIELD MINERALS LTD. DILL/BANK PROPERTIES. NTS: 92/H-9W, 16W Similkameen Mining Division, British Columbia

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March, 1989 FAIRFIELD MINERALS LTD. DILL/BANK PROPERTIES

862611

D i l l 2 C l a i m s Bank 2 C l a i m s (36 U n i t s ) (32 U n i t s ) NTS: 92/H-9W, 16W S i m i l k a m e e n M i n i n g D i v i s i o n , B r i t i s h C o l u m b i a 1 9 8 9 R E C O M M E N D E D E X P L O R A T I O N P R O G R A M (DURATION: 12 Months: March 1, 1989 t o F e b r u a r y 28, 1990)

S U M M A R Y PERIOD: PROGRAM: ESTIMATED COST: F i e l d : P r e p a r a t i o n : A c q u i s i t i o n : G e o c h e m i s t r y A s s a y s : A c c e s s : T r e n c h i n g : Geology: G e o p h y s i c s : Data C o m p i l a t i o n : $300,000 June 1 t o August 31, 1989 P r o j e c t p l a n n i n g , p e r s o n n e l , c o n t r a c t o r s , base map. D i l l : 136 u n i t s Bank: 168 u n i t s 4,700 g r i d s o i l s 400 t r e n c h p r o f i l e s 800 t r e n c h r o c k c h i p s 120 t r e n c h r o c k c h i p s D i l l : L o g g i n g 0.7 km, r o a d b u i l d i n g and r e c l a m a t i o n D i l l : 1,200 m Map t r e n c h e s , p r o p e r t i e s and p r o s p e c t . D i l l : IP - 5 km ( i n l o g g e d a r e a s ) Bank: VLF-EM + Mag - 20 km.

E v a l u a t i o n o f r e s u l t s F i n a l r e p o r t p r e p a r a t i o n .

D E S C R I P T I O N o f DILL/BANK PROPERTIES: D e t a i l e d on pages 2 and 3. E S T I M A T E D C O S T : D e t a i l e d on pages 4 and 5.

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March, 1989

F a i r f i e l d M i n e r a l s L t d .

-2-DESCRIPTION OF DILL/BANK PROPERTIES S i m i l k a m e e n M i n i n g D i v i s i o n , B r i t i s h C o l u m b i a

DILL GOLD-COPPER PROPERTY

2 C l a i i s ( 3 6 U n i t s ) NTS: 92/H-9W, 16W

The D i l l g o l d - c o p p e r p r o p e r t y i s l o c a t e d 50 km west o f P e a c h l a n d i n s o u t h e r n B.C. The c l a i m s were s t a k e d d u r i n g 1988 t o c o v e r s e v e r a l s m a l l m i n e r a l showings and a f a v o u r a b l e g e o l o g i c a l s e t t i n g f o r g o l d - c o p p e r v e i n / s t o c k w o r k d e p o s i t s .

The c l a i m s a r e u n d e r l a i n by v o l c a n i c and i n t r u s i v e r o c k s o f t h e N i c o l a Group i n t r u d e d by g r a n i t i c dykes from a C o a s t I n t r u s i v e b a t h o l i t h l o c a t e d i m m e d i a t e l y e a s t o f t h e

p r o p e r t y . The v o l c a n i c r o c k s a r e s t r o n g l y f r a c t u r e d w i t h l o c a l zones o f c a r b o n a t e , s i l i c a o r c l a y a l t e r a t i o n .

S u l p h i d e m i n e r a l s f o u n d as d i s s e m i n a t i o n s o r w i t h i n q u a r t z and c a l c i t e v e i n l e t s i n c l u d e p y r i t e , p y r r h o t i t e , c h a l c o p y r i t e and r a r e l y s p h a l e r i t e and g a l e n a . S e l e c t e d samples o f q u a r t z v e i n m a t e r i a l w i t h p y r i t e and c h a l c o p y r i t e gave v a l u e s up t o 0.659 o z / t o n g o l d . R e s u l t s from g r i d s o i l s a m p l i n g o f a p o r t i o n o f t h e D i l l p r o p e r t y i n d i c a t e d two

n o r t h t o n o r t h w e s t - t r e n d i n g g o l d a n o m a l i e s r o u g h l y 600m by 300m and 500m by 150m. Anomalous copper v a l u e s a r e p a r t i a l l y c o i n c i d e n t w i t h t h e s e two a r e a s .

B r i c a n R e s o u r c e s L i m i t e d own t h e MAN c o p p e r - g o l d p r o p e r t y a d j o i n i n g t h e D i l l c l a i m s . Recent d r i l l i n g has r e t u r n e d 207 f t o f 0.76% Cu, 0.003 o z / t Au and s e v e r a l o t h e r s i g n i f i c a n t i n t e r c e p t s .

BANK GOLD PROPERTY

2 C l a i a s ( 3 2 u n i t s ) NTS: 92/H-9W, 16W

The Bank g o l d p r o p e r t y i s l o c a t e d 40 km west o f P e a c h l a n d i n s o u t h e r n B.C. The c l a i m s were s t a k e d d u r i n g 1988 t o c o v e r an a r e a o f anomalous g o l d v a l u e s i n s t r e a m s e d i m e n t and s o i l samples. Bedrock e x p o s u r e s a r e s c a r c e b u t t h e i n t e r p r e t e d g e o l o g i c a l s e t t i n g i s f a v o u r a b l e f o r g o l d - b e a r i n g v e i n d e p o s i t s .

S c a t t e r e d o u t c r o p s o f c o a r s e C o a s t I n t r u s i o n g r a n i t e s i n d i c a t e t h a t t h e a r e a i s u n d e r l a i n by b a t h o l i t h , b u t abundant g r a n i t e p o r p h y r y f l o a t c o b b l e s s u g g e s t t h a t O t t e r I n t r u s i o n dykes a r e a l s o p r e s e n t . Major t o p o g r a p h i c l i n e a m e n t s s t r i k i n g n o r t h and n o r t h e a s t

t r a n s e c t t h e p r o p e r t y .

G r i d s o i l s a m p l i n g o f a p o r t i o n o f t h e Bank p r o p e r t y r e t u r n e d many s t r o n g l y anomalous g o l d v a l u e s up t o a h i g h o f 2610 ppb. The p a t t e r n o f a n o m a l i e s i n d i c a t e s a b r o a d n o r t h w e s t t r e n d b u t w i t h g o l d m i n e r a l i z a t i o n p o s s i b l y c o n c e n t r a t e d a l o n g n o r t h e a s t s t r u c t u r e s where t h e y i n t e r s e c t t h i s t r e n d . S i l v e r g e o c h e m i c a l a n o m a l i e s show a p a r t i a l c o i n c i d e n c e w i t h h i g h g o l d v a l u e s and z i n c v a l u e s a r e g e n e r a l l y low.

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RECOMMENDED WORK PROGRAMS:

Work recommended on t h e two p r o p e r t i e s i n c l u d e s a c q u i s i t i o n o f a d d i t i o n a l c l a i m s , s o i l g e o c h e m i c a l s a m p l i n g , g e o l o g i c a l mapping, p r o s p e c t i n g , g e o p h y s i c a l o r i e n t a t i o n s u r v e y s , and backhoe t r e n c h i n g o f t h e b e s t g e o c h e m i c a l t a r g e t s a t D i l l .

APPENDED

P r o p e r t y L o c a t i o n and R e g i o n a l G e o l o g y Map 1989 P r o p o s e d Program Map

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March, 1989

F a i r f i e l d M i n e r a l s L t d .

-4-DILL/BANK PROPERTIES

E S T I M A T E D C O S T O F 1 9 8 9 RECOMMENDED EXPLORATION PROGRAM (DURATION: 12 months: March 1, 1989 t o F e b r u a r y 28, 1990)

PERSONNEL 1 G e o l o g i s t 6 mo x $3000/mo 18,000 3 S o i l / T r e n c h Samplers 3 x 3 mo x 2000/mo 18,000 1 Coolc/Sampler 3 mo x 2700/mo 8,100 1 E x c a v a t o r O p e r a t o r Sub t o t a l 44,100 6 Crew T o t a l O v e r t i m e 7,000 B e n e f i t s 5,900 $57,000

PROFESSIONAL fc TECHNICAL SERVICES

25 days x $600/day 15,000 100 days x 450/day 45,000 60,000

BASE MAP PREPARATION

Topo Map and A i r P h o t o E n l a r g e m e n t s : D i l l , Bank ea @ $800 1,600

CLAIM ACQUISITION D i l l 136 u n i t s and Bank 168 u n i t s 304 u n i t s x $ 5 0 / u n i t 15,200 GEOCHEMICAL ANALYSIS D i l l P r o p e r t y : S o i l s : g r i d 200m x 50m (Au,Cu) 900 x $ 8.00/sample 7,200 S o i l s : f i l l - i n (Au,Cu) 600 x 8.00/sample 4,800 S o i l s : t r e n c h p r o f i l e s (Au,Cu) 400 x 8.00/sample 3,200

Rocks: t r e n c h c h i p s (Au,Cu) 800 x 11.50/sample 9,200 24,400 Bank P r o p e r t y :

S o i l s : g r i d 200m x 50m (Au) 1600 x $5.50/sample 8,800

S o i l s : f i l l - i n (Au) 1600 x 5.50/sample 8,800 17,600

ASSAYS ( T r e n c h r o c k c h i p s )

D i l l : (Au,Ag,Cu) 100 x $20 2,000 Bank: (Au, Ag) 20 x 15 300 2, 300

LOGGING C u t t i n g and d e c k i n g t i m b e r i n a r e a s of t r e n c h s i t e s ft a c c e s s roads D i l l 0.7 km x $2600/km 1,820 Mob-demob 780 » 2,600 Sub T o t a l Forward $180,700 DILL/BANK '89 C o n t i n u e d

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Sub T o t a l F o r w a r d $180,700 BACKHOE T r e n c h i n g and Road B u i l d i n g D i l l 1200m: 250 h r s x $75/hr 18,750 R e c l a m a t i o n 70 h r s x 75/hr 5,250 M o b / d e m o b i l i z a t i o n 1,500 25,500 GEOPHYSICS IP (100m x 25m) D i l l : 5 km x $1000/km 5,000 VLF-EM • Mag (200m x 12.5m) Bank: 20 km x 150/km 3,000 8,000

RENTALS

Compressor 2 mos. x $1000/mo 2,000 R a d i o t e l e p h o n e ( v e h i c l e ) 3 mos. x 200/mo 600 Camp Equipment 3 mos. x 2000/mo 6,000 4x4 V e h i c l e 3 mos. x 1400/mo 4,200 12,800

GENERAL EXPENSES

Camp Equipment & S u p p l i e s 3,500 D r a f t i n g & Computer P l o t t i n g 3,500 Food 500 mandays x $12/md 6,000 F r e i g h t & E x p r e s s 2,000 I n s u r a n c e 500 Maps & P u b l i c a t i o n s 300 O f f i c e S u p p l i e s & P r i n t i n g 1,600 P e t r o g r a p h i c S t u d i e s 900 Propane 600 R e c o r d i n g Fees 9,000 Telephone & P o s t a g e 1,200 T r a v e l 1,800 T r u c k i n g 600 V e h i c l e O p e r a t i n g , M a i n t e n a n c e 1,500 33,000 Sub T o t a l $260,000 15% A d m i n i s t r a t i o n Fee 40,000

TOTAL ESTIMATED COST OF

1989 RECOMMENDED EXPLORATION PROGRAM

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5 0 ° 0 0 ' L E G E N D E o c t n t / O l i g o c t n t A n d « » ( f t f l o w i M l o c t n t / e o r l i t r P r i n c e t o n G r o u p - e h o l e , t o n d t t o n e M i o c e n e A o r l i t r K c - m l o o p t G r o u p - r h y o l i l t , a n d i e f f e U p p t r C r t l a c i a u i O t l t r I n t r u i l o m - g r o n i l e J u r a n l c / C f « t a c e o u i C o o t t I n t r u i i o n t - g r o n l t t , g r a n o d i o r i I* U p p t r T r i a t i l c N i c o l a C r o u p - t i d l n i n f t , g r e e n e f o n e F A I R F I E L D M I N E R A L S L T D .

PROPERTY LOCATION

A N D

R E G I O N A L GEOLOGY

O K A , E L K , D I L L , B A N K 8 W H P R O P E R T I E S SOUTH O K A N A G A N A R E A , B.C. S c a l e > I I n c h = 10 M i l e i 1 0 2 0 C a r b o n a c e o u t P r « P e r m i o n C a c h e C r e e V G r o u p - a r g i l l i t e , q u a r t l i t e C h o p p t r o n G r o u p - t c h l e t S c a l e I n M i l e s C O R D I L L E R A N E N G I N E E R I N G L T D . 1 9 8 0 - 1 0 5 5 W . H A S T I N G S S T R E E T V A N C O U V E R , B . C . V 6 E 2 E 9 C o m p l i e d f r o m G S C M a p i 1 5 - 1 9 6 1 , I 0 5 9 A , B S B A , Q 8 6 A J A N U A R Y 1969 FIGURE 3

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o -vAl i litf l! 2805 AGUR O P T I C^ C UNITS J !

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DILL & £ ^ - . F F D - P D I '<fr (36 UNITS + 136 NEW)! V Headwater ^> \ \^

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Vis Soil Grid 2d Soil Grid i f"** / X1] 2^ Geophysics F A I R F I E L D M I N E R A L S L T D . 1989 P R O P O S E D P R O G R A M S D I L L / B A N K P R O P E R T I E S SIWASH C R E E K A R E A SIMILKAMEEN M.D. NTS 92H-9, 16', B.C. SCALE - 1:100,000 CORDILLERAN ENGINEERING LTD.

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C O R D I L L E R A N E N G I N E E R I N G L T D .

1980 G U I N N E S S T O W E R , 1 0 5 5 W E S T H A S T I N G S S T R E E T , V A N C O U V E R . B.C. V 6 E 2 E 9 T E L : ( 6 0 4 ) 681-8381

March, 1989

PLACER DOME INC. DILL/BANK - 1989 PROGRAM

BASED ON ESTIMATED PAYABLES THE FOLLOWING CASH CALLS ARE REQUIRED TO FUND THE 1989 APPROVED $300,000 PROGRAM

CASH CALL REQUIRED BY: CASH CALL REQUIREMENTS March 28, 1989 $ N i l A p r i l 25, 1989 15,000 May 25, 1989 35,000 June 26, 1989 85,000 J u l y 25, 1989 70,000 Aug. 25, 1989 55,000 Sept. 25, 1989 10,000 Oct. 25, 1989 10,000 Nov. 27, 1989 10,000 Dec. 15, 1989 N i l Jan. 25, 1990 5, 000 Feb. 23, 1990 5,000 TOTAL CASH CALL REQUIREMENT $ 300,000

References

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