The Niblack CU-AU-ZN-AG Volcanogenic Massive Sulfide Deposit, Alaska

The Niblack polymetallic volcanogenic massive sulfide deposits are located on Prince of Wales Island in southeast Alaska, approximately 50 km southwest of Ketchikan. The property hosts a number of polymetallic volcanogenic sulfide occurrences within the folded Lookout rhyolite volcanic succession. The Lookout deposit is the primary focus of current resource delineation and contains an indicated resource of 4,136,000 tonnes at 1.13% Cu, 2.32 g/t Au, 2.27% Zn, 38.70 g/t Ag and an inferred resource of 1,736,000 tonnes at 1.09% Cu, 1.77 g/t Au, 2.02% Zn, and 25.52 g/t Ag as of March 2011. Sulfide mineralization is interpreted to have formed sub-seafloor, within permeable felsic fragmental volcanic rocks. Sulfide minerals of economic interest include chalcopyrite and Fe-poor, Zn-rich sphalerite. Of considerable importance, the Lookout deposit contains elevated gold that occurs as inclusions within the base metal sulfides.