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Carolin Mine Property
Century owns 70% of the Carolin Mine
Property, which contains 126 claims covering the old
Carolin Mine and 19 other gold showings. It is located
in British Columbia six miles east of Hope. Century has
the option to buy the remaining 30% of the property for
$6,667.00 for each 1% percent interest purchased.
Century plans to option, joint venture or place the
property in a separate company where exploration can be
conducted using flow-through financing.
The Property is on the Coquihalla
Gold Belt and straddles the north trending Hozameen
fault. The gold showings on the property occur in
conglomerates and volcanic rocks of the Ladner Group on
the east side of the fault. The Carolin Mine has a
historical inferred mineral resource, produced by
Athabaska Gold Resources in May of 1996, of 1.5 million
tons at a grade of 0.129 ounces of gold per ton plus
590,000 tons of tailings with a grade of 0.054 ounces of
gold per ton. (These historic mineral resource
calculations are not NI 43-101 compliant and should not
be relied on as they have not been reviewed by a
qualified person. A qualified person has not done
sufficient work to classify the historical estimate as
current mineral resources or mineral reserves. The
Company is not treating the historical estimate as
current mineral resources or mineral reserves as defined
in NI 43-101. No more recent estimates or data are
available to the Company. The Company believes the
resource estimates are relevant as it documents that
there may be an important gold content in the mine and
tailings pond). A study of the quantity and grade of the
tailings was conducted by Ash Consultants in 1995 and a
metallurgical program was conducted by Melis Engineering
and reviewed by Rescan Environmental Services Ltd.,
which confirmed that reprocessing of the tailings could
produce a gold-bearing concentrate.
Exploration carried out by Athabaska
Gold Resources in the late 1990s extended the 875 level
to the north. Drilling at the north end of the 875 level
intersected two new zones grading 0.33 opt Au over 29
feet and 0.15 opt Au over 49 feet.
A four kilometer gold in soil anomaly
is present on the Carolin Property with the Carolin mine
entrance located at one end and the McMaster gold
showing at the other. It is believed that high angle
faults have moved the gold bearing stratigraphy upwards
as it trends northwards towards the McMaster area. The
McMaster area is a potential open pit target.
The potential of the Carolin area
also includes the native gold potential of the talcose
shears which mark the Hozameen fault. Similar talcose
shears are found in the major fault zone that localizes
the California Motherlode deposits where high grade
native gold has been produced. |
