Minco Silver Corporation - QwikReport

MINCO SILVER CORPORATION : http://www.mincosilver.ca/ : QwikReport

QwikReport

Fuwan Property

Overview

(click to enlarge photos)

Project Location

Drill Rig Location

Fuwan Township

Shipping Port Adjacent to Project

Local Power Plant

Location

The Fuwan Silver Project is located in Gaoming Country approximately 45 km southwest of Guangzhou City, the capital of Guangdong Province, and the fourth largest city in China with a population of 13 million people. The property is adjacent to Minco Gold Corporation's Changkeng Gold Property.

Permits

The Company holds three exploration permits, totaling 125.74 km². The first, the Luoke-Jilinggang, is 57.16 km² in size and held by Foshan Minco, while the other two permits, the Guyegang permit totaling 55.88 km² and the Hecun permit totaling 12.7 km², are held by Minco China in trust for Foshan Minco. To date, the Company has only worked on approximately 2.8 km of a 10 km strike length.

Deposit

The Fuwan silver deposit falls into the broad category of sediment-hosted epithermal deposits and is characterized by 8 zones of vein and veinlet mineralization within structural zones which have wide spread zones of silicification.

The deposit currently has estimated reserves of 9.118 Mt averaging 189 g/t Ag which is expected to sustain an underground operation, of 3,000 tpd, for a mine life of 9.2 years. There is potential to expand the reserves if the current indicated resources of 6,857,000 t averaging 173 g/t Ag for 38,203,000 ounces and the inferred resources of 11,290,000 t averaging 174 g/t Ag for 63,283,000 ounces of silver (Changkeng property included) are successfully upgraded. Only approximately one-third of the 10 km long Fuwan belt has been explored to date with drilling and there is a good exploration potential to find new resources which could also potentially expand the mine life.*

Infrastructure - A Miner's Dream

Unlike most mining properties, the Fuwan property is one of the few mineral projects with significant infrastructure in place, which is expected to save the company tens of millions of dollars in development costs.

Transportation is made easy with a four-lane highway that passes by the property and labour is readily available within the town of Fuwan (pop. 5,000) and nearby Gaoming City (pop. 100,000). Water and telecommunications are readily accessible and a high-voltage power line crosses the property. The adjacent Xijiang River also provides access to the South China Sea, which serves as an international waterway for shipping.

Easy access to a shipping channel also facilitates the disposal of waste rock and carries with it a significant economic benefit. The Company has been approached by several construction companies from Guangzhou City to purchase the waste material for gravel and construction materials with prices ranging from US$2.50 to US$4.50 per tonne. While capable of reducing mining costs, the company has neither reached agreement with any company nor factored these costs savings into their mine development plans.

Ownership

The Company currently has a 90% beneficial interest in the shares of Foshan Minco Mining Co. Ltd. ("Foshan Minco") in the Fuwan Silver Deposit, situated along the northeast margin of the Fuwan Silver Belt in Guangdong Province, People's Republic of China ("China").

For further information, please see our 43-101 Technical Reports page and then follow the link to our NI 43-101 Technical Report dated October 23, 2009 and January 24th 2008.

Geology - Mineralization

HISTORY

Silver and gold were discovered in the area in early 1990 by systematic follow-up of stream sediment and soil geochemical anomalies identified from surveys completed by the Guangdong Provincial government (Regional Geological Survey Team of Guangdong Bureau of Geological Exploration). The 757 Geological Exploration Team conducted trenching and drilling programs between 1993 and 1995 to evaluate the silver mineralization.

MINERALIZATION

Silver mineralization at Fuwan is hosted primarily within a Lower Carboniferous limestone sequence that is unconformably overlain by Upper Triassic siliciclastic rocks. The Carboniferous and Triassic units are folded into an open syncline that has a northeast trending axis. A series of faults oriented sub-parallel to bedding are developed near the unconformity and are considered the main control for the Fuwan silver mineralization and Changkeng gold mineralization. Most of the Fuwan silver mineralization is hosted in the Lower Carboniferous limestone sequence.

The total strike length of the mineralization is 2,790 m and is open to the north, south and southwest. Silver mineralization is characterized by fractured and silificied limestone accompanied by calcite and pyrite with minor galena, sphalerite and barite. Minor amounts of chalcopyrite, arsenopyrite, cinnabar and fluorite have also been observed in the mineralized zones.

The mineralized zones at the Fuwan Silver Deposit are currently considered primary mineralization and have been divided into two types:

Siliceous (silicified) material: This type of material is grey to dark grey in colour and mainly composed of secondary quartz, illite, argillaceous and carbonaceous material, and pyrite. Fractures and mariolitic cavities were highly developed

Calcareous-siliceous material (silicified limestone): This type of material is light grey to dark grey in colour and is composed of secondary quartz, residual limestone, calcite, and pyrite. The mineralization occurs in the second-order faults in the footwall limestone of the contact zone

Within the two above noted primary zones of mineralization, eight zones of silver mineralization have been identified:

Zone 1, lying entirely within the fault plane, contains a relatively large volume of silver mineralization particularly in the west part.
Zone 2, partially within the brecciated and silicified fault zone, contains the greatest volume of silver mineralization.
Zone 3 occurs in the footwall of the main fault zone.
Zones 4, 5, and 6 are situated entirely within the footwall along planar fractures in the limestone.
Zone 7 is located in the Luzhou area, along strike to the southwest of the main Fuwan silver deposit.
Zone 8 is located on the east side of the Xijiang River, along strike to the north east of the main Fuwan silver deposit.

All other disclosure of a scientific or technical nature on this website was reviewed and approved by Thomas Wayne Spilsbury, an independent director of the Company, a Member of the Australian Institute of Geoscientists and a Fellow of the Australasian Institute of Mining and Metallurgy CP (Geo) and a "qualified person", as defined in NI 43-101

Resource Model

Movie Resolution:

Low
Medium
High

Feasibility Study

View the Minco Silver Feasibility Technical Report

Minco Silver released the results of its International Bankable Feasibility Study (IBFS) on September 28, 2009. The report was completed by Wardrop, with portions of the study completed by NERIN, and concluded that the Fuwan Silver Project, based on available information, is technically and economically viable as an underground mining operation.

The Study defines an operation based on underground mining and milling of the ore producing a silver/lead concentrate and a zinc concentrate on site in township of Fuwan, approximately 45 km southwest of the provincial capital of Guangzhou, China.

PROJECT OVERVIEW

Deposit

The Fuwan silver deposit (the "Deposit") falls into the broad category of sediment-hosted epithermal deposits and is characterized by 8 zones of vein and veinlet mineralization within zones of silicification. Zones 7 and 8 are not included in the reserve estimate. The predominant sulphide minerals are sphalerite and galena with lesser pyrite, as well as rare arsenopyrite, chalcopyrite, and bornite. The deposit is poor in gold (typically <0.2 ppm).

Highlights of Feasibility Study:

Feasibility Study Highlights (Pre-Tax)	Feasibility Results
Probable Mineral Reserve	9.118 Mt averaging 189 g/t Ag
Mine Life	9.2 Years
Daily Mine Throughput	3,000 tpd
Mill Recovery (Ag Recovered in both concentrates)	91%
Average Annual Recovered Ag in both concentrates	5.5 M oz
Total Recovered Ag in both concentrates	50.4 M oz
Total Operating Cost/t Ore Milled	$34.42/t
Total Cash Cost per Payable oz Ag	$5.65/oz
Pre-Production Capital Costs	$73.1 M
Silver Price Used for Feasibility Study Economics	13.57/oz Ag
Total Revenue	$648.2 M
Total Operating Cost	$313.8 M
Total Royalty Payment	$24.3 M
Total Operating Cash Flow	$310.0 M
Net Present Value Before Tax @ 6% Discount Rate	$111.5 M
Net Present Value Before Tax @ 8% Discount Rate	$95.3 M
Internal Rate of Return Before Tax	33.2 %
Payback Period of Pre-Production Capital Costs	2.3 years
Construction Period	20 - 24 months

Resource Estimation

P&E completed five resource estimates for the Fuwan silver deposit in November 2005, November 2006, June 2007, December 2007 and May 2008. The May 2008 estimate, which is an update of the December 2007 estimate on the basis of infill drilling, formed the basis of the Study. All resource estimation technical reports were done in compliance with NI 43-101 and CIM standards, most of which were filed on SEDAR. There has been no additional drilling on the deposit area since that time.

Contained Mineral Resources (at a 40g/t Silver cut-off)

Resource Area & Classification (does not include Changkeng mineralization)	tonnes (Mt)	Ag (g/t)	Ag (M oz)	Au (g/t)	Pb (%)	Zn (%)
Fuwan Permit Indicated	13.95	188	84.3	0.17	0.20	0.56
Fuwan Permit Inferred	10.24	171	56.1	0.26	0.26	0.72

Reserve Estimation

The resource estimate provided by P&E classified the resources for the Fuwan Zones 1 to 4 as indicated and inferred. The reserve does not include any resources from the Changkeng property. Only indicated mineral resources as defined in NI 43-101 were used to establish the probable mineral reserves. No reserves were categorized as proven.
Wardrop used a stope recovery factor of 95%, an average mining extraction rate of 97%, and an average 7% internal dilution, 8% external dilution, and 3% fill dilution to estimate the total amount of diluted probable mineral reserves. Ore reserve calculations conservatively assumed dilution to contain no metal.

Operating Costs

The operating cost estimates are based on a process rate of 990,000 t of ore annually or 3,000 tpd of ore.

Mining	$ 18.01/t
Processing	$ 9.90/t
Tailings	$ 1.13/t
G&A	$ 4.78/t
Surface Services	$ 0.60/t
Total	$ 34.42/t

Capital Costs

This estimate has been completed partially by NERIN and partially by Wardrop. The majority of the information used in the estimate is based on the quantities and pricing provided by NERIN to Wardrop

Area Cost Direct Works	(US$ x 1,000)
A - Mining (Wardrop) B - Primary Crushing C - Crushed Ore Stockpile and Reclaim D - Secondary and Tertiary Crushing E - Grinding, Flotation, Dewatering, Reagents & Service F - Tailings Disposal Facilities G - Plant Site, Infrastructure & Ancillary Facilities H - Temporary Services L - Site/Plant Mobile Equipment N - Power Lines (Included in G1 - Power Supply)	21,637 660 305 52 9,140 4,250 8,627 35 1,190 Included in G1
Direct Works Subtotal	$45,896
Indirect
X - Project Indirect Y1 - Land Acquisition Y1 - Owner’s Costs Z - Contingency	13,330 2,120 5,663 6,051
Indirect Subtotal	$27,164
TOTAL PRE-PRODUCTION CAPITAL COSTS (US$)	$73,060
Working Capital	$8,300
Sustaining Capital	$59,900

Sensitivity Analysis

The project economics are sensitive to silver price, Operating costs and Capital expenditures. The sensitivity analysis results are in the table below:

Parameter	Economic Indicator	Change
Parameter	Economic Indicator	-20%	-10%	Base Case	10%	20%
Silver Price	NPV ($M)	33	72	112	151	190
Silver Price	IRR (%)	15	25	33	41	48
Opex	NPV ($M)	157	134	112	89	66
Opex	IRR (%)	41	37	33	29	24
Capex	NPV ($M)	126	119	112	105	97
Capex	IRR (%)	42	37	33	30	27

View The Complete News Release in PDF Format:
http://www.mincosilver.ca/i/pdf/2009-09-28_NR.pdf

For further information, please see our 43-101 Technical Reports page and then follow the link to our NI 43-101 Technical Report dated October 23, 2009 and January 24th 2008.

Exploration / Drilling

Exploration Programs

Minco Silver conducted a comprehensive exploration program on the Fuwan Project during the 2005 - 2008 period. The exploration program includes six phases of drilling totaling 260 drill holes comprising 69,074 m of diamond drilling over both the Fuwan Silver Deposit and the surrounding regional area, detailed hydrological studies for the Fuwan deposit area, metallurgical testing, and geotechnical studies. An exploration report was prepared on the Fuwan deposit at the end of the exploration program and was approved by MOLAR.

The assay results from the drilling programs can be reviewed on the Company's website under various news releases and on SEDAR

Drill Results

Minco Silver began its first phase of drilling on the Fuwan Silver deposit in December of 2005 and completed over 200 holes, totaling more than 50,000 m, by May of 2008. A table of completed holes can be found below.

NSR - indicates No Significant Results.
True widths for the mineralized zones are typically from 85% to 100% of the stated intercepts.
*The indicated holes are part of the hydrology study completed by SRK Consulting and released on December 4, 2007.
** Indicates holes drilled for condemnation drilling for proposed Mine-Mill site facilities.
Samples were prepared and assayed at PRA Kunming lab (Process Research Associated Ltd.) with supervision of a certified BC assayer. Silver was assayed with fire assay and AAS or gravimetric finish. Assay results were further checked at PRA's Vancouver lab as an external check. Samples have also been sent to ASL Chemex Laboratories in Guangzhou, Guangdong Province, PRC for additional check analysis. Reference materials were inserted by Minco staff geologists as a further assay control.

Hole	From (m)	To (m)	Intercept (m)	Average Grade
Hole	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Pb (%)	Zn (%)
FW0002	128.55	130.55	2	0.07	64.5	0.06	0.25
	133.55	135.6	2.05	0.1	71.4	0.1	0.16
	147.34	152.73	5.39	0.04	129.8	0.1	0.36
	165.35	166.15	0.8	0.22	1,280.00	0.08	1.5
	191.25	191.75	0.5	0.12	380	0.07	9.83
	195.04	208	12.96	0.26	234.2	0.05	1.64
	227.04	228.45	1.41	0.07	98	0.02	0.02
FW0003	242.7	251.8	9.1	0.27	248.1	0.24	0.46
	257	264.1	7.1	0.07	74.4	0.09	0.39
	292.3	293.3	1	0.03	894	1.44	0.69
FW0004	285.38	287.86	2.48	0.06	190.5	0.14	0.16
FW0004	300.23	302.65	2.42	0.05	106.8	0.07	0.12
FW0005	236.57	252.42	15.85	0.25	516.9	0.1	0.27
FW0006	129.95	137.25	7.3	0.16	261.2	0.11	0.46
FW0007	95	98	3	0.17	168	0.04	0.12
FW0007	115.76	118.16	2.4	0.22	1,183.40	0.21	0.5
FW0008	178	179.4	1.4	0.22	116.3	0.34	3.21
FW0008	181.87	182.27	0.4	0.02	468.5	0.11	0.07
FW0009	167.16	167.88	0.72	0.16	103	0.06	0.13
	178.15	182.05	3.9	0.05	221.4	0.04	0.31
	232.55	236.28	3.73	0.08	292.5	0.31	0.94
FW0010	226.5	227.6	1.1	0.09	57	0.03	0.01
	250.9	254.9	4	0.04	183.9	1.26	0.67
	288.65	289.35	0.7	0.09	62.1	0.17	0.7
FW0011	154.97	156.97	2	0.12	267.3	0.08	0.18
	178.63	179.3	0.67	0.04	70
FW0012	128.16	134.03	4.48	0.15	253.9	0.31	0.11
	140.37	146.65	6.28	0.12	155.6	0.1	0.49
	201	203.2	2.2	0.2	154	0.2	1.08
FW0013	237	243	6	0.41	575.2	0.57	2.36
FW0013	256.1	265.4	9.3	0.1	270.6	0.36	3.35
FW0014	236.92	240.62	3.7	0.12	143.5	0.09	0.48
	266.15	271.02	4.87	0.04	76.1	0.18	0.84
	287	288.2	1.2	0.07	228	1.27	0.52
FW0015	42.29	43.09	0.8	0.1	118	0.6	0.53
	50.4	52.44	2.04	0.1	81.6	0.12	0.35
	55.59	56.69	1.1	0.09	152	0.04	0.04
FW0016	250.37	250.9	0.53	0.11	325	0.36	1.17
FW0016	268.56	270.14	1.58	0.27	136.2	0.24	0.23
FW0017	97.32	98.32	1	0.16	271	0.12	0.28
	113.73	114.73	1	0.11	391	0.27	2.06
	158.7	161.68	2.98	0.07	166.2	0.49	1.36
FW0018	154.84	158.14	3.3	0.14	251.9	0.17	0.4
	161.1	162.1	1	0.13	128	0.09	0.55
	183.1	183.9	0.8	0.26	322.8	0.48	3.18
	195.45	197.45	2	0.01	90.9	0.04	0.11
	208.35	209.15	0.8	0.11	1,930.50	1.08	2.21
	256.43	256.73	0.3	0.08	192.5	0.76	2.23
FW0019	223.92	232.77	8.85	0.09	338.47	0.52	0.78
FW0019	234.27	236.97	2.7	0.27	64.36	0.15	0.61
FW0020	NSR
FW0021	71.91	80.01	8.1	0.24	152.6	0.16	0.16
	91.1	92.1	1	0.1	620.5	0.47	3.2
	95.5	99.93	4.43	0.15	176.2	0.36	0.7
	110.8	111.16	0.36	0.14	2,100.00	9.31	5.8
FW0022	235.2	235.7	0.5	0.08	68
FW0023	281.2	282	0.8	0.04	66	0.043	0.14
FW0023	319	319.7	0.7	0.04	235	0.14	0.21
FW0024	86.5	87.6	1.1	0.18	234	0.1	0.08
	89.9	93.05	3.15	0.16	75.3	0.11	0.56
	103.07	104.79	1.72	0.13	126.4	0.08	0.28
FW0025	115.5	118.9	3.4	0.28	345.18	0.1	0.15
	182.85	198.2	15.35	0.17	329.81	0.52	0.99
FW0026	285.06	295.14	10.08	0.47	295.8	0.2	0.67
FW0026	301.14	306.39	5.25	0.06	236.4	0.42	0.8
FW0027	255.3	255.9	0.6	0.1	92	0.12	0.17
FW0028	277.11	277.47	0.36	0.06	292	0.13	0.68
FW0028	289.01	289.49	0.48	0.04	152	0.11	0.16
FW0029	268.87	270.92	2.05	0.11	97.1	0.08	0.21
FW0029	289.06	289.46	0.4	0.18	1,413.00	0.95	2.44
FW0030	181.53	182.53	1	0.51	281.5	0.44	1.82
FW0030	210	216.36	6.36	0.04	228.3	0.51	0.34
FW0031	108.2	114	5.8	0.38	55.3	0.05	0.24
FW0031	149.97	150.27	0.3	0.07	1,095.00	1.59	0.76
FW0032	95.87	96.68	0.81	0.31	855	0.49	1.79
FW0032	132.2	133.65	1.45	0.28	98.25	0.36	0.31
FW0033	135.31	135.89	0.58	0.03	228
	138.99	139.79	0.8	0.18	112.5	0.04	0.42
	143.2	143.66	0.46	0.07	498	0.27	0.27
	165.39	166.37	0.98	0.03	88	0.03	0.04
FW0034	87.8	89.8	2	0.44	161.8	0.08	0.2
	92.8	94.8	2	0.29	131.5	0.1	0.09
	97.7	98.7	1	0.2	65.27	0.09	0.03
FW0035	65	66.6	1.6	0.29	114.9	0.26	2.76
	73.8	78.8	5	0.22	439.55	0.4	0.99
	111.1	113.25	2.15	0.16	269.5	1.3	8.26
	117.6	118.5	0.9	0.13	181	1.08	4.84
FW0036	175.8	177.8	2	0.32	285.05	0.24	0.99
FW0037	117.6	119.6	2	0.69	67
FW0037	121.6	134.24	12.65	0.22	121.11	0.15	1.26
FW0038	303.01	304.18	1.17	0.1	81.5
FW0039	147.45	154.88	7.43	0.3	139.92	0.1	0.78
	172.65	173.73	1.08	0.13	95	0.18	0.22
	195.52	196.7	1.18	0.05	89	0.06	0.25
FW0040	185	187.9	2.9	0.13	581.52	0.96	0.54
FW0041	170.25	182.4	12.15	0.57	458.12	0.36	0.68
FW0042	130.8	134.55	3.75	0.2	123.76	0.02	0.03
FW0042	163.83	164.53	0.7	0.06	165	0.09	0.3
FW0043	198.7	199.2	0.5	0.01	133.5
FW0043	242.87	243.15	0.28	0.15	1,438.00	0.51	1.74
FW0044	205	207.3	2.3	0.35	407.22	0.21	0.33
FW0045	140.5	147.7	5.5	0.1	56.92	0.03	0.03
FW0046	259.34	261.08	1.74	0.29	343.51	0.37	3.24
FW0046	275.43	276.66	1.23	0.14	109	0.56	1.88
FW0047	NSR
FW0048	227.5	245.5	11.1	0.21	99.67	0.16	0.45
FW0049	230.03	231.03	1	0.15	115	0.02	0.06
FW0049	245.48	246.48	1	0.18	240	0.13	0.09
FW0050	248.37	251.38	3.01	0.24	599.09	0.52	0.75
	281.45	282.57	1.12	0.03	255	0.11	0.02
	308	309.06	1.06	0.02	160	0.24	0.36
FW0051	321.6	321.85	0.25	0.04	713	0.21	0.39
FW0052	221.4	227.3	3.4	0.08	148.29	0.1	0.03
	245.6	246.1	0.6	0.21	203	0.06	0.09
	278.45	279.35	0.9	0.3	444.5	0.11	0.37
FW0053	284.29	288.25	3.96	0.22	1,223.75	0.98	2.02
FW0053	300.55	302.02	1.47	0.1	501.52	0.19	1.14
FW0054	301.56	302.46	0.9	0.13	576	3.22	2.66
FW0055	194.89	197.63	2.74	0.17	126.17	0.06	0.25
FW 0056				NSR
FW0057	80.4	83.65	3.25	0.08	190.98	0.15	0.29
	97.53	98.66	1.13	0.39	463	0.99	6.06
	102.35	105.67	3.32	0.17	404.16	0.55	1.41
	119.75	120.7	0.95	0.1	223.5	1.26	0.58
FW0058	76.64	78.46	1.82	0.55	867.2	0.76	0.98
	112.72	113.32	0.6	0.05	148	1.25	0.1
	135.86	136.75	0.89	0.04	445	0.56	1.12
FW0059	224.92	233.47	7.85	0.19	160.96	0.23	0.4
FW0059	257.37	258.62	1.25	0.02	85	0.05	0.16
FW0060	176.11	176.69	0.58	0.18	287.5
FW0061	132.52	133.52	1	0.36	112	0.06	0.05
	148	149.5	1.5	0.04	348.5	1.01	0.17
	178.16	179.24	1.08	0.08	165.5	1.26	4.43
	204.43	207.2	2.77	0.06	386.2	1.66	3.5
	211.45	213.65	2.2	0.07	106.3	0.28	2.35
FW0062	222.24	226.34	4.1	0.34	268	0.07	0.21
	230.52	238.06	7.54	0.21	388.64	0.59	1.23
	261.04	264.48	3.44	0.19	233.57	0.28	2.55
	269.06	269.56	0.5	0.07	700	3.99	3.76
	284	284.58	0.58	0.1	173.75	0.58	1.76
FW0063	188.22	191.22	3	0.11	311.33	0.12	0.16
FW0063	199.22	200.22	1	0.08	308	0.18	0.26
FW0064	221.8	237	15.2	0.11	130.93	0.14	0.53
FW0065	262.5	264.5	2	0.16	113.8
FW0066	46.76	50.25	3.49	0.27	137.87	0.05	0.08
FW0066	55.05	55.51	0.46	0.1	440	1.14	3.43
FW0067	209.07	210.04	0.97	0.05	208	0.07	0.07
FW0068	266.59	267.59	1	<0.01	47
FW0069	285.08	286.42	1.34	0.07	180.5	0.08	1.3
FW0070	259.45	263.38	3.93	0.13	364.5	0.44	1.28
	264.8	265.44	0.64	0.06	41
	269.02	270.06	1.04	1.04	70
	284.94	285.74	0.8	0.06	616.5	0.61	0.11
FW0071	176.25	177.6	1.35	0.42	549	0.28	3.37
	183.05	188.05	5	0.38	164.7	0.1	0.45
	207.84	209.51	1.67	0.19	193.34	0.23	3.15
FW0072	130.86	137.52	6.66	0.39	208.33	0.12	0.36
FW0072	172.47	175.67	3.2	0.12	136.3	0.04	0.18
FW0073	190.86	191.21	0.35	0.35	10,429.00	4	5.72
FW0074	NSR
FW0075	176.42	177.22	0.8	0.03	505	0.98	2.51
FW0076	167.17	169.17	2	0.14	118.5	0.04	0.22
FW0076	195.59	198.84	3.25	0.08	1,143.80	0.42	0.55
FW0077	171	173	2	0.89	1,047.00	0.33	0.63
FW0077	178.1	179.2	1.1	0.53	405	0.09	0.28
FW0078	172.9	187.15	14.25	0.16	434.32	0.23	1.43
FW0078	194.82	196.98	2.16	0.11	153	0.1	0.8
FW0079	141.38	143.68	2.3	0.05	508.2	0.11	0.31
FW0080	123.08	124.28	1.2	0.21	188	0.06	0.11
FW0081	188.87	196.37	7.5	0.06	194.83	0.1	0.43
FW0081	202.98	204.08	1.1	0.08	107.5	0.42	2.03
FW0082	217.39	218.52	1.13	0.07	118.5	0.12	0.41
FW0083	196.46	204.11	7.65	0.42	314.18	0.12	0.51
FW0084	166.92	168.92	2	0.07	101	0.03	0.09
FW0084	191.12	193	1.88	0.15	95.61	0.2	0.31
FW0085	191.44	192.55	1.11	0.16	93.5	0.17	1.43
	205.6	211.7	6.1	0.28	293.9	0.21	0.39
	226.75	227.75	1	0.14	113	0.13	0.37
	245.88	246.88	1	0.25	108	0.12	0.43
FW0086	240	240.2	0.2	0.04	1,17.5.00
FW0087	230.61	230.89	0.28	0.23	1,171.50	0.42	1.75
FW0088	302.69	303.52	0.89	0.11	32
FW0089				Incomplete
FW0090	158.93	165.93	7	0.28	91.64	0.03	0.11
	223.15	230.96	7.81	0.11	557.49	0.27	1.28
	250.2	251.5	1.3	0.1	177	0.06	0.17
FW0091	241.9	242.75	0.85	0.11	26.1
FW0092	220.6	226.1	5.5	0.33	108.97	0.06	0.08
FW0092	255.5	256.4	0.9	0.9	377	0.25	0.49
FW0093	230.4	230.85	0.45	0.06	455.5	0.22	0.15
	245.8	248.55	2.75	0.06	126.63	0.42	0.66
	272.4	274	1.6	0.06	109.5	0.58	2.28
FW0094	239.93	240.93	1	0.25	334.5	0.15	0.65
FW0094	249.33	253.68	4.35	0.05	107.85	0.22	0.32
FW0095	197.97	201.6	3.82	0.38	204.51	0.02	0.02
	240.4	246.4	6	0.12	99.67	0.09	0.16
	260.75	261.55	0.8	0.07	196	0.06	0.22
FW0096	241.7	247.1	5.4	0.07	768.67	0.49	0.82
FW0097	224.6	248.4	3.8	1.68	54.53	0.04	0.12
	270.15	270.6	0.45	0.34	663.5	0.37	0.42
	287.55	288.65	1.1	0.08	103	0.23	3.41
	290.8	291.65	0.85	0.11	231	0.42	4.04
	314.25	317.9	3.65	0.1	84.39	0.19	3.48
	322.8	323.9	1.1	0.2	117.5	0.26	5.18
FW0098	260.02	261.47	1.45	0.16	54.34	0.07	0.18
FW0099	243.75	250.55	6.8	0.12	149.09	0.26	1.77
FW0099	260.03	263.4	3.1	0.18	200.63	0.3	3.49
FW0100				Incomplete
FW0100-1 *	176.22	177.22	1	0.63	55	0.02	0.01
	188.7	203.3	14.6	0.07	26.25	0.03	0.03
	270.4	271.4	1	0.03	63	0.04	0.07
	280.4	284.1	3.7	0.18	91.86	0.05	0.35
FW0101	240.48	241.48	1	0.01	151	0.01	0.01
FW0101	244.41	246.26	1.85	0.1	152.55	0.16	1.36
FW0102	122.43	125.76	3.33	0.37	1,602.89	0.42	1.16
FW0102	188.63	189.95	1.32	0.09	92.5	0.51	1.01
FW0103	218.65	219.65	1	<0.01	26.3
FW0104	217.36	220.30	2.94	0.14	275.61	0.18	0.47
	238.00	239.00	1.00	0.08	266.00	0.16	0.24
	246.00	249.95	3.95	0.14	377.90	0.87	1.87
FW0105	265.35	268	2.65	0.17	1,165.28	1.55	2.46
FW0106	242.45	244.45	2	0.09	57	0.3	0.42
FW0106	264.27	266.32	2.05	0.07	808.24	0.39	2.12
FW0107				NSR
FW0108	235.97	237.13	1.16	0.12	50	0.05	0.05
FW0109	284.42	287.2	2.78	1.27	65.1	0.06	0.25
FW0109	296.36	298.9	2.54	0.03	282.27	0.17	1.69
FW0110	281.5	287.5	6	0.41	118.52	0.06	0.44
	297.3	301.6	4.3	0.15	107.2	0.15	0.4
	315	319.7	4.7	0.08	655.69	0.71	0.6
	324.7	332.34	7.64	0.08	216.16	0.43	1.18
	353.5	355.3	1.8	0.07	168.11	0.49	1.11
FW0111	262.2	264.2	2	0.15	574	0.44	0.49
	295.1	295.85	0.75	0.05	267.5	0.3	1.98
	321.8	322.6	0.8	0.17	253.5	0.12	0.06
FW0112	258.2	259.5	1.3	0.05	165	0.06	0.13
FW0113				NSR
FW0114	181.24	184.48	3.24	0.07	372.58	0.54	1.72
FW0115	98.7	106.6	7.9	0.09	292.2	0.46	0.36
FW0115	124.58	125.65	1.07	0.45	1,456.50	4.5	10.73
FW0116				NSR
FW0117	92.81	98.81	6	0.24	233.92	0.15	0.52
	104.94	105.94	1	0.19	165	0.12	0.31
	113.98	116.21	2.23	0.06	209.41	0.48	0.93
	126.94	131.14	4.2	0.09	353.9	1.28	2.63
	153.59	156.89	3.3	0.04	412.67	1.08	2.05
FW0118	65.67	70.3	4.63	0.19	177.27	0.1	0.15
FW0119	101.28	103.23	1.95	0.2	472.95	0.84	3.3
	107.69	109.33	1.64	0.04	80	0.03	0.05
	116.72	120.4	3.68	0.21	354.13	0.71	1.41
FW0120	116.7	123.83	7.13	0.19	190.67	0.64	0.45
	128.7	131.98	3.28	0.23	265.46	1.2	2.19
	145.01	146.06	1.05	0.11	356	0.59	2.1
FW0121	107.3	110.3	3	0.13	173	0.1	0.38
FW0122	100.33	106.25	5.92	0.17	160.64	0.78	1.4
FW0123				Incomplete
FW0124	127.75	129	1.25	0.11	1,166.00	2.35	1.63
FW0125	165.95	170.18	4.23	0.1	93.03	0.33	1.77
FW0126	107.82	109.85	2.03	0.15	152.24	1.62	4.35
FW0127				NSR
FW0128*	128.1	129.77	1.67	0.14	81.01	0.4	1.43
	153.13	154.35	1.22	0.08	192	0.36	0.91
FW0129				NSR
FW0130	233.93	234.33	0.4	0.07	93	0.26	1.02
	236.5	238.1	1.6	0.04	173.44	0.55	0.54
	265.83	267.97	2.14	0.09	251	0.47	3.17
	283.06	284	0.94	0.07	346
FW0131	162.35	163.49	1.14	5.24	196	0.09	0.05
	168.61	171.44	2.83	0.28	130.31	0.13	0.2
	209.27	210.35	1.08	0.26	2,867.50	1.24	11.31
FW0132				NSR
FW0133	76.06	84.74	8.68	0.13	125.83	0.14	0.64
	114.35	115.45	1.1	0.14	409.5	1.12	3.26
	134.56	135.4	0.84	0.08	90	0.07	0.03
	152	155.4	3.4	0.05	95.28	0.73	0.19
	188.83	189.15	0.32	0.05	163	0.34	0.64
	211	211.7	0.7	0.09	238	0.89	1.32
	213.7	214.7	1	0.1	53	0.08	0.06
FW0134	185.65	186.3	0.65	0.09	1,196.00	1.69	2.19
FW0135*	85.18	111.87	26.69	0.09	87.50	0.13	0.47
FW0136	170.8	175.76	4.96	0.11	203.27	0.08	0.72
	209.7	211.7	2	0.11	74
FW0137	164.07	167.03	2.96	0.16	253.41	0.14	0.85
	214.05	214.76	0.71	0.07	502.5	0.74	0.66
	261.47	262.57	1.1	0.22	125	0.16	0.57
	296.15	296.46	0.31	0.1	119.5	0.07	0.28
FW0138	129.65	130.65	1	0.14	208.5	0.57	1.85
FW0139	135.1	136.1	1	0.45	56	0.01	0.04
	199.4	200.9	1.5	0.1	851.08	0.39	0.85
FW0140	119.05	122.45	3.4	0.17	286.81	0.16	0.32
	204.77	206.1	1.33	0.04	178.5	0.21	0.59
	208.45	210.18	1.73	0.12	116.36	0.61	1.83
FW0141				NSR
FW0142	193.71	194.71	1	0.07	91.5	0.06	0.18
FW0143	184.85	185.22	0.37	0.1	169.5	0.14	0.13
	254.87	255.72	0.85	0.03	193.5	0.15	0.38
FW0144	128.45	134.45	6	0.19	482.83	0.55	1.25
	142.45	143.45	1	0.06	75	0.19	0.32
	175.11	175.45	0.34	0.11	50	0.41	6.46
	220.54	221.54	1	0.02	65	0.23	0.28
	223.3	224.3	1	0.11	59	0.09	2.7
	229.45	229.85	0.4	0.07	218.5	0.25	2.44
	236.85	238.45	1.6	0.02	61.5	0.66	0.46
	265.25	265.95	0.7	0.15	54	0.34	3.64
FW0145	117	118	1	0.05	351	0.68	1.27
FW0146	284.05	284.55	0.50	0.11	117.50	0.76	3.10
	292.85	293.85	1.00	0.05	227.50	0.40	0.54
	300.75	301.75	1.00	0.01	118.00	0.04	0.01
	311.55	312.55	1.00	0.17	53.00	0.03	1.60
FW0147	43	83.3	40.3	0.14	241.4	0.09	0.29
	96.7	101.6	4.9	0.11	926.33	2.35	9.31
	104.6	108.5	3.9	0.07	893.19	1.72	9.79
	145.55	146.3	0.75	0.01	199	0.14	0.45
	150.14	152	1.86	0	284.13	0.38	0.33
	163.2	164.2	1	0	293.5	0.09	0.32
FW0148				NSR
FW0149	173.05	174.05	1	0.15	232.5	0.77	2.05
	232.03	232.45	0.42	0.02	318	0.93	1.54
FW0150				NSR
FW0151	223.3	224.1	0.8	0.08	101.5	0.24	0.24
FW0152	189.7	190.45	0.75	0.32	1,264.00	2.63	5.64
	197.33	208.45	11.12	0.15	108.45	0.4	0.66
FW0153	186.8	187.8	1	0.11	150	0.05	0.33
	190.8	191.8	1	0.08	127.5	0.12	0.33
	195.2	196.2	1	0.06	105	0.06	0.09
	255.7	256.7	1	0.01	89	0.06	0.18
	263.81	264.96	1.15	0.02	101	0.15	0.32
FW0154	182.15	184.55	2.4	0.37	724.56	2.2	4.36
FW0155	296.4	297.43	1.03	3.29	275.5	3	4.72
FW0156	169.65	170.65	1	1.3	2,142.00	0.58	1.33
	174.65	183.55	8.9	0.09	175.2	0.03	0.18
FW0157 **				NSR
FW0158	130.58	132.9	2.32	0.03	211.46	0.46	0.78
	136.28	140.17	3.89	0.15	74.95	0.23	1.09
	161.9	165.21	3.31	0.03	202.72	0.21	0.41
	182.89	183.86	0.97	0.14	156	0.24	1.28
FW0159	183.95	185.62	1.67	0.03	251.13	0.09	0.12
FW0160	85.85	96.3	10.45	0.2	105.84	0.08	0.24
	98.3	99.15	0.85	0.21	94.5	0.16	0.62
	101.85	102.85	1	0.12	57	0.08	0.63
	127.02	127.52	0.5	0.21	379.5	1.49	0.15
	156.03	156.3	0.27	0.28	458	0.44	1.02
FW0161	160.7	161.6	0.9	0.08	133.5	0.11	0.49
FW0162				NSR
FW0163	35.35	36	0.65	0.05	330.5	0.15	0.05
	47.6	48.4	0.8	0.16	366.5	0.09	5.18
	106	106.6	0.6	0.11	79	0.06	0.19
FW0164	92.35	93.2	0.85	0.06	168	0.14	0.4
	114.05	114.95	0.9	0.03	87	0.24	1.23
FW0165	195.03	196.03	1	0.15	427	0.37	0.97
FW0166	65.6	66.6	1	0.21	276	0.24	0.66
	69.6	70.6	1	0.4	308	0.28	0.85
FW0167	96.5	98.7	2.2	0.16	139	0.1	0.31
FW0168	28.57	46	17.43	0.29	185.35	0.07	0.2
FW0169				NSR
FW0171	87.7	94.7	7	0.05	88.89	0.13	0.59
	107.1	108.8	1.7	0.22	76.41	0.09	0.42
FW0172	111.4	143.95	2.7	0.59	183.67	0.11	0.79
FW0173				NSR
FW0174				NSR
FW0175	38.35	41.35	3	0.1	74.33	0.02	0.09
FW0176	73.87	76.87	3	0.06	98.17	0.02	0.1
	87.5	91.04	3.54	0.04	80.72	0.01	0.01
	129.3	140.74	11.44	0.04	89.5	0.07	0.13
	159.2	159.74	0.54	0.08	144	0.22	0.42
FW0177	139.3	141.3	2	0.37	1,468.25	0.16	0.27
	144.8	145.9	1.1	0.29	429.5	0.22	1.32
	156.44	156.9	0.46	0.09	169	0.11	0.56
	158.8	159.25	0.45	0.18	328.5	0.18	0.47
	182.7	183.7	1	0.25	115.5	0.08	0.18
	185.31	187	1.69	0.25	485.79	0.41	1.31
	193.8	196.8	3	0.21	159.67	0.07	0.16
FW0178	188.15	189.95	1.8	0.11	187.65	0.04	0.28
	193.1	194.2	1.1	0.05	123.5	0.07	0.33
	280.8	281.2	0.4	0.02	361.5	0.25	0.11
	288.78	289.68	0.9	0.08	112	0.41	1.83
FW0179	210.1	225.3	15.2	0.29	474.12	0.1	0.19
FW0180	218.2	218.5	0.3	0.13	79	0.03	0.3
	222.82	226.36	3.54	0.09	218.54	0.13	0.69
	242.91	243.66	0.75	0.02	88	0.02	0.03
	251.64	253.8	2.16	0.04	185.42	0.04	0.05
	257.75	260.14	2.39	0.17	448.99	0.89	5.59
	261.99	262.79	0.8	0.12	57	0.13	0.2
FW0181	233.56	234.31	0.75	0.23	64	0.03	0.48
	235.8	236.7	0.9	0.05	66	0.04	0.05
	245.6	250	4.4	0.08	116.66	0.4	0.6
	267.75	267.97	0.22	0.1	76	0.21	0.35
	282	282.16	0.16	0.1	1,999.50	1.46	0.04
	300.9	301.85	0.95	0.04	258.5	0.8	0.92
	304.1	305.15	1.05	0.19	135.52	0.47	0.94
	340.93	341.26	0.33	0.18	205.5	0.19	0.67
FW0182	189.5	195.5	6	0.64	304.5	0.17	0.32
	200.25	203.25	3	0.13	78.17	0.08	0.16
FW0183	198.8	199.3	0.5	0.03	343	0.58	0.86
	250.85	251.3	0.45	0.08	513.5	0.44	2.06
	256.6	257.25	0.65	0.16	628	1.01	3.02
	263.8	264.2	0.4	<0.01	142	0.01	0.3
	277.75	278.7	0.95	<0.01	54	0.06	0.12
	288.5	289.25	0.75	0.02	72	0.06	0.3
FW0184	25.35	27.35	2	0.39	117.25	0.02	0.02
	293.8	294.55	0.75	0.01	70	0.79	3.97
FW0185				NSR
FW0186	85.6	99.9	14.3	0.02	39.65	0.01	0.03
	117.5	119.3	1.8	0.15	105.5	0.04	0.14
	128.95	131.25	2.3	0.21	103.5	0.04	2.62
	137.33	138.45	1.12	0.07	79	0.1	0.52
FW0187				NSR
FW0188	127.05	127.85	0.8	<0.01	58	0	0.01
	132.65	133.65	1	0.03	54	0	0.01
	143.9	144.16	0.26	0.08	494	0	0.03
	248	249.35	1.35	0.02	114.37	0.16	0.06
FW0189	98.05	99.05	1	<0.01	65	0	0.02
FW0189	103.05	107.05	4	0	50.25	0	0.02
FW0190	121.7	121.8	0.1	0.12	258	0.45	2.67
FW0190	130.2	130.35	0.15	0.06	315	0.41	2.02
FW0191	68.3	69.3	1	0.83	52	0.08	0.34
FW0191	152.1	152.8	0.7	0.09	125	0.36	1.43
FW0192	53.05	55.8	2.75	0.15	124	0.01	0.04
	66.3	72.1	2.5	0.15	89.56	0.02	0.04
	161.74	164.24	2.5	0.13	361.33	0.22	0.61
	169.24	171.2	1.96	0.26	388.78	1.29	3.26
	203.07	208.25	5.18	0.18	469.3	1.3	2.93
	215.4	215.72	0.32	0.14	934	0.45	1.49
FW0193	55.11	56.2	1.09	0.39	154	0.04	0.09
	72.83	73.17	0.34	<0.01	647	0.25	0.46
	78.13	79.38	1.25	0.13	89.6	0.06	0.15
FW0194	256.2	256.3	0.1	0.08	318	0.22	0.05
FW0194	295.5	295.9	0.4	0.05	105	0.6	0.58
FW0195	95.2	113.85	6.1	0.33	49.83	0.01	0.06
	161.35	165.35	4	0.1	229.5	0.83	0.6
	238.66	238.97	0.31	0.1	152	0.1	1.69
	252.55	253.55	1	0.35	168	0.12	6.06
FW0196	72.6	74.03	1.43	0.58	121.62	0.15	0.49
FW0197	130.6	133.9	0.8	0.21	145	1.04	3.02
	163.8	167.3	1.3	0.85	216.77	0.25	0.5
FW0198	101.1	110.45	6.78	0.18	79.03	0.02	0.04
	130.5	131.6	1.1	0.07	104	0.04	0.24
	205.85	206.85	1	0.18	385	0.35	2.45
	241.7	243.2	1.5	0.17	521	0.54	0.66
	262.8	263.5	0.7	0.03	198	0.36	0.52
FW0199	56.8	57.8	1	0.04	50	0.02	0.02
	68.7	69.7	1	0.02	50	0.02	0.12
	104.3	112	2.1	0.07	121.33	0.02	0.05
	120.6	120.9	0.3	0.06	56.1	0.01	0.01
	142.36	143.36	1	0.03	101	0.08	0.11
	154.4	156.4	2	0.38	306.58	0.25	5.08
	186.4	188.25	1.85	0.01	64.57	0.07	0.17
FW0200	97.75	102.95	5.2	0.17	316.44	0.3	0.57
FW0201	13.1	14	0.9	1.84	37	0.16	0.01
FW0201	272.6	273.35	0.75	0.06	71	0.08	0.86
FW0202	19.05	20.05	1	0.06	84	0.03	0.15
FW0202	142.8	143.5	0.7	0.13	124	0.02	0.03
FW0203				NSR
FW0204	91.6	94	0.5	0.54	149.7	0.05	0.08
	101.45	107.4	2.05	1.21	70.64	0.06	0.07
	140.81	144.95	4.14	0.09	105.13	0.15	0.41
	165.8	166.8	1	0.23	173	0.03	3.5
	278.09	281.65	3.56	0.07	43.18	0.05	0.03
FW0205	18.14	26.34	8.2	0.1	87.48	0.03	0.08
FW0206				NSR
FW0207				NSR
FW0208	130.28	130.5	0.22	0.03	176	0.03	0.06
	173.9	175.1	1.2	0.1	356	0.13	0.84
FW0209	86.5	86.7	0.2	0.19	108	0.06	0.05
FW0209	249.65	250.7	1.05	0.03	243	0.22	0.27
FW0210				NSR
FW0211	34.6	44.05	8.35	0.3	41.25	0.02	0.03
	185.1	185.95	0.85	0.05	51.2	0.11	0.08
FW0212	41.52	45.93	1.91	0.06	111.12	0.03	0.15
	58.7	62.1	3.4	0.03	48.53	0.02	0.1
	68.35	68.7	0.35	0.21	362	0.28	0.08
	246.68	247.2	0.52	0.04	61	0.04	0.15
FW0213				NSR
FW0214	402.64	403.84	1.2	0.25	154	0.61	4.17
FW0219				NSR
FW0220	75.9	77	1.1	0.03	62	0.01	0.03
	79.8	81.9	2.1	0.32	50.52	0.03	0.07
	86.1	94.05	7.95	0.12	203.86	0.13	0.11
	121.8	124.9	3.1	0.11	180.87	0.08	0.59
	135.8	136.1	0.3	0.03	97	0.04	0.23
FW0221	43.9	44.2	0.2	0.25	1079	0.18	0.44
	57.4	57.6	0.2	0.07	616	0.67	0.3
	119.87	120.05	0.18	0.86	3107	1.69	2.67
FW0223	83.1	84	0.9	0.02	155	0.14	0.84
CK2002*	184.42	188.3	3.88	0.18	152.37	0.03	0.07
	205.4	213.3	7.9	0.16	264.55	0.13	0.25

For further information, please see our 43-101 Technical Reports page and then follow the link to our NI 43-101 Technical Report dated October 23, 2009 and January 24th 2008.