UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: September
11, 2014
(Date of earliest event reported)
MIDWAY GOLD CORP.
(Exact Name of Registrant as Specified in Charter)
British Columbia, Canada
(State or Other Jurisdiction of Incorporation) |
001-33894
(Commission File Number) |
98-0459178
(IRS Employer Identification No.) |
Point at Inverness, Suite 280
8310 South Valley Highway
Englewood, Colorado
(Address of principal executive offices) |
80112
(Zip Code) |
Registrant’s telephone number, including area code:
(720) 979-0900
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure.
On September 9, 2014, the Registrant filed
a technical report titled “NI 43-101 Technical Report on Resource, Spring Valley Project”, dated September 9, 2014
(the “Technical Report”) with the securities regulatory authorities in Canada. The Technical Report is hereby being
furnished to the Securities and Exchange Commission (“SEC”) as Exhibit 99.1 to this current report on Form 8-K to satisfy
the Registrant’s “public disclosure” obligations under Regulation FD of the SEC. The Technical Report was prepared
in accordance with National Instrument 43-101 of the Canadian Securities Administrators (“NI 43-101”) by Gustavson
Associates, LLC.
In accordance with General Instruction B.2
of Form 8-K, the information set forth herein and in the Technical Report is deemed to be “furnished” and shall not
be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended. The information set
forth in Item 7.01 of this current report on Form 8-K shall not be deemed an admission as to the materiality of any information
in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.
All mineral resources in the Technical Report
have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute
of Mining, Metallurgy and Petroleum referred to in NI 43-101. U.S. reporting requirements for disclosure of mineral properties
are governed by the SEC Industry Guide 7 (“Guide 7”). NI 43-101 and Guide 7 standards are substantially different.
The terms “mineral reserve”, “proven mineral reserve” and “probable mineral reserve” are Canadian
mining terms as defined in accordance with NI 43-101. These definitions differ from the definitions in Guide 7. Under Guide 7 standards,
a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average
price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must
be filed with the appropriate governmental authority.
The Technical Report uses the terms “mineral
resource,” “measured mineral resource,” “indicated mineral resource” and “inferred mineral
resource”. These terms are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms
under Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are
cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. “Inferred
mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists
or is economically or legally mineable. Disclosure of “contained pounds” in a resource is permitted disclosure under
Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves”
by SEC standards as in place tonnage and grade without reference to unit measures.
Item 9.01. Exhibits.
The following Exhibits relating to Item 7.01
are intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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MIDWAY GOLD CORP. |
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DATE: September
11, 2014 |
By: |
/s/ Bradley J. Blacketor |
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Bradley J. Blacketor
Chief Financial Officer |
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EXHIBIT INDEX
The following Exhibits relating to Item 7.01
are intended to be furnished to, not filed with, the SEC pursuant to Regulation FD.
NI
43-101 TECHNICAL REPORT ON RESOURCES
sPRING
VALLEY Project
Pershing
County, Nevada
PREPARED
FOR
![](image_001.jpg)
Report
Date: September 9, 2014
Effective
Date: August 1, 2014
Prepared
by
William
J. Crowl, R.G., MMSA QP
Zachary
J. Black, SME-RM
Deepak
Malhotra, PhD, SME-RM
![](image_027.jpg)
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
William
J. Crowl
Vice
President, Mining
Gustavson
Associates, LLC
274
Union Boulevard, Suite 450
Lakewood,
Colorado 80228
Telephone:
720-407-4062 Facsimile: 720-407-4067
Email:
wcrowl@gustavson.com
CERTIFICATE
of AUTHOR
I,
William J. Crowl do hereby certify that:
| 1. | I
am currently employed as Vice President, Mining by Gustavson Associates, LLC at: |
274
Union Boulevard
Suite
450
Lakewood,
Colorado 80228
- I
am a graduate of the University of Southern California with a Bachelor of Arts in Earth Science (1968), and an MSc in Economic
Geology from the University of Arizona in 1979, and have practiced my profession continuously since 1973.
- I
am a registered Professional Geologist in the State of Oregon (G573) and am a registered member of the Mining and Metallurgical
Society of America (01412QP)..
- I
have worked as a geologist for a total of 40 years since my graduation from university; as a graduate student, as an employee
of a major mining company, a major engineering company, and as a consulting geologist.
- I
have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43-101”) and
certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant
work experience, I fulfill the requirements to be a “qualified person” for the purposes of NI 43-101.
- I
am responsible for the preparation of the technical report titled “NI 43-101 Technical Report on Resources, Spring Valley
Project” dated September 9, 2014 with an effective date of August 1, 2014 (the “Technical Report”), with specific
responsibility for Sections 1-8, and 15-19 and overall corporate responsibility for the general content and organization of the
report. Mr. Crowl visited the site on October 24, 2013 for one day
September 9, 2014 | i | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
- I
have had prior involvement with the property that is the subject of this Technical Report. I was responsible for the preparation
of the report titled “NI 43-101 Technical Report on the Spring Valley Project, Pershing County, Nevada,” dated May
24, 2011, with specific responsibility for Sections 9, 10 and 11 and overall corporate responsibility for the general content
and organization of the report.
In
addition, I was responsible for the preparation of the technical report titled “Updated NI 43-101 Technical Report on the
Spring Valley Project” dated November 29, 2012, with specific responsibility for Sections 9, 10 and 11 and overall corporate
responsibility for the general content and organization of the report.
- I
am independent of the issuer applying all of the tests in Section 1.5 of National Instrument 43-101.
- I
have read National Instrument 43-101 and Form 43-101, and the Technical Report has been prepared in compliance with that instrument
and form.
| 10. | I
consent to the filing of the Technical Report with any stock exchange and other regulatory
authority and any publication by them for regulatory purposes, including electronic publication
in the public company files on their websites accessible by the public, of the Technical
Report. |
| 11. | As
of the date of this certificate, to the best of my knowledge, information and belief,
the Technical Report contains all scientific and technical information that is required
to be disclosed to make the Technical Report not misleading. |
Dated
this 9th day of September, 2014.
/s/ William J. Crowl |
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Signature
of Qualified Person |
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William J. Crowl
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Signature
of Qualified Person |
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September 9, 2014 | ii | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Zachary
J. Black
Associate
Resource Geologist
Gustavson
Associates, LLC
274
Union Boulevard, Suite 450
Lakewood,
Colorado 80228
Telephone:
720-407-4062 Facsimile: 720-407-4067
Email:
zblack@gustavson.com
CERTIFICATE
of AUTHOR
I,
Zachary J. Black do hereby certify that:
- I
am currently employed as Associate Resource Geologist with Gustavson Associates, LLC at:
274
Union Boulevard
Suite
450
Lakewood,
Colorado 80228
- I
am a graduate of the University of Nevada Reno with a Bachelor of Science in Geological Engineering, and have practiced my profession
continuously since 2005.
- I
am a registered member of the Society of Mining Metallurgy and Exploration (No. 4156858RM).
| 4. | I
have worked as a Geological Engineer/Resource Estimation Geologist for a total of seven
years since my graduation from university; as an employee of a major mining company,
a major engineering company, and as a consulting engineer. I have estimated numerous
mineral resources containing gold and have seven years of precious and base metals experience. |
- I
have read the definition of “qualified person” set out in National Instrument 43-101 (“NI 43-101”) and
certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant
work experience, I fulfill the requirements to be a “qualified person” for the purposes of NI 43-101.
- I
am responsible for the preparation of the technical report titled “NI 43-101 Technical Report on Resources, Spring Valley
Project” dated September 9, 2014 with an effective date of August 1, 2014 (the “Technical Report”), with specific
responsibility for Sections 9-12 and 14. Mr. Black visited the site on October 21 and 22, 2010 and October 24, 2013 for one day.
September 9, 2014 | iii | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
- I
have had prior involvement with the property that is the subject of this Technical Report. I prepared the resource estimate in
the report titled “NI 43-101 Technical Report on the Spring Valley Project, Pershing County, Nevada,” dated May 24,
2011. In addition, I prepared the resource estimate in the report titled “Updated NI 43-101 Technical Report on the Spring
Valley Project” dated November 29, 2012.
- I
am independent of the issuer applying all of the tests in Section 1.5 of National Instrument 43-101.
| 9. | I
have read National Instrument 43-101 and Form 43-101, and the Technical Report has been
prepared in compliance with that instrument and form. |
| 10. | I
consent to the filing of the Technical Report with any stock exchange and other regulatory
authority and any publication by them for regulatory purposes, including electronic publication
in the public company files on their websites accessible by the public, of the Technical
Report. |
| 11. | As
of the date of this certificate, to the best of my knowledge, information and belief,
the Technical Report contains all scientific and technical information that is required
to be disclosed to make the Technical Report not misleading. |
Dated
this 9th day of September, 2014.
/s/ Zachary J. Black
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Signature
of Qualified Person |
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Zachary J. Black
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Signature
of Qualified Person |
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September 9, 2014 | iv | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Deepak
Malhotra, PhD,
Member
SME-RM, CIMM
Resource
Development, Inc.
11475
West I-70 Frontage Road North
Wheat
Ridge, Colorado 80033
Telephone:
(303) 422-1176 Facsimile: (303) 424-8580
Email:
dmalhotra@aol.com
CERTIFICATE
of AUTHOR
I,
Deepak Malhotra do hereby certify that:
- I
am currently employed as President by Resource Development, Inc. at:
11475
West I-70 Frontage Road North
Wheat
Ridge, Colorado 80033
| 2. | I
am a graduate of Colorado School of Mines with a M.Sc. degree in Metallurgical Engineering
(1974), and PhD in Mineral Economics (1978). |
| 3. | I
am a registered member of the Society of Mining, Metallurgy and Exploration, Inc. (SME),
member No. 2006420RM. |
| 4. | I
have worked as a Metallurgist/Mineral Economist for a total of 40 years since my graduation
from university; as an employee of several mining companies, an engineering company,
a mine development and mine construction company, an exploration company, and as a consulting
engineer.. |
| 5. | I
have read the definition of “qualified person” set out in National Instrument
43-101 (“NI 43-101”) and certify that by reason of my education, affiliation
with a professional association (as defined in NI 43-101) and past relevant work experience,
I fulfill the requirements to be a “qualified person” for the purposes of
NI 43-101. |
| 6. | I
am responsible for the preparation of the technical report titled “NI 43-101 Technical
Report on Resources, Spring Valley Project” dated September 9, 2014 with an effective
date of August 1, 2014 (the “Technical Report”), with specific responsibility
for Section 13. I have not visited the Spring Valley Mine Site. |
| 7. | I
have had prior involvement with the property that is the subject of this Technical Report.
I was responsible for the preparation of the report titled “NI 43-101 Technical |
September 9, 2014 | v | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Report
on the Spring Valley Project, Pershing County, Nevada,” dated May 24, 2011, with specific responsibility for Section 18.
| 8. | In
addition, I was responsible for the preparation of the technical report titled “Updated
NI 43-101 Technical Report on the Spring Valley Project” dated November 29, 2012,
with specific responsibility for Section 18. |
| 9. | I
am independent of the issuer applying all of the tests in Section 1.5 of National Instrument
43-101. |
| 10. | I
have read National Instrument 43-101 and Form 43-101, and the Technical Report has been
prepared in compliance with that instrument and form. |
| 11. | I
consent to the filing of the Technical Report with any stock exchange and other regulatory
authority and any publication by them for regulatory purposes, including electronic publication
in the public company files on their websites accessible by the public, of the Technical
Report. |
| 12. | As
of the date of this certificate, to the best of my knowledge, information and belief,
the Technical Report contains all scientific and technical information that is required
to be disclosed to make the Technical Report not misleading. |
Dated
this 9th day of September, 2014.
/s/ Deepak Malhotra
|
|
|
Signature
of Qualified Person |
|
Deepak Malhotra
|
|
|
Signature
of Qualified Person |
|
September 9, 2014 | vi | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
TABLE
OF CONTENTS
Section Title Page
No.
1. SUMMARY |
1 |
1.1 Introduction |
1 |
1.2 Geology
and Mineralization |
1 |
1.3 Drilling
and Exploration Status |
2 |
1.4 Environmental
and Permitting |
2 |
1.4.1 Environmental
Liabilities |
2 |
1.4.2 Permits |
3 |
1.5 Operational
Permits and Jurisdictions |
3 |
1.6 Infrastructure |
3 |
1.7 Mineral
Processing and Metallurgical Testing |
4 |
1.8 Mineral
Resources |
4 |
1.9 Interpretations
and Conclusions |
6 |
1.9.1 Environmental |
6 |
1.9.2 Geology
and Deposit Type |
6 |
1.9.3 Exploration,
Drilling, and Analytical |
6 |
1.9.4 Quality
Assurance/Quality Control |
6 |
1.9.5 Mineral
Processing and Metallurgical Testing |
6 |
1.9.6 Data
Verification |
7 |
1.9.7 Resource |
7 |
1.10 Recommendations |
7 |
1.10.1 Scoping
Study |
7 |
1.10.2 Geologic
Model |
7 |
1.10.3 Metallurgical
Study |
8 |
1.10.4 Geotechnical
and Hydrogeological Study |
8 |
1.10.5 Environmental
Permitting |
8 |
1.10.6 Exploration
Program |
8 |
1.10.7 Budget |
9 |
2. INTRODUCTION
AND TERMS OF REFERENCE |
10 |
2.1.1 Details
of Inspection |
10 |
2.1.2 Sources
of Information |
11 |
2.2 Effective
Date |
11 |
2.3 Units
of Measure |
11 |
3. RELIANCE
ON OTHER EXPERTS |
14 |
4. PROPERTY
DESCRIPTION AND LOCATION |
14 |
4.1 Property
Location |
14 |
4.2 Agreements
and Royalties |
15 |
4.2.1 Barrick
Agreement |
15 |
4.2.2 Agreements |
15 |
4.3 Environmental
Liabilities |
16 |
September 9, 2014 | i | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
4.4 Permits |
17 |
5. ACCESSIBILITY,
CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY |
19 |
5.1 Accessibility |
19 |
5.2 Climate |
20 |
5.3 Local
Resources and Infrastructure |
20 |
5.4 Physiography |
20 |
5.5 Water
Rights |
21 |
6. HISTORY |
21 |
7. GEOLOGICAL
SETTING AND MINERALIZATION |
22 |
7.1 Regional
Geologic Setting |
22 |
7.2 Local
Geologic Setting |
24 |
7.3 Lithologic
Units |
26 |
7.3.1 Quaternary
Alluvium (Qal) |
26 |
7.3.2 Limerick
Greenstone: |
26 |
7.3.3 Rochester
Rhyolite |
26 |
7.3.4 Upper
Rhyolite |
27 |
7.3.5 Siltstone |
27 |
7.3.6 WT
Rhyolite |
27 |
7.3.7 Breccia/Conglomerate |
28 |
7.3.8 Intrusive
rocks |
28 |
7.4 Mineralization
Style |
32 |
7.5 Alteration |
32 |
7.6 Geometry
of Mineralization |
34 |
8. DEPOSIT
TYPES |
35 |
9. EXPLORATION |
35 |
9.1 Pre-MGC
Exploration |
36 |
9.2 MGC
Exploration |
36 |
9.2.1 Surface
Geochemistry |
36 |
9.2.2 Rock
Samples |
36 |
9.2.3 Geological
Mapping |
36 |
9.2.4 Geophysical
Surveys |
36 |
9.3 Barrick
Exploration |
37 |
9.4 Exploration
Targets |
37 |
10. DRILLING |
37 |
10.1 Type
and Extent |
37 |
10.2 Drilling
Procedures and Conditions |
40 |
10.2.1 Reverse
Circulation Drilling |
40 |
10.2.1 Diamond
Core Drilling |
40 |
10.2.2 Drill
Collar and Downhole Surveys |
41 |
10.3 Drilling
Interpretations and Results |
41 |
September 9, 2014 | ii | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
11. SAMPLE
PREPARATION, ANALYSES, AND SECURITY |
42 |
11.1 Sampling
Method and Approach |
42 |
11.2 Midway
Sampling Preparation, Analyses, and Security |
42 |
11.2.1 Sample
Chain of Custody |
42 |
11.2.2 Diamond
Drilling Core Sampling |
43 |
11.2.3 Sampling
of Reverse Circulation Cuttings |
43 |
11.2.4 Sample
Preparation and Assay Procedures |
44 |
11.2.5 Standards,
Duplicates, and Blanks |
46 |
11.3 Barrick
Sampling Preparation, Analyses, and Security |
52 |
11.3.1 Sample
Chain of Custody |
52 |
11.3.2 Diamond
Drilling Core Sampling |
52 |
11.3.3 Sampling
of Reverse Circulation Cuttings |
53 |
11.3.4 Sample
Preparation and Assay Procedures |
53 |
11.3.5 Standards,
Duplicates and Blanks |
54 |
11.3.6 Check
Assay Programs |
59 |
11.3.7 Twin
Hole Comparisons |
59 |
11.3.8 Exploration
drilling 2014 |
60 |
11.4 Data
Entry Validation Controls |
60 |
11.5 Opinion
on Adequacy |
61 |
12. DATA
VERIFICATION |
61 |
12.1 Validation
of Database |
63 |
12.1.1 Received
Data |
63 |
12.1.2 Mechanical
Audit |
63 |
12.1.3 Overlaps |
64 |
12.1.4 Gaps,
Non-numeric Assay Values, and Negative numbers |
65 |
12.1.5 Survey
Data |
66 |
12.1.6 Table
Depth Consistency |
66 |
12.1.7 Assay
Certificates |
66 |
13. MINERAL
PROCESSING AND METALLURGICAL TESTING |
66 |
13.1 Mineral
Processing and Metallurgical Testing |
66 |
13.2 Column
Leach Tests |
67 |
13.3 Bottle
Roll Tests |
67 |
13.4 Gravity
Tests |
67 |
13.5 Bond
Mill Work Index |
68 |
13.6 Historical
Test Work |
68 |
13.7 Summary
& Recommendations |
69 |
14. MINERAL
RESOURCE ESTIMATE |
69 |
14.1 Block
Model Physical Limits |
69 |
14.2 Data
Used for the Grade Estimation |
70 |
14.3 Data |
70 |
14.4 Geologic
Model |
70 |
14.5 Exploratory
Data Analysis |
73 |
September 9, 2014 | iii | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
14.6 Compositing |
80 |
14.7 Capping |
81 |
14.8 Grade
Shell Generation |
83 |
14.9 Variography |
84 |
14.10 Estimation
Methodology |
90 |
14.11 Mineral
Resource Classification |
90 |
14.12 Density |
91 |
14.13 Model
Validation |
91 |
14.13.1 Statistical
Model Comparison |
91 |
14.14 Swath
Plots |
94 |
14.15 Mineral
Resources |
96 |
14.16 Pit-constrained
Mineral Resource |
97 |
15. ADJACENT
PROPERTIES |
98 |
15.1 Coeur
Rochester |
98 |
15.2 Lincoln
Hill Property |
98 |
15.3 Moonlight
Project |
98 |
16. OTHER
RELEVANT DATA AND INFORMATION |
99 |
17. INTERPRETATION
AND CONCLUSIONS |
99 |
17.1 Environmental |
99 |
17.2 Geology
and Deposit Type |
99 |
17.3 Exploration,
Drilling, and Analytical |
99 |
17.4 Quality
Assurance/Quality Control |
99 |
17.5 Mineral
Processing and Metallurgical Testing |
100 |
17.6 Data
Verification |
100 |
17.7 Resource |
100 |
18. RECOMMENDATIONS |
100 |
18.1 Geologic
Model |
101 |
18.2 Metallurgical
Study |
101 |
18.3 Geotechnical
and Hydrogeological Study |
101 |
18.4 Exploration
Program |
101 |
18.5 Budget |
102 |
19. REFERENCES |
104 |
September 9, 2014 | iv | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
LIST
OF FIGURES
Figure Page
Figure
7-1 Geology of the Humboldt Range |
23 |
Figure
7-2 Bedrock Geology Map of the Spring Valley Project |
25 |
Figure
7-3 Conceptual Cross Section of Lithologies (Modified from Chadwick, 2012) |
30 |
Figure
7-4 Coarse Gold from SV08-435 Drilled in the Big Leap Zone |
33 |
Figure
7-5 Coarse Gold from SV08-410 at 310’ |
34 |
Figure
7-6 Coarse Gold from SV08-436 Drilled at the South End of the Big Leap |
34 |
Figure
10-1 Spring Valley Project Area Drill Hole Location Map |
39 |
Figure
11-1 2006 – 2007 Blank Results |
47 |
Figure
11-2 2006 – 2007 Standard MEG055 Results |
48 |
Figure
11-3 2006 – 2007 Standard MEG160 Results |
48 |
Figure
11-4 2006 – 2007 Standard MEG200 Results |
49 |
Figure
11-5 2007 Standard MEG067 Results |
49 |
Figure
11-6 2007 Standard MEG045 Results |
50 |
Figure
11-7 2007 – 2008 Standard OREAS102 Results |
51 |
Figure
11-8 2007 – 2008 Standard OREAS342 Results |
51 |
Figure
11-9 Barrick 2011 Blank Results |
55 |
Figure
11-10 Barrick 2011 Standard OxC72 Results |
56 |
Figure
11-11 Barrick 2011 Standard OxG83 Results |
56 |
Figure
11-12 Barrick 2011 Standard OxJ68 Results |
57 |
Figure
11-13 Barrick 2011 Standard SE29 Results |
57 |
Figure
11-14 Barrick 2011 Standard SE44 Results |
58 |
Figure
11-15 Barrick 2011 Standard SG40 Results |
58 |
Figure
11-16 Barrick 2011 Standard Si42 Results |
59 |
Figure
14-1 Fault and Estimation Domain Plan View |
72 |
Figure
14-2 Oblique View of Filtered Gold Values (Au≥0.002 oz/t) Limerick Trend Encircled |
74 |
Figure
14-3 Gold (oz/t) Cumulative Frequency Plots by Lithology |
76 |
Figure
14-4 Gold (oz/t) Box Plots by Lithology |
77 |
Figure
14-5 Histogram of Samples within 5 Intervals (~25 ft) of a ≥ 0.022 oz/t Assay Interval |
79 |
Figure
14-6 Samples above Cutoff within Range of Vein (>0.022 oz/t) Assay Interval |
80 |
Figure
14-7 Composite Study |
81 |
Figure
14-8 CFP Analysis by Domain |
82 |
Figure
14-9 Grade Boundary |
83 |
Figure
14-10 Example Variograms, 2100-2300 domain |
85 |
Figure
14-11 Example Variograms, 3100-3300 domain |
86 |
Figure
14-12 Example Variograms, 3100-3300 domains |
87 |
Figure
14-13 Example Variograms, 4000-5000 domains |
88 |
Figure
14-14 Example Variograms, 4000-5000 domains |
89 |
Figure
14-15 Model Comparison Cumulative Frequency Plot (OK red, ID blue, NN Black) |
94 |
Figure
14-16 Elevation Swath Model |
95 |
September 9, 2014 | v | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
LIST
OF TABLES
Table Page
Table
1-1 Mineral Resource Statement for the Spring Valley Project |
5 |
Table
1-2 Proposed Budget |
9 |
Table
4-1 Summary of Spring Valley Property Agreements |
16 |
Table
4-2 Agency Permits and Authorizations* |
18 |
Table
10-1 Summary of Drilling Campaigns in the Spring Valley Resource Area |
38 |
Table
12-1 Mechanical Audit Errors |
64 |
Table
12-2 Database Overlap Summary |
65 |
Table
12-3 Interval Import Summary |
65 |
Table
12-4 Certificate Validation Errors |
66 |
Table
13-1 Composites |
67 |
Table
14-1 Lithologic Groups |
75 |
Table
14-2 Spring Valley Project Sample Assay Gold Descriptive Statistics (oz/t) |
75 |
Table
14-3 Descriptive Statistics ≥0.002 oz/t Au by Lithology |
76 |
Table
14-4 Capped Value by Domain |
81 |
Table
14-5 Capped 10-foot Composite Statistics ≥0.001 oz/t |
83 |
Table
14-6 Domain Variogram Parameters |
89 |
Table
14-7 Estimation Parameters |
90 |
Table
14-8 Rock Type Density Summary |
91 |
Table
14-9 Descriptive Statistics for Domains 2100-2300 (Limb) |
91 |
Table
14-10 Descriptive Statistics for Domains 3100-3300 (Main) |
93 |
Table
14-11 Descriptive Statistics for Domains 4000 and 5000 (West 1 and West 2) |
93 |
Table
14-12 Mineral Resource Statement for the Spring Valley Project, |
97 |
Table
14-13 Pit-Constrained Resource for selected Whittle Shells. |
97 |
Table
18-1 Proposed Budget |
103 |
LIST
OF Appendices
September 9, 2014 | vi | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Gustavson
Associates, LLC (“Gustavson”) was retained by Midway Gold Corp. (“Midway”) to update the National Instrument
43-101 (“NI 43-101”) Technical Report on Resources, Spring Valley Project (the “Project” or the “Spring
Valley Project”) in Pershing County, Nevada, dated May 24, 2011 prepared by Gustavson. This
report presents the results of the mineral resource estimate based on all available technical data and information as of August
1, 2014.
This
report is prepared to fulfill Midway’s disclosure requirements to the Toronto Stock Exchange. It should be noted that this
report is independent of and distict from any parallel resource estimates or scoping studies being carried out by the Spring Valley
Venture, or by Barrick as operator.
This
report has been prepared in accordance with the Canadian Securities Administrators (“CSA”) NI 43-101 and in compliance
with the disclosure and reporting requirements
set forth in Companion Policy 43-101CP and Form 43-101F1 (June 2011). Resources have been classified in accordance with standards
as defined by the Canadian Institute of
Mining, Metallurgy and Petroleum (“CIM”) “CIM Definition Standards - For Mineral Resources and Mineral Reserves”,
prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council on December 17, 2010.
| 1.2 | Geology
and Mineralization |
The
Spring Valley property is located in the Humboldt Range, a north-south oriented, up-thrown fault block (horst) bounded on the
west by the Humboldt River valley and on the east by Buena Vista Valley. Quaternary alluvial deposits fill the intermontane basins
and alluvial valleys.
The
bedrock geology of the Humboldt range within 20 miles of the Spring Valley property consists of Triassic shales and carbonate
rocks, a thick sequence of Permo-Triassic intermediate to felsic volcanic rocks, and a north-south trending belt of Tertiary volcanic
rocks. Triassic leucogranite and Cretaceous granodiorite locally intrude the Permo-Triassic volcanic package.
The
known Spring Valley mineral system is beneath an intermontane basin filled with post-mineral Quaternary alluvial deposits, thereby
masking the bedrock geology immediately overlying or containing the mineralization. At the scale of the Spring Valley property
position, the bedrock units are distributed in blocks aligned approximately north-south. The bedrock geology is dominated by the
Limerick Formation in the western one-third of the property, the Rochester Formation in the central and eastern half of the property,
and the Natchez Pass Limestone in the extreme northeast corner of the property. At this scale, the geology is segmented
by a number of faults: a relatively older north to northeast trending set including the West Spring Valley, Limerick and Black
Ridge Faults; and, northwest trending, steeply dipping cross faults with oblique or lateral offsets that displace the older north
to northeast trending faults. The West Spring Valley fault is interpreted as a steeply east dipping normal fault, whereas the
Black Ridge and Limerick faults are interpreted as moderate to high angle normal faults with westerly dips. The Limerick fault
may be listric in character, with flattening dip at depth. East-west and northeasterly faults are also mapped, but are not part
of the predominant fabric on the property.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 1.3 | Drilling
and Exploration Status |
Exploration
work carried out by Midway and Barrick Gold Exploration Inc., a wholly owned subsidiary of Barrick Gold Corporation (“Barrick”)
on the Spring Valley property has been and continues to be dominated by drilling. Midway and Barrick have also conducted extensive
geological mapping and surface geochemical sampling campaigns in the surrounding hills and have conducted limited geophysical
surveys in the basin to guide drilling. Early exploration work by previous operators included small-scale surface geochemical
and geophysical surveys and drilling.
The
Spring Valley resource area has been drilled with a total of 672 holes totaling 603,731 feet, including 531 Reverse Circulation
(RC) drill holes totaling 428,500 feet and 141 diamond core holes totaling 173,011 feet.
| 1.4 | Environmental
and Permitting |
| 1.4.1 | Environmental
Liabilities |
Environmental
liabilities at the property are limited to the construction of drill pads and roads, drilling, closure and reclamation of the
currently permitted drilling program. This program is bonded with NDEP and the BLM. As work plans detailing the work, and reclamation
cost estimates utilizing the states Standardized Reclamation Cost Estimator (SRCE), or equivalent, are required, the bond is considered
adequate for the liability. Other potential environmental liabilities include the inadvertent impact of an unidentified cultural
site or the allowance of invasion by a weedy species. The potential for impacting a cultural site or allowing the invasion of
weedy species is considered low given the requirements for cultural surveys and the BLM’s Standard Operating Procedures
(SOPs), which include general protection procedures to preclude weedy invasion. The potential for impacts to rangeland, impacts
due to a hazardous or solid waste release, impact to water resources or impacts to a wetland is considered extremely low given
the permitting requirements, SOPs, and Barrick’s operating practices.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
According
to the NDOM, all mining operations in Nevada are required to have:
| · | Legitimate
mining claims registered with the BLM, or ownership or control of mineral rights on private
land; |
| · | An
approved Plan of Operation from the BLM, the U.S. Forest Service or the Nevada Division
of Environmental Protection, (NDEP); and |
| · | Necessary
state permits. |
| 1.5 | Operational
Permits and Jurisdictions |
Midway
and Barrick exploration activities are permitted under a Plan of Operations (PoO) approved by the BLM in July 2007, and Reclamation
Permit No. 0258 approved by the NDEP in December 2006. All of the permits and approvals, and the bonds, were transferred to Barrick
in 2009. A new or amended PoO will be required if disturbances beyond the currently approved 75 acres are necessary.
The
Spring Valley property is accessed by Nevada State Route (SR) 50 (also known as Lovelock-Unionville Road), which extends eastward
from US Interstate 80 at exit 119. SR 50 also serves as the main access to the Rochester Mine until a turnoff at Spring Valley
Pass. Once in Spring Valley, access to the various parts of the Property is by dirt road. Alternatively, access is possible from
the Buena Vista Valley to the east through Spring Valley Canyon on SR 50.
The
nearest town to the Property is Lovelock, Nevada, which is situated along US Interstate 80 and hosts a population of 1,895 (Census
2012 data). The nearest city is Reno, Nevada, approximately 120 miles to the southwest, which hosts a population of 231,027 (Census
2012 data).
Power
lines cross the property and ground water is abundant as evidenced by artesian wells in the main area of drilling. There is an
adequate workforce in the surrounding region and the town of Lovelock. Northern Nevada is home to many gold mining operations
with all associated support and supplies.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 1.7 | Mineral
Processing and Metallurgical Testing |
Barrick
contracted with McClelland labs in Sparks, Nevada to complete a detailed metallurgical testing program on thirteen drill core
composites from Spring Valley. The composite samples representing four rock types and three oxidation states were tested by column
leaching, bottle roll and gravity methods. The composites were from a total of 355 split diamond drill core intervals, each interval
representing approximately five feet. Grades of the composite samples ranged from 0.21 grams per tonne (gpt) to 5.07 gpt (0.006
oz/t to 0.148 oz/t); nine of the samples had grades less than 1.03 gpt (0.030 oz/t). The reported gold grades were determined
by metallic screen fire assays. Column leach tests simulating heap leach conditions were conducted over 260 days, and yielded
gold recoveries from 46% to 98% for all materials tested.
In
December 2005, samples from eight drill holes were submitted for metallurgical testing at McClelland Laboratories Inc. in Sparks,
Nevada by Midway. Select samples were combined to produce 19 composites for Gravity Recoverable Gold (GRG) testing. The composite
samples were sequentially milled to progressively finer sizes, the resulting material (or gravity tailings after the first grind
size) was processed using a laboratory Nelson Concentrator. The resulting concentrate and tailings were then assayed to determine
gravity recovery of gold versus grind size. Testing in this way provides an estimate of the maximum recoverable gold values by
gravity concentration. Recoveries for nine composites with head grades greater than 0.030 oz/st gold were between 67.5% and 96.5%.
The
test samples described above are considered representative of the mineralization of the deposit as a whole. As of the date of
this report, there are no processing factors that could have a significant effect on potential extraction.
Zachary
J. Black, SME-RM, an associate Resource Geologist with Gustavson is responsible for the estimation of the mineral resource herein.
Mr. Black is a qualified person as defined by NI 43-101 and is independent of Midway and of Barrick. Gustavson estimated the mineral
resource for the Spring Valley Project from drill-hole data, using controls from the main rock types and implicit grade shells
with an Ordinary Kriging (“OK”) algorithm.
Gustavson
received the exploration drill hole database on September 20, 2013. Drill hole data, including collar coordinates, down hole surveys,
sample assay intervals, and geologic logs, were provided in a secure Microsoft Access database and as CSV files. The database
is managed by Barrick under the Exploration, Development, and Joint Operating Agreement. A small number of additional drillholes
have been completed by Barrick since the database was closed, but the results have not yet been received by Midway or by Gustavson.
Gustavson does not expect that a few additional infill drillholes will materially impact the resource estimation.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
present database has been updated to include the remaining 2010, 2011, 2012, and the available 2013 drill holes, which were completed
since the previous mineral resource estimate. The drill hole database contains gold assay analytical information for 112,858 sample
intervals from core, RC, and mud rotary drilling methods.
A
visual evaluation of the assay and geologic data in cross-section and plan view, in conjunction with the proximity analysis, reveals
that while it is difficult to substantiate lithologic or alteration based domaining, there exists a significant spatial correlation
between the higher grade samples and disseminated mineralization. It is Gustavson’s opinion that the statistical analyses
justify the use of a grade boundary at +0.003 oz/t, as a proxy for the mineralized alteration selvages and vein zones, and domaining
the resource within this grade boundary is both reasonable and appropriate.
The
mineral resource estimate for the Spring Valley Project is summarized in Table 1-1. This mineral resource estimate includes all
drill data available to Midway and Gustavson as of the effective date of this report, and has been independently estimated by
Gustavson. Mineral resources are not mineral reserves and may be materially affected by economic, environmental, permitting, legal,
socio-economic, marketing, political, or other factors. In Table 1-1, mineral resources are reported above a +0.006 oz/t Au cut-off,
assuming the three year trailing average gold price of US$1,537 per ounce. This cut-off reflects the potential economic, marketing,
and other issues relevant to an open pit mining scenario based on a carbon recovery process following cyanide heap leaching. Gustavson
cautions that economic viability can only be demonstrated through prefeasibility or feasibility studies.
Table
1-1 Mineral Resource Statement for the Spring Valley Project
Pershing
County, Nevada, Gustavson Associates, LLC, August 1, 2014
|
Measured |
Indicated |
Measured + Indicated |
Inferred |
Cutoff |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
oz/t |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
0.008 |
60,100 |
0.023 |
1,410 |
116,400 |
0.021 |
2,400 |
176,600 |
0.022 |
3,810 |
46,400 |
0.019 |
880 |
0.006 |
75,300 |
0.020 |
1,510 |
147,300 |
0.018 |
2,610 |
222,600 |
0.019 |
4,120 |
62,100 |
0.016 |
990 |
*0.004 |
91,500 |
0.017 |
1,590 |
179,100 |
0.016 |
2,780 |
270,600 |
0.016 |
4,370 |
78,400 |
0.014 |
1,070 |
Note
* based on discussion of cutoff presented above, material below 0.006 oz/t is not considered resource for the purposes of
this report. 0.004 oz/t cutoff is presented for informational purposes and for consistency with prior reports. Note: Values may
not sum due to rounding.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 1.9 | Interpretations
and Conclusions |
There
are no known environmental liabilities on the Spring Valley project.
| 1.9.2 | Geology
and Deposit Type |
The
Spring Valley deposit is hosted within structurally prepared zones within a porphyry intrusion and overlying felsic volcanic rocks.
Overall deposit geometry suggests that primary mineralizing fluid flow is related to steeply dipping, N20E to N30E- trending,
deep-seated faults. Mineral emplacement is localized within structural preparation along these faults, as well as on contact horizons,
deformation structures, and within permissive host rocks within a local graben /basin. The mineralization is associated with relatively
thin, crystalline quartz veins that have large alteration selvages. In areas of dense quartz veining, the alteration selvages
coalesce into regions of pervasively altered and veined rock.
| 1.9.3 | Exploration,
Drilling, and Analytical |
The
property has been explored using a variety of techniques including mapping, geophysical surveys, and geochemical sampling. The
Spring Valley resource area has been drilled with a total of 672 holes totaling 603,731 feet, including 531 Reverse Circulation
(RC) drill holes totaling 428,500 feet and 141 diamond core holes totaling 173,011 feet.
All
drill intervals were first assayed by a 30 gram fire assay and mineralized intervals have been systematically re-assayed using
MSFA. Where available, the MSFA numbers were utilized in the resource estimate. The project data is stored in a secure database.
Assay and geology data have been checked for accuracy for all programs prior to 2009, and spot checked in the Barrick programs
from 2009 through 2013.
Gustavson
is of the opinion that exploration activities, drilling, and analytical procedures are being conducted in manner that meets or
exceeds industry best practice.
| 1.9.4 | Quality
Assurance/Quality Control |
Gustavson
has reviewed the QA/QC assay programs and believes the programs provide adequate confidence in the data. Sample standard failures
and the samples associated with erroneous blank samples have been reanalyzed prior to the completion of this Report and the results
are comparable to the original assay.
| 1.9.5 | Mineral
Processing and Metallurgical Testing |
The
Spring Valley project mineralized material is potentially amenable to both gravity and heap leach recovery methods.
September 9, 2014 | 6 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
test samples described in the Mineral Processing and Metallurgical testing item of this Technical Report are representative of
the mineralization of the deposit as a whole. As of the date of this report, there are no processing factors that could have a
significant effect on potential extraction.
Gustavson
received original assay certificates in pdf and comma delimited format for all samples included in the current drill hole database.
A random manual check of 1,210 samples within the database against the original certificate revealed 3 total errors. The results
of the analysis indicate that the data imported into the database matches the certificates 99.7% of the time with a confidence
interval of ± 0.56% at a 95% confidence level. Gustavson considers the database adequate for estimation of mineral resource
estimation purposes.
Within
the main portion of the deposit, drill density is within 150 foot spacing, which is adequate to describe measured and indicated
resources, given the variogram and the relative continuity of the resource estimate. However, some areas of the deposit are still
in need of infill holes. Closer spaced drilling in these areas will be required to further upgrade the resource classification.
Additionally there are areas of the project which are open to expansion of extents of mineralization.
Gustavson
recommends the following program to advance the Spring Valley Project towards eventual development.
Gustavson
recommends that Midway complete a scoping study (PEA) on the project to evaluate proposed mining and processing methodologies,
and economics associated with the implementation of various crushing, grinding, heap leach, and gravity recovery circuit combinations.
The PEA should be completed to 43-101 standards and designed to support Midway’s reporting requirements as an independent
issuer.
Gustavson
understands that Barrick is undertaking systematic relogging of the drilling including trace element analysis in an effort to
refine the geologic and alteration model for the deposit. Gustavson recommends that Midway maintain a level of engagement in the
relogging parameters and process in order to facilitate information transfer and share interpretive insights. The results of this
logging should be considered in any resource updates moving forward.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 1.10.3 | Metallurgical
Study |
Existing
metallurgical studies have established that gold at Spring Valley is amenable to cyanidation and to gravity separation. Gustavson
recommends that additional metallurgical studies be completed to evaluate the mix of mineral processing methods best suited for
the mineralization at Spring Valley. The evaluation should include the study of conventional cyanidation at different crush sizes,
as well as the impact of gravity concentration at different steps in the process stream. Testwork should include samples of mineralization
of various alteration and oxidation types.
| 1.10.4 | Geotechnical
and Hydrogeological Study |
Gustavson
recommends that the existing Golder pit slope analysis and geotechnical studies be reviewed to identify critical geotechnical
areas and to define a geotechnical exploration program to support final design parameters. The Golder geotechnical studies should
form the basis for mine design for the proposed PEA. Additionally, Gustavson recommends that the preliminary hydrogeological studies
be reviewed to determine critical path to support project water needs, secure remaining required water rights, and address potential
pit dewatering concerns. This information should be included in the support of a proposed PEA.
| 1.10.5 | Environmental
Permitting |
Gustavson
recommends that continued work towards meeting the requirements of the State of Nevada to permit a mine on public land should
include in the short term:
- Finalize
Class III Cultural Survey report;
- Endangered
Species Act (ESA) and other biological requirements; and
- Ongoing
collection and evaluation of environmental baseline data.
- Installation
and monitoring of groundwater monitoring as recommended for hydrologic models and baseline studies.
| 1.10.6 | Exploration
Program |
Continued
exploration diamond core drilling should be targeted in three areas within and adjacent to the immediate mineral resource area:
- Infill
and step out drilling at the furthest south extent of drilling near the flanks of Gold Mountain.
- Exploration
drilling along the Wabash fault that bisects the main Spring Valley resource. Extensions of this fault to both the east and west
of the main resource have the potential to host mineralization that has not yet been tested. Placer gold is common along the trace
of the fault to the SE.
- Infill
and step out drilling targeting the lower Felsic Porphyry unit at depth in the main resource area, to the northern extents of
the project and along the eastern Limerick fault.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
- Limited
infill drilling, primarily in those areas where substantial in-pit inferred mineralization has been identified, or in areas of
high potential for pit expansion.
Under
the terms of the Joint Venture Agreement, Barrick has assumed the responsibility for the exploration and development activities.
The Spring Valley Joint Venture has a project development budget which includes most of the recommendations listed above. The
SVV project is operated by Barrick, with 75% of the costs borne by Barrick, and the remainder by Midway Gold.
Table
1-2 presents the 2014-2015 development and exploration budgets for the Spring Valley Venture, as well as budget line items for
Midway based on the recommendations described above.
Table
1-2 Proposed Budget
Midway
Studies & Reports |
Costs
(US$) |
Metallurgical
Studies |
120,000 |
Geotechnical
Review |
30,000 |
Hydrogeologic
Review |
30,000 |
Scoping
Study (PEA) |
150,000 |
Midway
Reporting Subtotal |
$330,000 |
Spring
Valley Venture PreFeasibility Study |
Hydrology
Studies & Test Wells |
2,125,000 |
Geochemistry,
including ARD |
982,000 |
Geotechnical
|
500,000 |
Metallurgy |
1,070,000 |
Mine
Planning and Site Design |
700,000 |
Permit
Development |
150,000 |
Archaeological,
Community & Related |
285,000 |
Environmental
Studies |
875,000 |
Land
& Water Rights |
3,100,000 |
Condemnation
Drilling |
500,000 |
Subtotal |
$
10,287,000 |
Midway
Share at 25% |
$
2,571,750 |
Spring
Valley Venture Exploration |
Exploration
Program 2014 - 2015 |
12,000,000 |
Subtotal |
$
12,000,000 |
Midway
Share at 25% |
$
3,000,000 |
Total
Budget (Midway Share) |
Total
Budget |
$5,901,750 |
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 2. | INTRODUCTION
AND TERMS OF REFERENCE |
Gustavson
Associates, LLC (Gustavson) was commissioned by Midway Gold Corp. (Midway) to prepare an update to the Mineral Resources and resulting
Technical Report on Resources for the Spring Valley Project (or the Project) site in Pershing County, Nevada. The purpose of this
report is to present the findings of the resource estimation in accordance with Canadian National Instrument 43-101 Standards
of Disclosure for Mineral Projects (NI 43-101), NI 43-101 Form F1, and Canadian Institute of Mining, Metallurgy and Petroleum
(CIM) “Best Practices and Reporting Guidelines.” This Technical Report is part of an ongoing effort by Midway to develop
the Spring Valley Project.
This
report is prepared to fulfill Midway’s disclosure requirements to the Toronto Stock Exchange. It should be noted that this
report is independent of and distict from any parallel resource estimates or scoping studies being carried out by the Spring Valley
Venture, or by Barrick as operator.
Items
15 through 22 of Form 43-101F1 (Mineral Reserve Estimates, Mining Methods, Recovery Methods, Project Infrastructure, Market Studies
and Contracts, Environmental Studies, Permitting and Social or Community Impact, Capital and Operating Costs, and Economic Analysis,
respectively) are not required for a Technical Report on Resources and are not included in this report.
| 2.1 | Qualifications
of Consultants |
The
Qualified Persons (QP’s) responsible for this report are:
- William
J. Crowl, R.G., QP MMSA, Vice President, Mining, Gustavson is a QP as defined by NI 43-101 and is responsible for Sections 1-8,
and 15-19.
| · | Zachary
J. Black, SME-RM, Associate Resource Geologist, Gustavson is a QP as defined by NI 43-101
and is responsible for Sections 9-12 and 14. |
- Deepak
Malhotra, PhD., SME-RM, President, RDi is a QP as defined by NI 43-101 and is responsible for Section 13.
| 2.1.1 | Details
of Inspection |
Gustavson
Associates representatives William J. Crowl and Zachary J. Black visited the Spring Valley Project on October 24, 2013. While
on site, Mr. Crowl and Mr. Black conducted general geologic field reconnaissance and discussed in detail core drilling operations,
sampling, and transportation with Barrick and Midway personnel. Mr. Crowl visited the Spring Valley project again on June 18th,
2014 and directly observed drilling and sampling practices at the project site. For the 2014 drill program, core splitting and
sampling are being carried out at Barrick’s Turquoise Ridge Facility. Accordingly, Mr. Crowl visited Turquoise Ridge on
June 17th 2014 to directly
observe the splitting and sampling procedures being employed for the 2014 Spring Valley drill program.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 2.1.2 | Sources
of Information |
The
information, opinions, conclusions, and estimates presented in this report are based on the following:
- Information
and technical data provided by Midway;
- Observations
made by Qualified Persons on site;
- Review
and assessment of previous investigations;
- Assumptions,
conditions, and qualifications as set forth in the report; and
- Review
and assessment of data, reports, and conclusions from other consulting organizations and previous property owners.
Gustavson
sourced information from referenced documents as cited in the text and those summarized in Section 19, References, of this report.
This
report was completed based upon information available at the effective date of this report, August 1, 2014.
Unless
stated otherwise, all measurements reported here are in imperial units, tons are short tons, and currencies are expressed in constant
US dollars. Precious metal content is reported in troy ounces per short ton (oz/t).
September 9, 2014 | 11 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Common
Units
Above mean sea level |
amsl |
Cubic foot |
feet3 |
Cubic inch |
in3 |
Cubic yard |
yd3 |
Day |
d |
Degree |
° |
Degrees Fahrenheit |
°F |
Foot |
feet |
Gallon |
gal |
Gallons per minute (US) |
gpm |
Grams per tonne |
g/t |
Greater than |
> |
Hectare |
ha |
Hour |
h |
Inch |
" |
Kilo (thousand) |
k |
Less than |
< |
Micrometre (micron) |
µm |
Milligram |
mg |
Ounces per ton |
oz/t |
Parts per billion |
ppb |
Parts per million |
ppm |
Percent |
% |
Pound(s) |
lb |
Short ton (2,000 lb) |
st |
Short ton (US) |
t |
Specific gravity |
SG |
Square foot |
feet2 |
Square inch |
in2 |
Yard |
yd |
| |
September 9, 2014 | 12 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Metric
Conversion Factors (divided by)
Short tons to tonnes |
1.10231 |
Pounds to tonnes |
2204.62 |
Ounces (Troy) to tonnes |
32,150 |
Ounces (Troy) to kilograms |
32.150 |
Ounces (Troy) to grams |
0.03215 |
Ounces (Troy)/short ton to grams/tonne |
0.02917 |
Acres to hectares |
2.47105 |
Miles to kilometres |
0.62137 |
Feet
to metres |
3.28084 |
|
Abbreviations
American Society for Testing and Materials |
ASTM |
Absolute Relative Difference |
ARD |
Atomic Absorption Spectrometry |
AAS |
Bureau of Land Management |
BLM |
Canadian Institute of Mining and Metallurgy |
CIM |
Diamond Drill |
DD |
Global Positioning System |
GPS |
Internal Rate of Return |
IRR |
Metallic Screen Fire Assay |
MSFA |
National Instrument 43-101 |
NI 43-101 |
Nearest Neighbour |
NN |
Net Smelter Royalty |
NSR |
Net Present Value |
NPV |
Probability Assigned Constrained Krigging |
PACK |
Reverse Circulation |
RC/RCV |
Rock Quality Designation |
RQD |
Selective
Mining Unit |
SMU |
Universal
Transverse Mercator |
UTM |
|
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 3. | RELIANCE
ON OTHER EXPERTS |
During
preparation of this report, Gustavson fully relied upon information provided by Midway regarding property ownership, mineral tenure,
permitting, and environmental liabilities as described in Items 4 and 5 of this report.
Midway
relies upon the accuracy and completeness of data provided by Barrick pursuant to the Exploration, Development, and Joint Operating
Agreement dated March 9, 2009.
Based
on the review conducted in 2011 and the further efforts documented in this report, Gustavson considers that the data provided
by Barrick is sufficient for the purposes of a resource estimate.
| 4. | PROPERTY
DESCRIPTION AND LOCATION |
The
Spring Valley property is located in Pershing County, Nevada 20 miles northeast of Lovelock within the Spring Valley Mining District.
It is situated three miles north of the Rochester silver-gold mine in the Humboldt Range. The Spring Valley deposit lays 100%
within the Spring Valley area of interest and is within the control of Midway and Barrick’s joint venture (the “Spring
Valley Venture”). The Participants directly control approximately 10,140 gross acres on 642 contiguous unpatented lode and
placer mining claims plus 1,550 gross acres of fee land.
The
Property is located on the USGS Lovelock 1:100,000 scale topographic map and the USGS Rochester and Fitting 1:24,000 scale, 7.5
minute series quadrangle maps. It is centered at latitude 40° 20’ North and longitude 118° 08’ West. The principal
area of known mineralization on the Spring Valley property is located within the southern half of Sections 34 and 35, Township
29 North, Range 34 East (T29N, R34E) Mount Diablo Base and Meridian (MDBM). Mineralization also occurs at the Limerick target
in Section 4, Township 28 North, Range 34 East (T28N, R34E) MDBM; at the Golden Gate target in Section 8, T28N, R34E; and at the
American Canyon target in Section 14, T28N, R34E.
Unpatented
mining claims are kept active through payment of a maintenance fee due on 31 August of each year. A complete list of claims is
presented in Appendix A.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 4.2 | Agreements
and Royalties |
On
March 9, 2009, Midway and Barrick Gold Exploration Inc., a wholly owned subsidiary of Barrick Gold Corporation (“Barrick”),
signed an agreement for the exploration, development, and eventual joint operating activities at the project. On Nov 15, 2013,
Barrick completed the $38 million expenditure required to earn a 70% interest at Spring Valley. As of Feb 24, 2014, the companies
completed formation of the joint venture (the “Spring Valley Venture”) with Barrick holding a 70% interest and Midway
holding a 30% interest.
On
July 9, 2014, Midway elected to have Barrick carry Midway to a production decision and arrange financing for Midway’s share
of mine construction expenses. The carrying and financing costs plus interest are to be recouped by Barrick from 90% of Midway’s
share of production once production has been established. Accordingly, upon completion of construction of the mine, Barrick will
earn an additional 5% (75% total interest.)
The
property agreements for the Spring Valley project are summarized in the table below. The table documents the nature of title,
obligations to retain the property, royalties, payments, and expiration dates of the agreements. Claims are unpatented mining
claims on land administered by the Bureau of Land Management.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
4-1 Summary of Spring Valley Property Agreements
Ownership |
Agreement Date |
Expiry |
Owner (source) |
Claims |
Gold Royalty |
Approximate Acreage* |
Payments |
Optioned |
10/30/2006 |
10/30/2016 (may be extended ) |
Chabino |
2 |
3% NSR |
42 |
$6,000/yr |
Optioned |
6/10/2007 |
6/10/2017 purchase complete |
G. Duffy |
2 |
- |
42 |
$12,000/yr plus periodic option payments |
Optioned |
4/25/2006 |
4/25/2016 (may be extended) |
L. Duffy |
12 |
3% NSR |
248 |
$36,000/yr |
Optioned |
7/17/2006 |
7/17/2016 (may be extended) |
Rowe and Stoeberl |
46 |
3% NSR |
951 |
$20,000/yr |
Owned |
9/10/2003 |
- |
Midway Gold (Echo Bay) |
28 |
2% NSR |
579 |
- |
Owned |
1/25/2006 |
- |
Midway Gold (Coeur) |
98 |
3% NSR |
2087 |
- |
Owned |
7/3/2003, amended 8/15/2003 |
- |
Midway Gold (Schmidt) |
44 |
2-7% NSR |
909 |
- |
Owned |
- |
- |
Midway Gold |
410 |
- |
8452 |
- |
Owned |
5/5/2006 |
- |
Midway Gold (Seymork) |
Fee |
3% NSR |
320/770 |
- |
Owned |
9/7/2005 |
- |
Midway Gold (NLRC) |
Fee |
- |
544/0 |
- |
Owned |
8/29/2006 |
- |
Midway Gold (Sentman) |
Fee |
- |
40/10 |
- |
Leased |
12/2/2010 |
12/2/2016 (may be extended) |
Barrick Agreement with Third Party |
Fee |
3% NSR |
0/544 |
$300,000/yr |
0/76
0/120 |
Owned |
10/01/2010 |
|
Barrick Agreement with Third Party |
Fee |
- |
76/0 |
- |
|
|
|
|
|
|
*Surface/Mineral |
|
| 4.3 | Environmental
Liabilities |
Environmental
liabilities at the property are limited to the construction of drill pads and roads, drilling, closure and reclamation of the
currently permitted drilling program. This program is bonded with NDEP and the BLM. As work plans detailing the work, and reclamation
cost estimates utilizing the states Standardized Reclamation Cost Estimator (SRCE), or equivalent, are required, the bond is considered
adequate for the liability. Other potential environmental liabilities include the inadvertent impact of an unidentified cultural
site or the allowance of invasion by a weedy species. The potential for impacting a cultural site or allowing the invasion of
weedy species is considered low given the requirements for cultural surveys and the BLM’s Standard Operating Procedures
(SOPs), which include general protection procedures to preclude weedy invasion. The potential for impacts to rangeland, impacts
due to a hazardous or solid waste release, impact to water resources or impacts to a wetland is considered extremely low given
the permitting requirements, SOPs, and Barrick’s operating practices.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
According
to the NDOM, all mining operations in Nevada are required to have:
| · | Legitimate
mining claims registered with the BLM, or ownership or control of mineral rights on private
land; |
| · | An
approved Plan of Operation from the BLM, the U.S. Forest Service or the Nevada Division
of Environmental Protection, (NDEP); and |
| · | Necessary
state permits. |
Spring
Valley Venture exploration activities are permitted under a Plan of Operations (POO) approved by the BLM in July 2007, and Reclamation
Permit No. 0258 approved by the NDEP in December 2006. All of permits and approvals, and the bonds, were transferred to Barrick
in 2009. A new or amended POO will be required if disturbances beyond the currently approved 75 acres are necessary.
The
latest NDEP/BLM Annual site inspection was conducted July 8th, 2014. No issues were reported by the agencies.
Water
for exploration drilling is supplied by two water wells drilled under a temporary grant of water rights from the Nevada Division
of Water Resources. The current 180 Day permit is in effect as of April 17th, 2014.
Table
4-2 provides a general summary of permits required by Federal State and Local government entities for mining or milling operations
in the state of Nevada.
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Table
4-2 Agency Permits and Authorizations*
Permit/Authorization |
Agency |
Federal |
|
Activities in Wetlands and/or Waters of the U.S. |
U.S. Army Corps of Engineers |
Amended Exploration Plan of Operations |
BLM |
Endangered Species Act Compliance |
U.S. Fish and Wildlife Service |
Mine Plan of Operations |
BLM |
Notice of Commencement of Operation |
Northern Nevada Mine Safety & Health Administration |
Purchase, Transport, or Storage of Explosives |
Bureau of Alcohol, Tobacco and Firearms, for Northern Nevada |
Right of Way for Electrical Transmission on BLM-Administered Land |
BLM |
Road Access (R/W) on BLM Administered Land |
BLM |
Use of BLM-Administered Land |
BLM |
State |
|
Air Quality Operating Permit |
Nevada Division of Environmental Protection, Bureau of Air Quality |
Annual Status and Production Report |
Nevada Division of Minerals |
Approval to Operate a Solid Waste System |
Nevada Division of Environmental Protection, Bureau of Waste Management |
Department of Transportation |
Nevada Department of Transportation |
Fire and Line Safety |
Nevada State Fire Marshall |
Ground Water Permit |
Nevada Division of Environmental Protection, Bureau of Water Pollution Control |
Hazardous Materials Permit |
Nevada State Fire Marshal Division, Hazardous Materials Section |
Historic Preservation |
Nevada Historic Preservation Office |
Mine Registry Forms |
Nevada Division of Minerals |
Industrial Artificial Pond Permit |
Nevada Division of Wildlife |
Mineral Exploration Hole Plugging |
Nevada Division of Water Resources |
Mining Reclamation Permit |
Nevada Division of Environmental Protection – Bureau of Mining Regulation and Reclamation, Reclamation Branch |
Notification of Opening & Closing Mines |
Nevada State Mine Inspector |
Permit to Appropriate the Public Waters |
Nevada Division of Water Resources |
Permit for Occupancy (Encroachment Permit) |
Nevada Department of Transportation |
Permit for Sanitation Facilities |
Nevada State Health Division Bureau of Health Protection Services |
Protection of Wildlife |
Nevada Division of Wildlife |
Stormwater General Permit |
Nevada Division of Environmental Protection, Bureau of Water Pollution Control |
Surface Disturbance Permit |
Nevada Division of Environmental Protection – Bureau of Air Pollution Control |
Water Pollution Control Permit |
Nevada Division of Environmental Protection – Bureau of Mining, Regulation and Reclamation, Regulation Branch |
Local** |
|
Building Permit |
|
General Plan |
|
Special Use Permit |
|
*
Permits listed are general in nature; all items listed are not necessarily specific to Midway or Barrick.
**
Local permits presented are general in nature.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Barrick
continues to move forward with conducting environmental studies on the project property. Gustavson knows of no other significant
factors or risks that may affect access, title, or the ability to perform work on the Spring Valley property.
| 5. | ACCESSIBILITY,
CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY |
The
Spring Valley property is accessed by Nevada State Route (SR) 50 (also known as Lovelock-Unionville Road), which extends eastward
from US Interstate 80 at exit 119. SR 50 also serves as the main access to the Rochester Mine until a turnoff at Spring Valley
Pass. Once in Spring Valley, access to the various parts of the Property is by dirt road. Alternatively, access is possible from
the Buena Vista Valley to the east through Spring Valley Canyon on SR 50.
The
nearest town to the Property is Lovelock, Nevada, which is situated along US Interstate 80 and hosts a population of 1,895 (Census
2012 data). The nearest city is Reno, Nevada, approximately 120 miles to the southwest, which hosts a population of 231,027 (Census
2012 data).
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
climate in the Spring Valley area is typical for northwestern Nevada. Average monthly high temperatures range from 82 to 94°
F in the summer and 42° to 55° F in the winter. Yearly rainfall averages approximately 6 inches with nearly uniform distribution
from October through June. July, August, and September are typically hot and dry months; December, January, and February receive
the bulk of the snowfall (Desert Research Institute, 2010).
Exploration
and operations are possible year round, although snow levels in winter and wet conditions in late autumn and in spring can make
travel on dirt and gravel roads difficult.
| 5.3 | Local
Resources and Infrastructure |
Power
lines cross the property and ground water is abundant as evidenced by artesian wells in the main area of drilling. There is year-round
road access directly to the project via Nevada state highway 50. The interstate (I80) runs approximately 10 miles west of the
property. There is an adequate workforce in the surrounding region and the town of Lovelock. Northern Nevada is home to many gold
mining operations with all associated support and supplies.
Coeur
Mining’s Rochester operation is situated on adjacent claims to the south of the Spring Valley Project and has the necessary
infrastructure to support their operation on site. Electrical power is supplied to the site by a public utility company (NV Energy)
via a 69KV overhead transmission line.
Emergency
services, including law enforcement, are located approximately 25 miles from the site in Lovelock. Regulatory and other off-site
services are located throughout the county and region and are typical of standard United States agencies.The Spring Valley Venture
controls sufficient surface rights within Spring Valley and the lower Buena Vista basin to support an open pit operation and the
associated waste rock disposal and heap leach facility.
Spring
Valley is a large (approximately two square miles) intermontane basin in the central part of the Humboldt Range. The valley floor
slopes gently to the east and ephemeral streams on its surface drain into Spring Valley Canyon at its eastern margin. Elevation
at the Property ranges from 5,120 to 6,040 feet above mean sea level and the topographic relief can be characterized as gentle
to moderate.
Vegetation
is typical of the Basin and Range physiographic province. The Property is covered by sagebrush, grass, and various other desert
shrubs.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Proposed
mining operations at Spring Valley will require significant water rights for dust reduction, exploration drilling, process water,
as well as potable water for domestic use and site facilities. The Spring Valley Venture has identified properties within
the Buena Vista Valley with sufficient water rights to support mine operations and is in the process of securing such rights.
Regulatory approval will be required to modify the water rights for use by the mine.
Gold,
silver, lead, mercury, copper, antimony, and sericite-pyrophyllite have been produced from the Spring Valley Mining District since
its discovery in 1868 (Tingley, 1992). Placer gold was discovered in 1875 and was worked extensively during the period 1880-1890
(Johnson, 1977). The placers are said to have been the most productive in Nevada: placer production from Spring Valley and American
Canyons were estimated at $10 million (Ransome, 1909). The gravel deposits were up to 100 feet in depth or more and the gold recovered
from them was generally coarse, though fine-grained gold was present and likely more abundant (Johnson, 1977).
The
Wabash lead-silver mine, located on the eastern margin of the Property, was worked during the period of 1935 to 1938. Production
recorded for 1938 was 170 tons of ore containing 1 oz gold, 6,774 oz silver, 651 lb copper, and 9,514 lb lead (Johnson, 1977).
Mineralization at the Wabash mine consists of argentiferous galena and sphalerite in the matrix of intensely brecciated rocks
in a fault zone.
Modern
exploration at Spring Valley began in 1996 by Kennecott. Four reverse circulation (RC) holes, totaling 2,220 feet, were drilled
across the basin in an effort to discover the source of the placer gold in Spring Valley Canyon. Hole KSV-2 intersected 40 feet
grading 0.023 oz/t gold at the southeast edge of what is now known as the Pond Zone.
Echo
Bay acquired the property in 2000 and drilled ESV-2, intersecting 145 feet grading 0.075 oz/t gold. Subsequent drilling by Echo
Bay focused on step-out drilling from ESV-2, coring the mineralized zone and drilling exploration targets to the northwest. During
the 2001-2002 drill campaign, Echo Bay completed 19 RC holes totaling 10,940 feet and 2 diamond drill (DDH) holes totaling 1,653
feet.
There
were no historic mineral resources estimated for the Spring Valley project prior to Midway’s acquisition of the property.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 7. | GEOLOGICAL
SETTING AND MINERALIZATION |
| 7.1 | Regional
Geologic Setting |
The
Spring Valley property is located in the Humboldt Range, a north-south oriented, up-thrown fault block (horst) bounded on the
west by the Humboldt River valley and on the east by Buena Vista Valley. Quaternary alluvial deposits fill the intermontane basins
and alluvial valleys.
The
bedrock geology of the Humboldt range within 20 miles of the Spring Valley property consists of Triassic shales and carbonate
rocks, a thick sequence of Permo-Triassic intermediate to felsic volcanic rocks, and a north-south trending belt of Tertiary volcanic
rocks (Figure 7-1). Triassic leucogranite and Cretaceous granodiorite locally intrude the Permo-Triassic volcanic package.
The
oldest rocks exposed in the central Humboldt Range are a series of Permo-Triassic volcanic and metavolcanic rocks, named the Koipato
Group, that include, from oldest to youngest, the Limerick Greenstone, the Rochester Rhyolite, the Weaver Rhyolite, and their
intrusive equivalents (rhyolite porphyry and leucogranite). The Koipato Group is interpreted as representing bimodal volcanism
in a back-arc setting that was subsequently accreted onto the continental margin (LeLacheur et al., 2009). Contacts of the Koipato
Group with the Triassic Natchez Pass and Prida Limestones to the north, west and on the eastern flank of the range are all fault
contacts. Cretaceous granodiorite locally intruded the Permo-Triassic units. Quaternary alluvial and colluvial deposits unconformably
overlie the older bedrock units. North-south, north-northwest, and north-northeast normal faults are the dominant structural features
in the region.
The
Humboldt Range in the region surrounding the Spring Valley project is well-mineralized. Styles of mineralization in the central
Humboldt Range include base and precious metal vein and vein-stockwork mineralization and Tertiary sediment-hosted gold deposits.
Examples of vein/vein stockwork systems include Spring Valley, Rochester, Nevada Packard, the Unionville district and the Dun
Glen district. Examples of Tertiary sediment-hosted gold mineralization in the region include Florida Canyon, Relief Canyon, Standard,
and Willard.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_002.jpg)
Figure
7-1 Geology of the Humboldt Range
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 7.2 | Local
Geologic Setting |
The
known Spring Valley mineral system is beneath an intermontane basin filled with post-mineral Quaternary alluvial deposits, thereby
masking the bedrock geology immediately overlying or containing the mineralization. At the scale of the Spring Valley property
position, the bedrock units are distributed in blocks aligned approximately north-south. The bedrock geology is dominated by the
Limerick Formation in the western one-third of the property, the Rochester Formation in the central and eastern half of the property,
and the Natchez Pass Limestone in the extreme northeast corner of the property (Figure 7-2). At this scale, the geology is segmented
by a number of faults: a relatively older north to northeast trending set including the West Spring Valley, Limerick and Black
Ridge Faults; and, northwest trending, steeply dipping cross faults with oblique or lateral offsets that displace the older north
to northeast trending faults. The West Spring Valley fault is interpreted as a steeply east dipping normal fault, whereas the
Black Ridge and Limerick faults are interpreted as moderate to high angle normal faults with westerly dips. The Limerick fault
may be listric in character, with flattening dip at depth. East-west and northeasterly faults are also mapped, but are not part
of the predominant fabric on the property.
The
bedrock geology beneath the Quaternary alluvial cover has been interpreted and compiled by Midway and other workers based on drill
hole information. The surficial and subsurface bedrock geology within the Spring Valley intermontane basin is described below
as modified from Stiles (2008), LeLacheur et al. (2009), Neal (2004), and Neal & LeLacheur (2010).
The
Spring Valley basin is completely covered by between 50 and 375 feet of Quaternary alluvium, consisting mainly of valley fill
gravels and mud flow deposits (Figure 7-2). Bedrock geology beneath the alluvium features northeast trending felsic volcanic and
volcaniclastic rocks intruded by a feldspar porphyry intrusion at depth (Figure 7-2). The rhyolitic vent complex is interpreted
as coeval with development of the Rochester and/or Weaver Rhyolites, and is thereby believed to be Triassic in age.
Structures
in the alluvium covered area are interpreted primarily from logging of drill core and chips and, to a lesser degree, from geophysical
surveys, mapping and projection of faults observed in the hills surrounding the basin. Faults within the area covered by alluvium
are difficult to document, and are inferred from offsets in geologic units and/or trends of mineralized/altered zones and gold
grade distributions. Many faults appear to have complex, long-lived histories, and may have developed prior to or at the time
of emplacement of the Spring Valley rhyolitic vent complex, with reactivations during accretion of the Koipato Group, and Basin
and Range development. Many structures thereby appear syn- to late-mineral relative to alteration, mineralization and intrusion.
The lack of detail regarding the timing and location of significant structures impacts the modeling of the associated gold mineralization,
making determination of modeling domains difficult. Gustavson recommends a better understanding of the structural geology and
its impact on the distribution of mineralization, alteration and rock types be developed.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_003.jpg)
Figure
7-2 Bedrock Geology Map of the Spring Valley Project
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Lithologies
recognized under the alluvium covered area at the Spring Valley prospect are shown in conceptual cross section in Figure 7-3,
and are listed below.
| 7.3.1 | Quaternary
Alluvium (Qal) |
Alluvial
gravels with coarse angular clasts of local lithologies cover much of the intermontane basin. Gold mineralization, possibly placer
deposits, has been identified in places at the base of this unit but this mineralization is not included in the mineral resource
estimate.
| 7.3.2 | Limerick
Greenstone: |
The
Limerick Greenstone is comprised of a thick pile of intermediate to mafic flows and interbedded volcaniclastic sediments. The
base of the sequence is not exposed on the project. Felsic sills and dikes intrude the greenstone. Small felsic flow domes of
the Rochester Rhyolite are present in the upper part of the Limerick sequence.
At
Spring Valley, the Limerick Greenstone can be divided into an upper greywacke, andesite flows, and intrusive gabbro. The upper
greywacke is a fine- to coarse-grained, gray-green, chlorite-altered sandstone and mudstone. It has local cross bedding and variable
thicknesses of fining-upward sequences that are common to submarine turbidite deposits. Thin interbeds of boulder-to-cobble conglomerate
become increasingly common toward the top of the unit.
Underlying
the greywacke is dark gray to black, fine-grained, conchoidally fractured andesite. This andesite has local phenocrysts of hornblende
or plagioclase. Lithophysae are locally common. A dark green, fine grained mafic intrusive or gabbro is observed within the andesitic
sequence. These sills or dikes contain fine crystals of hornblende and/or pyroxene and, less commonly, plagioclase. No large bodies
of this unit have been identified to date.
All
of the greenstone rocks have a weak metamorphic overprint of gray sericite, gray-green chlorite, and minor green epidote. The
green coloration is caused by a strong chlorite content that may have formed as a regional propylitic alteration. Foliation is
poorly developed on the east side of Spring Valley. A more pronounced phyllitic foliation is observed on the west side of the
valley. Veins and local replacement pods of calcite are common and may be related to mineralization. Quartz-carbonate-chlorite
veining is common. The chlorite in the veins appears to be psuedomorphs after tourmaline. These veins do not usually carry gold.
The
Rochester Rhyolite is comprised of massive and flow banded rhyolite flows, flow domes, tuffs, tuffaceous sediments, and a coarse,
volcanic-derived breccia interpreted to be part of a diatreme
vent or eruption apron. All of these rocks have a high K-feldspar content. Felsic dikes and sills which are found throughout the
Rochester are thought to be intrusive equivalents to the volcanic flows.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Lithologies
identified from drilling within the Rochester at Spring Valley include:
The
upper rhyolite is a dark brown to orange, massive rhyolite. Small plagioclase phenocrysts, larger K-feldspar phenocrysts and,
rarely, small quartz phenocrysts are in a matrix of microcrystalline quartz and K-feldspar. Thin interbeds of tuffaceous sandstones
or conglomerate are common. K-feldspar spherulites (up to 3 cm across), lithic fragments (up to 1-2 cm across), and more rarely,
flow-banding are locally present within the unit. Perlitic cracks in the matrix were observed in thin section. In outcrop, this
unit is locally bleached, or moderately sericitized, and weathers to a burnt brown color. The top of the unit has been removed
by erosion, but in the area drilled the remaining unit is between 250 and 300 feet thick.
Directly
beneath the upper rhyolite is 50 to 150 feet of white to gray-brown thinly bedded siltstone or fine sandstone. It is locally cross-bedded
and has local graded bedding. Distribution of the siltstone in drill holes suggests it was deposited in a shallow lake or sea
that formed between flow events. The unit contains abundant fine grained, disseminated tourmaline needles.
The
WT rhyolite is a dark gray, dark purple or dark-brown banded rhyolite that is a distinctive marker horizon in parts of the project.
The unit is characterized by distinctive irregular and discontinuous flow banding that is often contorted. The flow banding forms
from layers of darker gray microcrystalline quartz and K-feldspar alternating with lighter gray layers of mostly microcrystalline
K-feldspar
The
planar orientation of the flow banding where measured in outcrop or seen in oriented core commonly strikes 170°-190° with
a near vertical dip. This is nearly perpendicular to the bedding orientation. In portions of the project area, the upper part
of this unit is a massive, gray, lithic rhyolite with barely visible flow banding. Near mineralized areas, the flow banding is
very pronounced where it is exaggerated by hydrothermal alteration.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 7.3.7 | Breccia/Conglomerate |
Underlying
the WT Rhyolite is a breccia with large rounded to subangular clasts in a matrix of smaller rock fragments. It is largely clast-supported,
and poorly sorted. Clasts include fragments of silicified limestone and a variety of intrusive and extrusive igneous rocks not
seen elsewhere in Spring Valley, as well as local units. In one area, the breccia cuts upward through the WT rhyolite and part
of the siltstone. Fragments of these rock types were observed deeper in the breccia. This feature was interpreted as a diatreme
and was the focus of drilling in the early stages of the project. Adjacent to the pipe, breccia is conformably overlain by the
WT rhyolite and is interpreted to be an eruption apron. The base of the breccia has been obliterated by intrusion of feldspar
porphyry.
The
Rochester Rhyolite and Limerick Greenstone were intruded by a shallow, hypabyssal intrusion that underlies the volcanic rocks
throughout most of Spring Valley. The intrusion has distinct feldspar phenocrysts in a fine-grained matrix and has been designated
as the feldspar porphyry (FP). The top of the intrusion is very irregular and includes apophyses that form sills and dikes that
extend into faults, and along contacts of the Limerick and Rochester rocks. The eastern margin of the intrusion formed a west-dipping
dike along the Limerick fault between the Limerick Greenstone and Rochester Rhyolite. This dike is strongly mineralized.
Hand
samples of the feldspar porphyry intrusion are dark brown or gray, with medium-grained, white feldspar phenocrysts in an aphanitic
matrix. Fine-grained, black biotite phenocrysts are also usually present. The feldspar porphyry has not been dated isotopically,
but textures and composition are similar to the Rochester Rhyolite. Other workers (Wallace, 1969) have mapped similar rocks in
surface outcrop as being coeval with the Rochester Rhyolite.
West
of Spring Valley a swarm of quartz feldspar porphyry sills cut the Limerick Greenstone. The sills have feldspar phenocrysts in
a greenish aphanitic groundmass and locally contain fine grained quartz phenocrysts. Many of the sills have sericitic alteration
and fine grained disseminated limonite after pyrite cubes. The sills consistently host sheeted quartz and quartz-tourmaline veins,
some with anomalous gold values. These sills are similar in character to the dike on the eastern margin of the deposit area that
grades into the feldspar porphyry in zones of strong alteration and gold mineralization.
Intrusive
bodies of biotite-feldspar porphyry and plagioclase porphyry are found north and east of Spring Valley. These are thought to be
related to the feldspar porphyry or Rochester Rhyolite, but are not mineralized nor well studied.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Several
small intrusive bodies east of the resource area are believed to be late-Cretaceous to Tertiary in age. Small exposures of hornblende
diorite, monzonite, and granodiorite are surrounded by hornfelsed volcanic rocks. The hornblende diorite is a fine-grained porphyritic
intrusion. The amphiboles are relatively unaltered and surrounded by a thin rim of ragged biotite. The amphiboles are intergrown
with plagioclase and pyroxene phenocrysts in a fine-grained groundmass of plagioclase microlites and K-feldspar, with accessory
magnetite. The magnetic signature of the hornblende diorite suggests that it could be over 800 meters across in the subsurface.
Hornblende diorite with strong yellow-green sericite alteration of the hornblende has been observed adjacent to feldspar porphyry
in deep drill samples on the east side of the gold occurrence.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure
7-3 Conceptual Cross Section of Lithologies (Modified from Chadwick, 2012)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure 7-3 (Continued), Legend
(Modified from Chadwick, 2012)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Quartz
veining, alteration, and gold mineralization at Spring Valley are irregularly distributed throughout the favorable host rock area.
Large intervals of dense quartz veining and pervasive alteration are interspersed with unmineralized and less strongly altered
country rock.
Gold
has been observed in quartz veins and in adjacent alteration selvages as disseminated free gold. Free gold is likely deposited
on fracture surfaces as well. Relatively coarse gold (30 to 90 microns) is common and can be observed as free gold liberated by
drilling (Figures 7-4 to 7-6). Most quartz veinlets are in the ½ inch to 4 inch size range with associated alteration selvages
of a few feet to tens of feet wide, varying to areas of dense quartz veining with pervasive alteration.
The
quartz veins are translucent, intergrown, coarse quartz crystals with few if any open spaces or fissures. In combination with
the relatively much larger alteration selvages, the character of these veins suggests a mesothermal or plutonic origin. Epithermal-style
veins have not been observed at Spring Valley.
Quartz
veins commonly contain pyrite (2-10%), less commonly galena and traces of sphalerite, magnetite and visible gold. From a limited
amount of trace element data collected from drill samples, there are low levels (a few tens of parts per million above background)
of anomalous lead, zinc, and arsenic associated with the gold mineralization.
There
are several distinct types of alteration at Spring Valley, as listed below:
| 1) | Pervasive
to fracture controlled quartz-sericite and quartz-sericite-pyrite alteration; |
| 2) | Strong
pervasive to fracture controlled argillic alteration; |
3)
Very strong clay and clay filled breccia formation;
| 4) | Pervasive
to fracture controlled iron-carbonate alteration; |
| 5) | Pervasive
to fracture-controlled hematite-quartz alteration. |
Gold
zones are most pronounced in the quartz-sericite-pyrite zones and in the pervasive argillic zones, although gold is found in every
alteration type.
Other
types of alteration include quartz-tourmaline, and potassic. Tourmaline occurs as disseminated
crystals in sediments and the diatreme breccia and as quartz-tourmaline veins. While gold is found in some
quartz-tourmaline veins, tourmaline generally is not correlated with the gold. Locally, the introduction or remobilization of
potassium is seen by fresh overgrowths on feldspar or fine secondary biotite. This potassic alteration style may be much more
extensive than
currently understood due to the high potassium content of the Rochester Rhyolite which may mask the introduction of new potassium
as an alteration product.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Carbonate
alteration of the Limerick Formation greenstone rocks was observed locally adjacent to the Limerick fault. No direct correlation
of carbonate alteration with gold mineralization was noted.
![](image_005.jpg)
Figure
7-4 Coarse Gold from SV08-435 Drilled in the Big Leap Zone
![](image_006.jpg)
Figure
7-5 Coarse Gold from SV08-410 at 310’
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_007.jpg)
Figure
7-6 Coarse Gold from SV08-436 Drilled at the South End of the Big Leap
| 7.6 | Geometry
of Mineralization |
The
gold mineralization forms an irregularly-shaped cap encompassing at least the upper portions of the feldspar porphyry and significant
volumes of the overlying or adjacent lithologies. The feldspar porphyry contact is very irregular. It was emplaced into a series
of faults and irregular contacts, and may have been displaced by later fault movements. Overall the mineralization
trends N20E to N30E and has the appearance of plunging 5-10 degrees to the north, though some of this plunge may be due to later
fault-block subsidence.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Mineralization
has been intercepted in drilling over a strike length of 7,500 feet and is open in both strike directions. Mineralization averages
about 2,300 feet wide. The shallowest mineralization is found at the top of bedrock beneath 50 feet of alluvium. Deep core drilling
has intersected gold mineralization as deep as 1,500 feet below the surface.
Quartz
vein strike and dip directions recorded from oriented drill core show several distinct orientations. The most prominent orientation
strikes N74E, dipping 60 degrees south. This principle vein orientation is oblique to the overall trend of the gold mineralization
at Spring Valley.
The
Spring Valley deposit is hosted within a porphyry intrusion and overlying felsic volcanic rocks. Gold mineralization was controlled
by steeply dipping, N20E to N30E- trending, deep-seated faults, as well as at contacts, deformation structures, and in permissive
host rocks within a local graben. The mineralization is associated with relatively thin, crystalline quartz veins that have large
alteration selvages. In areas of dense quartz veining, the alteration selvages coalesce into regions of pervasively altered and
veined rock.
There
are characteristics of the deposit which are similar to porphyry-hosted systems, but there are significant differences. There
are also characteristics similar to orogenic type gold deposits, possibly related to accretion of the Koipato group. (Neal &
LeLachleur, 2010). It is possible that there are multiple fluid phases influencing gold deposition in the system. Additional work
is needed to better define the source of mineralizing fluids and to refine the deposit model.
Gold
has been detected in gravels immediately above the bedrock-alluvium contact, indicating that placer gold deposits exist at and
above the paleo-bedrock surface. Gustavson has not included an evaluation of the alluvium hosted deposits in this report.
Exploration
work carried out by MGC and Barrick on the Spring Valley property has been and continues to be dominated by drilling. MGC and
Barrick have conducted extensive geological mapping and surface geochemical sampling campaigns in the surrounding hills and have
conducted limited geophysical surveys in the basin to guide drilling. Early exploration work by previous operators included small-scale
surface geochemical, geophysical surveys and drilling.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
Spring Valley property was explored by previous operators from 1996 to 2002. A summary of exploration drilling by Kennecott and
Echo Bay at Spring Valley is provided in the drilling summary, Item 11. In addition to drilling, Echo Bay used geophysics, surface
mapping, and rock chip sampling to explore the property and define drill targets.
MGC
has been active in all phases of exploration work on the Spring Valley property since acquiring the project in 2003, and prior
to consummating the exploration agreement with option to joint venture with Barrick Gold Exploration Inc. in early 2009. Surface
geochemistry, geologic mapping, and geophysical surveys have all helped to identify drill targets both proximal to the Spring
Valley discovery and in new exploration targets spread over the property.
| 9.2.1 | Surface
Geochemistry |
Rock
and soil sampling were carried out largely on the margins of the Spring Valley discovery area. An extensive program of over 5,000
soil samples was completed over the property in 2006 and 2007. Soils were sieved to the -10+80 mesh size fraction and assayed
at ALS Chemex for gold by standard fire assay methods on a 30g subsample and an additional 50 elements by aqua regia digestion
of a 0.5 gram subsample and ICP finish.
Rock
chip samples were taken during reconnaissance geological traverses, prospect mapping and target delineation. Between 2003 and
2009, MGC collected a total of 1540 rock samples. Rock chip samples were crushed to 70% passing 2mm with a nominal 250 gram split
pulverized to 85% passing 75μm, and assayed by the same procedures as the soil samples.
Geological
mapping was completed by MGC geologists and consultants covering six square miles surrounding the Spring Valley prospect area.
Detailed mapping of selected exploration target areas has also been carried out. Mapping helped clarify the property geological
setting, identified structural trends helpful in targeting drilling, and identified prospective areas for follow-up exploration
work.
Geophysical
surveys have included a CSAMT survey in 2003, and ground based gravity and magnetic surveys. J.L. Wright Geophysics of Spring
Creek, Nevada, interpreted the results.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Several
anomalous features were interpreted to represent silicified bodies at depth (Wright, 2004).
The
results of the geophysics, geologic mapping and geochemical surveys have helped to identify additional exploration targets on
the property peripheral to the Spring Valley resource..
Barrick
has conducted additional exploration programs at Spring Valley from 2009 to 2013. This has included additional geologic mapping,
collecting additional rock chip and soil samples as well as drilling.
Exploration
at Spring Valley has been directed at identifying areas for resource expansion and new resource discovery. Numerous exploration
targets outside of the resource area have been identified based on the results of soil and rock sampling, analysis of geophysical
data, and improved geological mapping. Many of these targets remain untested by drilling and an expansion of the current permit
boundary is needed to test them.
Examples
of exploration targets include:
| · | Mineralized
zones in the resource that can be projected to the north and northeast |
| · | Cross
structures cutting the resource area, such as the Wabash fault, that can be projected
to the East along creeks mined for placer gold |
| · | Soil
and rock chip gold anomalies on Gold Mountain, south of the resource |
| · | Soil
and rock chip gold anomalies along the Fitting fault |
| · | Buried
intrusive rocks east of the resource |
This
section provides a synopsis of all drilling conducted on the Spring Valley resource area. The Spring Valley resource area has
been drilled with a total of 672 holes totaling 603,731 feet, including 531 Reverse Circulation (RC) drill holes totaling 428,500
feet and 141 diamond core holes totaling 173,011 feet (see Table 10-1).
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
10-1 Summary of Drilling Campaigns in the Spring Valley Resource Area
Years |
Company |
Total
Drill Holes |
Total
Drill Footage |
Core
Holes |
Core
Footage** |
RC
Holes |
RC
Footage |
1996 |
Kennecott |
4 |
2,220 |
--- |
--- |
4 |
2,220 |
2001/2002 |
Echo
Bay |
21 |
12,593 |
2 |
1,653 |
19 |
10,940 |
2003/2004 |
Midway* |
30 |
23,679 |
2 |
1,769 |
28 |
21,910 |
2004 |
Midway |
18 |
4,695 |
--- |
--- |
18 |
4,695 |
2005 |
Midway |
100 |
51,249 |
21 |
10,088 |
79 |
41,160 |
2006 |
Midway |
70 |
60,206 |
7 |
10,376 |
63 |
49,830 |
2007 |
Midway |
142 |
102,356 |
9 |
12,521 |
133 |
89,835 |
2008 |
Midway |
63 |
61,945 |
5 |
8,034 |
58 |
52,460 |
2008 |
Barrick |
2 |
2,725 |
2 |
2,725 |
--- |
--- |
2009 |
Barrick |
32 |
39,842 |
8 |
9,722 |
24 |
27,395 |
2010 |
Barrick |
38 |
54,901 |
23 |
35,501 |
15 |
19,400 |
2011 |
Barrick |
44 |
60,501 |
12 |
16,925 |
32 |
43,575 |
2012 |
Barrick |
58 |
57,140 |
23 |
26,255 |
35 |
34,285 |
2013 |
Barrick |
50 |
68,148 |
27 |
37,442 |
23 |
33,015 |
TOTALS |
672 |
603,731 |
140 |
173,011 |
531 |
428,500 |
Note: Core
footage includes RC pre-collar footage
*
Managed by Global Geologic Services on Midway’s behalf
**
Diamond core drill hole totals are inclusive of pre-collar drilling length
Figure
10-1 shows the distribution of drilling in the Spring Valley resource area. Mineralization defined in the Spring Valley resource
area remains open along the N20E-S20W trend to the north, south and at depth.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_008.jpg)
Figure
10-1 Spring Valley Project Area Drill Hole Location Map
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 10.2 | Drilling
Procedures and Conditions |
The
following information about Midway drilling is extracted from LeLacheur et al. (2009).
Drilling
conditions at Spring Valley are optimal. Sites were constructed by digging a sump and, if necessary, by leveling a pad for the
drill. Only rarely was more significant construction required for drill sites. Almost all holes were collared in valley fill alluvium
with the water table generally between 20 to 30 feet below the surface. Water was present in nearly all holes and increased in
amount with depth. Bedrock was between 50 feet and 500 feet below the surface, but was generally between 200 and 300 feet deep.
The zones of highly fractured rock increased with clay and brecciated zones encountered near structures. Drilling at Spring Valley
was conducted predominantly (~80%) using RC methods.
| 10.2.1 | Reverse
Circulation Drilling |
RC
drilling conducted by Midway was carried out using tricone bits, first to get through clay layers in the alluvium, then to enhance
drill penetration below the water table. RC holes were drilled with 5 3/8 inch to 5 5/8 inch bits. The holes were generally cased
only in the top 20 feet.
The
majority of Barrick RC holes in areas with alluvial cover were drilled by mud rotary to the alluvium-bedrock interface. Thereafter,
RC drilling was carried out using tricone bits. The only exceptions to this approach were for holes sited on bedrock exposures,
where a down-hole hammer would be employed until significant water was encountered. RC holes were drilled with 53/8
inch to 55/8 inch bits.
| 10.2.1 | Diamond
Core Drilling |
Midway
diamond core holes were pre-collared with an RC drill to the alluvium-bedrock contact. The hole was then cased to the bedrock.
Core holes have largely been drilled with HQ (2½ inch) size core, though three holes were drilled with PQ (33/8
inch) size core in 2006. All 2008 core was oriented to enable the collection of structural data. Core recovery has in general
been good, but core loss increased when the rock was highly fractured and brecciated. In 2008, modifications to the use of drilling
muds resulted in significant improvements in recovery, especially in the highly fractured and brecciated zones.
Barrick
diamond drill holes were drilled by mud rotary to the alluvium-bedrock interface, and were cased to the bedrock. Thereafter, RC
drilling using a tricone bit was continued if the expected mineralized zone was at greater
depth. Otherwise, the diamond drill core tail was initiated at the bedrock interface. Core holes have largely been drilled with
HQ (2½ inch) size core, with reduction to NQ (17/8 inch) core as necessary.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 10.2.2 | Drill
Collar and Downhole Surveys |
Collar
locations from the 2006-2008 drill campaigns were surveyed by TNT Exploration (TNT) of Reno, Nevada using a survey quality GPS.
Collar locations from the 2004-2005 drill campaign originally surveyed by hand-held GPS were also surveyed by TNT in 2006. Most
pre-2004 collar locations (84%) were located by a surveyor while the remainder were surveyed by hand-held GPS (16%). Collar
locations for all of the Barrick (2009-2013) drilling campaigns were surveyed by a professional land surveyor, using a survey
quality GPS.
Significant
down-hole deviation has been observed in drilling at Spring Valley. Of holes drilled prior to 2004, only Echo Bay drill holes
ESV-14 to ESV-19 and core holes SVC-1 and SVC-2 were surveyed down-hole. Other Echo Bay holes were not surveyed. Between 2004
and 2006, holes deeper than 500 feet were generally surveyed down the hole. In 2008, all but two completed holes were surveyed
down-hole. International Directional Services (IDS) of Elko, Nevada and Major Directional Services of Salt Lake City, Utah were
contracted to do the down-hole surveys. All Barrick RC and diamond
drill holes were down-hole surveyed by IDS using a gyroscopic survey instrument.
| 10.3 | Drilling
Interpretations and Results |
Drilling
at the Spring Valley project has occurred over an area approximately 10,500 feet in a N20E-S20W direction and up to 3,000 feet
wide. The drilling has defined a gold resource 7,500 feet in strike length by 2,300 feet wide. Additional exploration and step-out
targets remain untested.
The
Spring Valley gold resource has a strong NNE linear trend. That trend can be projected to the NE into an area of NNE trending
faults with soil gold anomalies. This structural setting is similar to the main resource area and represents a significant target
for expansion of the resource. Drill testing to the north has been limited by the boundary of the drill permit.
Barrick
drilling to the south of the resource identified several smaller pods of gold mineralization. The largest of these is at the furthest
south extent of drilling near the flanks of Gold Mountain. Drill testing to the south has also been limited by the boundary of
the drill permit. This southern mineralization remains open with no drilling further south.
The
Wabash fault is a NW-SE trending fault that bisects the main Spring Valley resource. Extensions of this fault to both the east
and west of the main resource have the potential to host mineralization that has not yet been tested. Placer gold is common along
the trace of the fault to the SE. This target has not been tested to date.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
A
lower Felsic Porphyry unit is mineralized at depth in the main resource area. Additional infill drilling is needed throughout
the deposit to better define this deeper part of the resource. On the east side of the deposit, the host rock can be followed
from depth back to the surface. There is potential for the lower Felsic Porphyry to be found close to the surface in areas not
yet drilled.
| 11. | SAMPLE
PREPARATION, ANALYSES, AND SECURITY |
| 11.1 | Sampling
Method and Approach |
The
Spring Valley gold system contains appreciable free gold, at all gold grades of mineralization. This has been discussed and analyzed
in previous technical reports (Ristorcelli, 2003; Griffith and Ristorcelli, 2004; Wakefield and Seibel, 2006; Wakefield and Kuhl,
2008; LeLacheur et al., 2009; and Crowl, Hulse, Baker, Lane and Malhotra, 2011.
Midway
and Barrick have established the practice of first assaying all samples with a 30 gram fire assay and then all mineralized intervals
were systematically re-assayed using Metallic Screen Fire Assay (MSFA). Where available, the MSFA numbers were utilized in the
resource estimate. Appropriate QA/QC procedures were followed. The project data is stored in a secure database. Assay and geology
data have been checked for accuracy for all programs prior to 2009, and spot checked in the Barrick programs from 2009 through
the 3rd quarter of 2013.
Sampling
consultants F. Pitard in 2004 and Dr. Dominque François-Bongarçon in 2007, recommended analyzing very large samples
to address the nugget effect in sampling. Midway investigated the possibility of analyzing very large samples with ALS Chemex,
a commercial laboratory. The recommended sample size was too large for their sample preparation equipment so each sample would
have had to be sub-divided up to 5 times, with each subsample assayed separately. Potential for significant errors was considered
to be high. As a result, these recommendations were not implemented.
| 11.2 | Midway
Sampling Preparation, Analyses, and Security |
The
following information about Midway sampling is extracted from Wakefiled and Kuhl (2008) and LeLacheur et al. (2009).
| 11.2.1 | Sample
Chain of Custody |
At
the end of every drill shift, reverse circulation drill samples were taken from the project site by Midway geologists and
transported to a facility in Lovelock, Nevada where the samples were stored behind locked gates. Core drill samples were
stored at the same facility in separate bins. Periodically the samples were picked-up by ALS Chemex Labs and were transported
to their Winnemucca
facility for assay preparation. ALS Chemex is an ISO 9001:2000 and ISO 17025:2000 registered assay laboratory. For check assays,
coarse duplicates were also delivered to the Inspectorate American lab in Reno, Nevada for preparation and assay. Inspectorate
is an ISO 9001:2000 registered assay laboratory. No Midway personnel were utilized in sample preparation or assaying.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 11.2.2 | Diamond
Drilling Core Sampling |
Core
was recovered using a split tube assembly. Core was oriented and marked during the drilling using a Reflex® ACT electronic
orientation tool. Recovered core is placed in cardboard core boxes at the drill site with
the core run footage marked on wood blocks and the drill hole name and drill interval marked on the outside of the box. At least
once per day, a geologist retrieved the full core boxes and transported them to the Lovelock facility. The core was photographed,
logged, and sampled. The orientation of veins, fractures, and faults, as well as lithology, alteration, and geotechnical information
was recorded during logging.
Core
was sampled in intervals up to five feet while honoring geologic contacts where appropriate. The preferred sample interval was
five feet and this was also the specified maximum sample length. Geologic contacts or features were used as sample boundaries
wherever possible. The core was split with a saw if the rock was competent or the core was broken with a splitter if it was fractured
or friable. The sample was bagged in large micro-pore bags marked with the sample number and stored at the logging facility until
transport to the assay lab. Typically, ½ of the core sample was submitted for assay analysis and the remaining ½
stored for reference and other testing.
| 11.2.3 | Sampling
of Reverse Circulation Cuttings |
Reverse
Circulation (RC) drilling at Spring Valley was performed wet as the water table is typically 20 to 30 feet below the surface.
Water flow tests were conducted at least once a drill shift or more often when water flow was high or changed drastically. Water
flow varied but was typically 40 gallons per minute and has been measured as high as 150 gallons per minute, with the higher flows
generally found at the bottom of the hole. RC drilling was generally performed with a tricone bit to improve penetration rate
and quality of returns in the presence of ground water.
Cutting
samples were collected every 5 feet by a designated and trained sampler. Cuttings from each 5-foot sample interval were passed
through a cyclone and into a rotary splitter with 16 openings. The number of splitter openings was adjusted to maintain a roughly
constant sample size of 15 kg. The number of openings was recorded in the drill log. This number, together with the dry weight
for the interval at the assay laboratory, allowed an estimation of RC drilling recovery.
Drill samples were collected at five-foot intervals and the RC drill rods were 20 feet long. A representative split from the discharge
material was placed into a plastic RC chip tray for geological logging. The chip tray was marked with the drill hole name and
down-hole interval.
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RC
samples were collected in a five gallon bucket lined with large micro-pore bags marked with the sample number. The five gallon
bucket was placed inside a wide, low profile tub designed to catch any fine grained cuttings in the overflow water. At the conclusion
of a sample interval, the water in the bucket and tub was decanted, the overflow material in the tub was washed into the sample
bag in the bucket and the bag was sealed. A nominal sample weight of 15 kg was taken to aid in getting an accurate assay in a
coarse gold environment. In 2008, RC samples averaged 13.29 kg.
RC
samples were laid out on the ground at the drill site, allowed to drain, and brought back to the Lovelock facility at the end
of each drill shift by Midway Resources personnel. In Lovelock, samples were stored in secure bins until picked up and transported
to Winnemucca by the commercial laboratory for preparation and assaying.
| 11.2.4 | Sample
Preparation and Assay Procedures |
2003
Gold
assays for the 2003 drilling campaign were performed by BSI Inspectorate of Reno, Nevada using a standard FA with a two assay
ton sub-sample size and with the final concentration determined by AAS. Assays returning greater than 2.0 g/t (0.088 oz/t) gold
were re-assayed by fire assay with a gravimetric finish. Metallic screen gold fire assays were performed on most mineralized intervals
by ALS Chemex of Reno, Nevada.
ALS
Chemex performed metallic screen fire assays using a 100 micron screen (150 mesh) on one kilogram sub-samples of re-split coarse
reject. The assay of the coarse (+150 mesh) material was weight averaged with two assays of the fine (-150 mesh) material.
2004-2005
Several
labs assayed drill hole samples from the 2004-2005 drilling campaign. American Assay Laboratories (AAL) were used to assay holes
SV04-52 to SV04-66, Inspectorate were used to assay holes SV05-67c to SV05-79, and ALS Chemex to assay holes SV05-80 to SV05-166.
Coarse rejects of select samples were resubmitted to AAL and Inspectorate for metallic screen assay. All three of these laboratories
are located in Reno, Nevada. AAL is an ISO 17025 registered laboratory.
Sample
preparation at AAL and Inspectorate consisted of crushing the entire sample to pass a 10 mesh screen, riffle splitting to generate
a 250 gram sub-sample, and pulverizing this subsample to
pass a 150 mesh screen. ALS crushed the entire sample to 70% passing a 2 mm (10 mesh) screen, riffle split to generate a one kilogram
sub sample, and pulverized this subsample to 85% passing a 75 μm (200 mesh) screen.
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Mineralized
intervals were selected based upon visual examination of the cuttings or core by the logging geologist and assayed by metallic
screen fire assay using a 150 mesh screen on one kilogram sub-samples. All three labs used the same procedure where the assay
of the coarse (+150 mesh) material is weight averaged with two assays of the fine (-150 mesh) material. The remaining intervals
were assayed for gold by standard fire assay on 30 gram subsamples with the final concentration read by AAS. Samples reporting
greater than 10 g/t (0.292 oz/t) were re-assayed by fire assay and gravimetric finish.
2006-2007
In
2006 and 2007, ALS Chemex was the primary assay laboratory. ALS Chemex is an ISO 9001:2000 and ISO 17025:2000 registered assay
laboratory. Midway prepared a sample assay protocol for use with the 2007 drill program that describes the sample preparation,
assay, and QA/QC procedures to be used for RC and core drill samples
Sample
preparation and assay procedures remained the same as those used at the end of 2005, except that all samples were submitted for
30 gram fire assay, and those assaying greater than 0.2 g/t (0.006 oz/t) were re-assayed by one kg metallic screen fire assay.
Intervals with a high concentration of quartz veining or groupings of assays by fire assay greater than 0.1 g/t (0.003 oz/t) were
also frequently re-assayed by one kg metallic screen fire assay.
ALS
crushed the entire sample to 70% passing a 2 mm (10 mesh) screen, riffle split this material to generate a nominal 250 gram sub-sample,
and pulverized this sub sample to 85% passing a 75 μm (200 mesh) screen. All samples were assayed for gold by standard fire
assay on 30 gram sub-samples with the final concentration read by AAS. Samples reporting greater than 10 g/t (0.292 oz/t) were
re-assayed by fire assay and gravimetric finish. Samples reporting greater than 0.2 g/t (0.006 oz/t) gold by standard fire assay
were re-assayed by metallic screen fire assay. Metallic screen fire assays were performed on one kilogram subsamples using a 150
mesh screen. The assay of the coarse (+150 mesh) material is weight averaged with two assays of the fine (-150 mesh) material
to produce a final gold assay.
2008
ALS
Chemex was the primary assay laboratory. Sample preparation at ALS Chemex consisted of normal sample drying, then crushing the
entire sample to pass a 10 mesh screen, riffle splitting to generate a 250 gram sub-sample, and pulverizing this sub sample to
pass a 150 mesh screen. Pulps were then forwarded by ALS to their lab in Reno, NV where the assaying was performed.
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All
samples were submitted for standard fire assay on 30 gram sub-samples with the final concentration read by AAS. Samples reporting
greater than 10 g/t (0.292 oz/t) were re-assayed by fire assay and gravimetric finish. Mineralized zones assaying greater than
0.2 g/t (0.006 oz/t), and other intervals with high quartz vein concentration or other indicators of mineralization, were assayed
by one kg metallic screen fire assay.
ALS
Chemex performed metallic screen fire assays using a 100 micron screen (150 mesh) on one kilogram sub-samples of re-split coarse
reject. The assay of the coarse (+150 mesh) material was weight averaged with two assays of the fine (-150 mesh) material. Assays
were reported as a weighted average of the whole, and the weights and assays of the individual splits.
Assay
work in 2008 included 12,366 samples by 30 gram fire assay and 4,143 samples by metallic screened fire assay.
| 11.2.5 | Standards,
Duplicates, and Blanks |
2003
Midway
employed a QA/QC program of Standard Reference Materials (SRMs) and field duplicates inserted in the project sample stream at
a rate of approximately one control sample for every 20 project samples (no SRMs were submitted for holes SV-39 to SV-50).
The
Inspectorate gold assays are acceptably accurate for purposes of mineral resource estimation.
2004-2005
Midway
employed a QA/QC program that consisted of inserting Standard Reference Material (SRM) and coarse duplicates into the sample stream
at the rate of 1 in 25 project samples. This program was consistent for the three laboratories employed. The same SRM was used
as in the 2003 drilling campaign.
SRM
results for the 2004-2005 drilling campaign were biased high. AAL assays are biased high by an average of 9%, Inspectorate assays
were biased high by an average of 12%, and ALS assays were biased high by an average of 13%. The fact that all three laboratories
obtained results biased high by similar amounts suggested that the SRM value was incorrect. Therefore it was found that the AAL,
Inspectorate, and ALS gold assays are acceptably accurate for purposes of mineral resource estimation.
2006-2007
Midway
employed a QA/QC program that consisted of inserting blanks, SRMs, and coarse duplicates into the sample stream at the rate of
one in 25 project samples. Commercial SRMs from
Minerals Exploration and Environment Geochemistry (MEG) of Reno, Nevada and Ore Research & Exploration (Ore Research) of Bayswater,
North Australia were used to monitor gold assay accuracy. MEG assayed five splits of each SRM for gold at five separate assay
laboratories and assigned the recommended value to the average of the resulting 25 assays. Ore Research assayed four splits of
each SRM for gold at 16 separate assay laboratories and assigned the recommended value to the median value of the average values
from each of the 16 participating laboratories. One SRM provided by MEG was found to be unreliable and was eliminated after limited
use.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Blank
results (Figure 11-1) for gold by fire assay were found to be acceptable. A total of nine assays reported greater than 0.025 g/t
gold (0.001oz/t, five times the lower detection limit) out of the total 428 blank samples assayed during this period. Only two
of these were greater than 0.125 g/t (0.004 oz/t) gold.
![](image_034.jpg)
Figure
11-1 2006 – 2007 Blank Results
An
analysis of SRM results (Figures 11-2 through 11-6) by AMEC (2008) shows that the accuracy of ALS Chemex gold assays is acceptable.
A total of 780 SRMs were included with project samples from the 2006-2007 drill campaign. Approximately 88% of assay results fall
within ±10% of the recommended value for all SRMs assayed. No significant bias was observed in the SRM results. Assay results
falling more than 10% from the recommended value were flagged and remediated directly with ALS Chemex.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure
11-2 2006 – 2007 Standard MEG055 Results
Figure
11-3 2006 – 2007 Standard MEG160 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure
11-4 2006 – 2007 Standard MEG200 Results
Figure
11-5 2007 Standard MEG067 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure
11-6 2007 Standard MEG045 Results
Analysis
of the results from the coarse duplicates found a higher than normal level of variance between assays, likely because of the amount
of coarse gold in the samples. A total of 458 duplicates were assayed as part of the 2006-2007 drill campaign.
These
gold assays are acceptably accurate for purposes of mineral resource estimation.
2008
Midway
employed a QA/QC program that consisted of inserting blanks, SRMs and coarse duplicates into the sample stream at the rate of
one in 25 project samples. Coarse duplicates were also delivered to the Inspectorate American lab in Reno, NV for preparation
and assay.
Of
the total of 247 blanks analyzed in 2008, there were 6 failures for a failure rate of 2.4%. Only 2 samples were above the 0.025
level and only a single value exceeded the 0.125 level. In the case of failures above a 0.025 level, the sampling protocol requires
a rerun of the blanks and the surrounding assays. The results of the reruns found no significant error. There is no significant
carry-over contamination affecting the 2008 assays.
Commercial
SRMs from Ore Research (Figures 11-7 and 11-8) were used to monitor gold assay accuracy. Approximately 88% of assay results fell
within ±10% of the recommended value for all SRMs assayed. A total of 325 SRM’s were inserted into the assay stream
and a total of 34 failures were reported, 22 of which were deemed significant enough to require re-assay of a range of samples
above and below the failure. In each case the re-runs were comparable to the initial assays. Two SRM’s were utilized: a
“low-grade” value SRM at 1.02 g/t gold and a “high grade”
SRM at a 3.63 g/t gold value. The low-grade SRM was biased low by 9%, but the high grade SRM demonstrated no bias.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Figure
11-7 2007 – 2008 Standard OREAS102 Results
![](image_041.jpg)
Figure
11-8 2007 – 2008 Standard OREAS342 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
A
total of 146 duplicates were assayed as part of the 2008 drill program. Analysis of the results from the coarse duplicates found
a higher than normal level of variance between assays, consistent with the presence of coarse gold in the system.
| 11.3 | Barrick
Sampling Preparation, Analyses, and Security |
| 11.3.1 | Sample
Chain of Custody |
RC
samples are bagged, laid out on the ground at the drill site, allowed to drain, and are secured in sealed and locked bins at the
drill site, until picked up and transported to Winnemucca by the commercial laboratory for sample preparation and assaying.
Core
drill samples are transported from site and stored at the Lovelock facility in separate bins. Periodically the samples were picked-up
by ALS Chemex Labs and were transported to their Winnemucca facility for assay preparation.
| 11.3.2 | Diamond
Drilling Core Sampling |
In
the Barrick drilling programs, HQ drill core is recovered using a split tube assembly. Core is oriented and marked during the
drilling using a Reflex ACT electronic orientation tool. Recovered core is placed in cardboard core boxes at the drill site with
the core run footage marked on wood blocks and the drill hole name and drill interval marked on the outside of the box. At least
once per day, the full core boxes are retrieved and transported to the Lovelock facility. The core is photographed, logged and
marked for sample intervals. The orientation of veins, fractures and faults is recorded in drill logs as well as lithology, alteration
and geotechnical information.
Core
is sampled in intervals of at least two feet, and up to eight feet while honoring geologic contacts where appropriate. The preferred
sample interval was five feet. Geological contacts or features are used as sample boundaries wherever possible. Whole core is
submitted as assay samples for each sample interval. The sample is bagged in large micro-pore bags marked with the sample number
and securely stored at the logging facility until transported to the assay lab. Select two-foot sections of drill core are collected
as representative of specific alteration, mineralization and/or lithologic types, and are separately submitted for multi-element
analysis by ICP methods. Four to six inch pieces of core are marked and separately bagged for specific gravity measurement at
Chemex. Skeleton core is created by selecting a representative two to four inch piece of core within every five-foot interval.
The skeleton core is stored on-site at the Lovelock facility.
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| 11.3.3 | Sampling
of Reverse Circulation Cuttings |
RC
drilling at Spring Valley was performed wet as the water table is typically 20 to 30 feet below the surface. Water flow tests
are conducted at least once a drill shift or more often when water flow was high or changed drastically. Water flow varies but
is typically 40 gallons per minute and has been measured as high as 150 gallons per minute, with the higher flows generally found
at the bottom of the hole.
Cutting
samples are collected every 5 feet by a designated and trained sampler. Cuttings from each 5-foot sample interval are passed through
a cyclone and into a rotary splitter with 16 openings. The number of splitter openings is adjusted to maintain a roughly constant
sample size of 30 to 40 pounds. The number of openings is recorded in the drill log. This number, together with the dry weight
for the interval at the assay laboratory, allows an estimation of RC drilling recovery. Drill samples are collected at five-foot
intervals and the RC drill rods are 20 feet long. A representative split from the discharge material is placed into a plastic
RC chip tray for geological logging. The chip tray is marked with the drill hole name and down-hole interval.
RC
samples are collected in a five gallon bucket lined with large micro-pore bags marked with the sample number. The five gallon
buckets are placed inside a wide, low-profile tub designed to catch any fine grained cuttings in the overflow water. At the conclusion
of a sample interval, the water in the bucket and tub is decanted, and the overflow material in the tub is washed into the sample
bag in the bucket and the bag is sealed. A nominal sample weight of 30 to 40 pounds is taken to aid in getting an accurate assay
in a coarse gold environment.
RC
samples are laid out on the ground at the drill site, allowed to drain, and are secured in sealed bins at the drill site, until
picked up and transported to Winnemucca by the commercial laboratory for sample preparation and assaying.
| 11.3.4 | Sample
Preparation and Assay Procedures |
ALS
Chemex (ISO 9001:2000 and ISO 17025:2000 registered assay laboratory) was the primary assay laboratory. Sample preparation for
both core and RC samples at ALS Chemex followed the flow sheet used by Midway beginning in 2007, until August 2009. The earlier
process consisted of normal sample drying, then crushing the entire sample to pass a 10 mesh screen (>95% passing 10 mesh),
rotary splitting to generate a 250 gram sub-sample, and pulverizing this sub-sample to pass a 200 mesh screen (>85% passing
200 mesh). Pulps were then forwarded by ALS to their lab in Reno, NV where the assaying was performed.
All
samples were submitted for standard fire assay on 30 gram sub-samples with the final concentration read by AAS. Samples reporting
greater than 10 g/t (0.292 oz/t) were re-assayed by
fire assay and gravimetric finish. Mineralized zones assaying greater than 0.2 g/t (0.006 oz/t), and intervals with high quartz
vein concentration or other indicators of mineralization, were also assayed by one kilogram metallic screen fire assay.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
ALS
Chemex performed the metallic screen fire assays by generating a one kilogram pulp from a rotary split from the coarse reject,
which was pulverized to 75 microns (>80% passing <75 microns). Material not passing a 150 mesh screen (+150 mesh) was weighed
and assayed. Two 30 gram splits of fines (-150 mesh) were fire assayed for gold. Results were combined to calculate an assay for
the sample. ALS Chemex reported a weighted average grade assay for the sample, as well as the weights and assays of the individual
splits.
The
sample preparation flow sheet was adjusted beginning August 2009 to generate a larger pulp. The crushed samples were split by
rotary splitter to produce a 1,200 gram split which was then pulverized as in the previous scheme. The pulp was split into a 100
gram sample for analysis by fire assay with an AA finish. The remaining 1,100 gram master pulp was stored along with the coarse
reject for future use. Upon review of the initial assay results, project geologists would submit a list of samples for metallic
screen fire assay analysis to ALS Chemex. The master pulp was pulled from storage and split to generate a sample for the metallic
screen fire assay procedure, identical to that outlined above.
| 11.3.5 | Standards,
Duplicates and Blanks |
Barrick
employs a QA/QC program that consists of inserting blanks, SRMs and coarse duplicates into the sample stream at the rate of approximately
one in 25 project samples. Blanks were inserted as 1% of samples; SRMs – 2%; and duplicates – 1% of the total samples.
ALS Chemex routinely runs lab duplicates on 3.5% of the samples in each batch. The QA/QC program is run internal to Barrick in
its Elko office. Barrick reports a rigorous analysis of its evaluation of the results to Spring Valley project geologists on a
monthly basis, indicating standard and duplicate failures and other issues. The analysis includes plots of SRM and blank results
by batch number. The SRM results are compared to the certified value of the SRM, and to threshold values at two and three standard
deviations. Results between two and three standard deviations from the accepted value are classified as warnings, and are resubmitted
at the request of the onsite geologist. Samples exceeding three standard deviations are considered to have failed, and are immediately
resubmitted.
Gustavson
reviewed the monthly reports of Barrick and the 2011 QA/QC plots (Figures 11-9 through 11-16) and considers the QA/QC program
of industry standards for treatment of the SRM and blank data to be adequate. An analysis of duplicate data was not available,
and Gustavson did not compile this information.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_009.jpg)
Figure
11-9 Barrick 2011 Blank Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_010.jpg)
Figure
11-10 Barrick 2011 Standard OxC72 Results
![](image_011.jpg)
Figure
11-11 Barrick 2011 Standard OxG83 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_012.jpg)
Figure
11-12 Barrick 2011 Standard OxJ68 Results
![](image_013.jpg)
Figure
11-13 Barrick 2011 Standard SE29 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_014.jpg)
Figure
11-14 Barrick 2011 Standard SE44 Results
![](image_015.jpg)
Figure
11-15 Barrick 2011 Standard SG40 Results
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_016.jpg)
Figure
11-16 Barrick 2011 Standard Si42 Results
| 11.3.6 | Check
Assay Programs |
During
the 2009 – 2013 programs there were no check assay inter-laboratory programs reported by Barrick to Midway.
| 11.3.7 | Twin
Hole Comparisons |
In
2009, Barrick twinned diamond drill core with reverse circulation holes at six drill sites at Spring Valley, and in 2010 completed
two diamond drill holes as twins of reverse circulation holes completed in previous programs.
With
the exception of the two core holes with single sample interval high grade intercepts, the average gold grade of the RC drilling
is slightly higher than that of the comparable core samples. This relationship was also recognized by Midway (LeLacheur et al.,
2009) in a twin hole program of two pairs of core-RC holes, and in a study using a nearest neighbor RC assay result in comparison
with a core assay interval; however the difference is negligible considering the documented coarse gold sampling issues, and the
relatively small data set. All drill hole data has been included in the database, and in the generation of gold resources reported
in this document. Gustavson believes this treatment is acceptable and within limits of the available data; especially in light
of the coarse gold sampling comments of Pitard (2004), suggesting the nugget effect on the
project which results in an understatement of the gold grade, thereby creating a very conservative resource estimate.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 11.3.8 | Exploration
drilling 2014 |
Barrick,
as operator of the Spring Valley Venture, began the 2014 exploration drill program in mid-March 2014. The data from the 2014 drill
program have not yet been made available to Midway, and are not included in this resource estimation. Gustavson does not anticipate
that a small number of additional infill drillholes will have a material impact on the resource.
| 11.4 | Data
Entry Validation Controls |
Geologic
and geotechnical logs (for core only) were completed for each Midway drill hole. For RC drilling, the geologists logged from drill
chips directly into Microsoft Excel® spreadsheets using a PDA-type hand-held computer at the RC drill rig. Drill core was
cleaned, photographed, and then logged by Midway geologists who input the information directly into Microsoft Excel® spreadsheets.
Structure and vein orientations were recorded from oriented core. Drill logs were printed and stored in binders by hole name together
with related drill information. All collar and drill log information was imported into a Microsoft Access® drill hole database.
The logging forms were entered into a secure Microsoft Access® database, and any changes to the database needed to be approved
by the project manager. This database was stored on the main computer at the Lovelock Office, and backed up to the server in the
corporate office. Access to the primary database was restricted to the Project Manager and Database Manager for security.
Barrick
project personnel follow sample handling and logging protocols outlined in a written procedures document. For diamond drill core,
a visual quick-log of lithology is prepared while loading core at the drill site or unloading core at the Lovelock facility. Once
at the Lovelock facility, the core is washed and photographed, with photos downloaded to a database. Photos are inspected for
clarity and lighting, and reshot if necessary. Geological and geotechnical logs are completed, with data captured electronically,
for each drill hole, using a preapproved logging form. Geotechnical aspects logged include core recovery, RQD, fractures per foot,
and estimated hardness. Geologic features logged include lithology, alteration, mineralization, structure and measurement of magnetic
susceptibility (every three feet). Sample intervals are marked by the geologist based on logged geology, alteration, mineralization
and/or structure.
For
RC drilling, the geologists logged from drill chips electronically using a PDA-type hand-held computer at the RC drill rig.
Drill
logs were printed and stored in binders by hole name together with related drill information. All collar and drill log information
was imported into Barrick’s drill hole database. Access to the primary database was restricted to the Project Manager and
Database Manager for security.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Gustavson
concludes that the sample preparation, security and analytical procedures are correct and adequate for preparing this Technical
Report. The sample methods and density are appropriate and the samples are of sufficient quality to comprise a representative,
unbiased database.
Midway
relies upon the accuracy and completeness of data provided by Barrick pursuant to the Exploration, Development, and Joint Operating
Agreement dated March 9, 2009, and the subsequent Spring Valley Venture Agreement.
Gustavson
(W. Crowl), along with William Neal of Midway, visited the Spring Valley Project site on June 17, 2014 and the Core Splitting
and sampling facility at Turquoise Ridge on June 18, 2014. (core splitting and sampling for the 2014 Spring Valley drill program
is being performed at Barrick’s Turquoise Ridge facility due to availability of appropriate equipment and personnel.) Mr.
Crowl observed drilling, drill sampling, and logging in progress at Spring Valley and observed core splitting and sampling procedures
for the 2014 drill program at the Turquoise Ridge Facility. These observations do not have direct bearing on the sample database
used for this resource estimation, but they serve as confirmation of Barrick’s exploration practices and procedures described
later in this report.
Gustavson
(W. Crowl and Z. Black) visited the Spring Valley project site and the Lovelock facility on October 24, 2013. As with Gustavson’s
previous visit in 2011, there were no drilling activities in progress. In the company of William Neal of Midway and Bob Morrel,
the Barrick District Manager, several geologic sites were visited and several hole collars were surveyed with hand-held GPS.
In
the Lovelock office, Gustavson was provided a presentation of the current geologic understanding of the Spring Valley gold deposits.
After the presentation, Gustavson toured the core storage and logging facilities. Barrick provided explanations of the current
alteration and mineralization logging procedures and discussed the use of multi-element analyses in characterization of mineralization.
Gustavson
(D. Baker) visited the Spring Valley project site and the Lovelock facility on February 24, 2011. There were no drilling activities
in progress, and the project site was snow covered. Drill sites are typically reclaimed shortly after completion of drilling.
These combined factors precluded on-site confirmation of the location of 2009 – 2010 drill holes.
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The
visit to the Lovelock facility enabled discussions with Spring Valley project personnel regarding drilling methods, sample handling
and security, core logging protocols, data management and QA/QC programs. Discussion regarding drilling methods, sample handling
and security, and QA/QC programs is provided in the appropriate sections above. Gustavson regards methods and management employed
in these areas as acceptable and meeting industry standards.
In
the Lovelock office, Gustavson reviewed core handling protocols with project personnel. A core logging procedures document was
provided and reviewed, and outlines the full breadth of the core handling process, from the drill rig through the entire logging
process. The procedures incorporate the washing and photographing of core, the taking of magnetic susceptibility readings, geotechnical
logging categories, geologic and structure logging categories, and the sample selection process, including sample intervals for
assay, multi-element samples, skeleton core and samples for density measurement. All logging information is captured electronically,
with hard copies printed and filed.
A
sampling of assay certificates provided to Midway by Barrick was reviewed by Gustavson. Assay information on the certificates
matched that captured in the project database. This is to be expected in that assay results are transmitted and captured electronically.
Based
on the observations from the 2014, 2013 and 2011 site visits, Gustavson considers that the data provided by Barrick is sufficient
for use in the estimation of mineral resources.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 12.1 | Validation
of Database |
Gustavson
conducted a thorough audit of the current Spring
Valley exploration drill hole database. The following tasks were completed as part of the audit:
- Perform
an mechanical audit of the database;
- Validate
the assay values contained in the 2013 database with assay certificates from Midway; and
- Review
the QA/QC protocol and summary results from Barrick.
The
exploration database used by Gustavson for the resource estimation incorporated all significant drillholes through the 2013 drill
campaign, with the exception of 4 holes (SV13-653C, 659CA, 662C, and 672C) where assays were not available prior to the effective
date of the report. Data from the missing holes is not expected to have a material impact on the resource estimation. Drill hole
data, including collar coordinates, down hole surveys, sample assay intervals, and geologic logs, were provided in a secure Microsoft
Access database and as CSV files (the database). The database is managed by Barrick under the Exploration, Development, and Joint
Operating Agreement.
The
present database has been updated to include the remaining 2010, 2011, 2012, and 2013 drill holes, which were available as of
the effective date of the report. The drill hole database contains gold assay analytical information for 112,858 sample intervals
from core, RC, and mud rotary drilling methods. All mud rotary drill samples were pre-collar samples taken within the alluvium
and thus are not included in the resource estimation.
The
Spring Valley Venture, managed by Barrick Exploraiton, initiated the 2014 drill program in March 2014.
Additionally,
Gustavson was provided with QA/QC summaries, assay certificates (2009-2012), Vulcan block models, geologic solids and surfaces,
topography, and spread sheets and reports detailing Barrick’s block model estimation process.
A
mechanical audit of 8 database tables was completed using Leapfrog Geo software (“Geo”). The database was checked
for missing survey data, overlaps, gaps, total drill hole length inconsistencies, non-numeric assay values, and negative numbers.
A total of 673 drill holes were imported into Leapfrog for validation. Table 12-1 shows the results of the mechanical audit and
the subsequent corrections.
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Table
12-1 Mechanical Audit Errors
Drill
Hole |
Validation
Concern |
Corrective
Action |
SV11-545X |
No
Collar Data |
Removed
from Estimation Database |
SV12-586C |
No
Downhole Survey Data |
Removed
from Estimation Database |
SV12-595X |
No
Downhole Survey Data |
Removed
from Estimation Database |
SV13-659C |
No
Downhole Survey Data |
Removed
from Estimation Database |
SV13-659CA |
No
Downhole Survey Data |
Removed
from Estimation Database |
SV04-51 |
No
Assay Data |
No
Action Taken |
SV05-120C |
No
Assay Data |
No
Action Taken |
SV05-121C |
No
Assay Data |
No
Action Taken |
SC13-632C |
No
Assay Data |
No
Action Taken |
SV13-644C |
No
Assay Data |
No
Action Taken |
SV13-656C |
No
Assay Data |
No
Action Taken |
SV13-664C |
No
Assay Data |
No
Action Taken |
SV13-666C |
No
Assay Data |
No
Action Taken |
SV13-659C |
No
Geology Data |
No
Action Taken |
SV13-659CA |
No
Geology Data |
No
Action Taken |
SV13-659C |
No
Alteration Data |
No
Action Taken |
SV13-659CA |
No
Alteration Data |
No
Action Taken |
SV13-659C |
No
Redox Data |
No
Action Taken |
SV13-659CA |
No
Redox Data |
No
Action Taken |
SV13-659C |
No
RQD Data |
No
Action Taken |
SV13-659CA |
No
RQD Data |
No
Action Taken |
(Note:
664C and 666C are geotech holes for which data is not yet available as of the effective date of the report.)
The
assay file imported into Geo contained a significant number of overlapping intervals. All of the overlaps are attributed to composited
intervals and multiple samples from the core holes being submitted for analysis. There are four core sample types recorded in
the database;
| 1. | core
(whole core samples) |
| 2. | core_chip
(chip sampled core – primarily for metallurgical holes) |
| 3. | core_select
(select hand samples of core) |
| 4. | core_split
(split or saw core). |
Gustavson
resolved the majority of the overlaps by removing the core_chip samples and composite intervals from the data set. The core_select
and core_split intervals were reviewed wherever an overlap was identified. Table 12-2 summarizes the identified overlaps and the
correction made to the database by Gustavson.
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Table
12-2 Database Overlap Summary
Hole
ID |
From |
To |
Sample
Type |
Correct
From |
Correct
To |
SV12-558C |
395 |
400 |
RC |
395 |
397 |
SV12-558C |
397 |
402 |
Core |
397 |
402 |
SV12584C |
495 |
500 |
RC |
495 |
497 |
SV12584C |
497 |
502 |
Core |
497 |
502 |
SV13-615C |
495 |
500 |
RC |
495 |
497 |
SV13-615C |
497 |
502 |
Core |
497 |
502 |
SV13-652C |
405 |
410 |
RC |
405 |
407.5 |
SV13-652C |
407.5 |
412 |
Core |
407.5 |
412 |
SV12-577C |
19 |
96.1 |
core_select |
removed
no assay data |
SV12-582C |
5 |
96.1 |
core_select |
removed
no assay data |
Gustavson
disregarded the core_select samples in drill holes SV12-577C and SV12-582C without analytical information thereby resolving all
the overlapping intervals. The remaining overlaps in Table 12-2 were a result of overlapping intervals at the pre-collar point
of the 4 drill holes. Each of the RC sample types was adjusted to match the core interval.
| 12.1.4 | Gaps,
Non-numeric Assay Values, and Negative numbers |
The
software reported 870 missing intervals. The majority of which are located at the collar of the drill hole or within the pre-collar
drilling samples of the historic drill holes, e.g. ESV1.
All
of the non-positive numbers (-99 or -9) represent non-sampled intervals and were omitted from the dataset. Assay values of zero
(0.0) within the historic drill data are assumed to be below detection limit assays and are included as 0.0001 oz/t in the resource
estimation. Table 12-3 below summarizes the number of intervals imported, the number of missing intervals, the number of non-positive
values, the number of 0.0 assays, and the number of valid assays for each element.
Table
12-3 Interval Import Summary
Element |
Missing
Interval |
Non-Positive
Values |
Below
Detection Limit |
Assay
Values |
Au_Best_Value_OPT_dr |
870 |
2,132 |
1,579 |
109,147 |
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Drill
hole SV12-607W has a duplicate downhole survey at the collar. Gustavson chose to use the more precise survey reported as it better
matched the next survey down the hole. Two sets of drill holes were identified as potential twins or as possible wedges;
| 12.1.6 | Table
Depth Consistency |
The
survey, assay, and the geology tables maximum sample depth was checked as compared to the maximum depth reported in the collar
table for each drill hole. No intervals exceeded the reported drill hole depths.
Gustavson
received original assay certificates in pdf and comma delimited format for all drillhole samples through 2012. A random manual
check of 1,210 samples within the database (including 2013 data) against the original certificate revealed 3 total errors (Table
12-4). The results of the analysis indicate that the data imported into the database matches the certificates 99.7% of the time
with a confidence interval of ± 0.56% at a 95% confidence level.
Table
12-4 Certificate Validation Errors
Sample ID |
Drill Hole |
From |
To |
Certificate Au ppm |
Database Au ppm |
Sample Type |
Database Certificate |
604019 |
SV10-500C |
345 |
350 |
0.0025 |
-99 |
CONVENTIONL_MUD |
|
614033 |
SV10-509C |
1803.2 |
1808.4 |
0.009 |
1.31 |
Au_Au-AA23_ALS_ppm |
WN11022280 |
613940 |
SV10-509C |
1832.6 |
1834.9 |
0.043 |
0.029 |
Au_Au-AA23_ALS_ppm |
WN11022280 |
| 13. | MINERAL
PROCESSING AND METALLURGICAL TESTING |
| 13.1 | Mineral
Processing and Metallurgical Testing |
Barrick
contracted with McClelland labs in Sparks, Nevada to complete a detailed metallurgical testing program on thirteen drill core
composites from Spring Valley. The composite samples representing four rock types and three oxidation states were tested by column
leaching, bottle roll and gravity methods. The composites were from a total of 355 split diamond drill core intervals, each interval
representing approximately five feet. Grades of the composite samples ranged from 0.21 grams per tonne (gpt) to 5.07 gpt (0.006
oz/t to 0.148 oz/t); nine of the samples had grades less than 1.03 gpt (0.030 oz/t). Because coarse gold is known to be present
at Spring Valley, the reported gold grades were determined by metallic screen fire assays, see Table 13-1.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
13-1 Composites
Metallic Screen Assays |
FP-OX A |
FP-OX B |
SD-OX |
WT-OX A |
WT-OX B |
FP-TRANS A |
FP-TRANS B |
BX-RED A |
BX-RED B |
FP-RED A |
FP-RED B |
FP-RED C |
WT-RED |
Gold oz/t |
0.015 |
0.027 |
0.026 |
0.006 |
0.08 |
0.036 |
0.008 |
0.013 |
0.027 |
0.022 |
0.022 |
0.034 |
0.148 |
Column
leach tests simulating heap leach conditions were conducted over 260 days, and yielded gold recoveries from 46% to 98% at an average
of 73% for all materials tested. Individual results for the oxide, transition and reduced ores averaged 77%, 80% and 68% respectively.
Rocks tested by column leach methods were crushed to 80% passing one-half inch. Lime was mixed with the dry composite charges
before the 4-inch diameter PVC columns were loaded. A cyanide solution of 2.0 lb/ton was applied to the columns at a rate of 0.003
gpm/ft2 of column cross sectional area.
Bottle
roll tests were conducted for 96 hours on thirteen samples ground to minus 1700, 300, 150, and 75 microns (10, 48, 100 and 200
mesh sizes); these recoveries were 62%, 91%, 94% and 95% respectively. All tests were conducted at 40% solids. Lime was added
to adjust the pH of the pulps to between 10.5 and 11.0 before adding the cyanide. Sodium cyanide equivalent to 2.0 lb. per ton
of solution was added to the alkaline pulps. Gold recoveries from the 10 mesh feeds ranged from 17.9% to 87.5%. Gold recoveries
from the 48 mesh feeds ranged from 70.0% to 96.7%. Gold recoveries from the 100 mesh feeds ranged from 88.9% to 97.8%. Gold recoveries
from the 200 mesh feeds ranged from 85.7% to 97.4%. Rate of recovery from the 10 mesh feed was moderate, but were fairly rapid
for the other feed sizes.
After
leaching, rinsing and draining, residues were removed from the columns and moisture samples taken immediately. The remaining leached
residues were air dried and split to obtain a sample for a tail screen analysis. Tail screens were conducted to determine residual
precious metal content and distribution.
A
gravity recoverable gold test was conducted on each of the 13 Spring Valley composites to determine response of the sample to
gravity concentration. The gravity test consists of sequentially milling and processing a sample using a laboratory Knelson concentrator.
Three sequential liberation/gravity concentration steps were conducted. Grind sizes evaluated were minus 20 mesh, 80% minus 65
mesh, 80% minus 100 mesh and 80% minus 200 mesh. The minus 20 mesh feeds were each processed through the Knelson concentrator.
The resulting gravity rougher concentrate was cleaned by hand panning to produce a cleaner concentrate and a cleaner
tail. The resulting rougher tailings were dried, blended and split to obtain a sample for tail screen analysis. The remaining
rougher tailings were milled to the next grind size, and the process was repeated. Similarly, the resulting gravity rougher tailings
from the second step were milled to the final grind size, and the process was again repeated.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
All
13 of the Spring Valley composites were amenable to gravity treatment at the feed sizes evaluated. Total rougher gold recoveries
ranged from 78% to 97% and averaged 86% across all materials tested.
Four
samples representing reduced and oxidized material were selected for Bond Mill Work Index (BWi) determinations. The tests were
completed by Philips Enterprises LLC of Golden, Colorado. The BWi ranged from 16.31 to 21.67 kW-hr/st.
Echo
Bay conducted 144-hour bottle roll tests on seven 20 to 25 foot composites of RC cuttings logged as being in the oxide zone at
McClelland Laboratories Inc. in 2002. Gold extractions progressed slowly, with extraction effectively complete after 96 hours.
Cyanide consumption was low and lime requirements were moderate. Gold extractions ranged from 75% to 95% on nominal - 10 mesh
material.
Glamis
Gold conducted 96 hour bottle roll tests on three sulphide composites and two oxide composites in 2005. Composites were from HQ
diameter core and tests were completed on both coarse crushed (nominal 10 mesh) and finely pulverized (200 mesh) material. Cyanide
gold extraction ranged from 44%-88% from 10 mesh material, while gold extraction averaged 91%-95% from 200 mesh material.
In
December 2005, samples from eight drill holes were submitted for metallurgical testing at McClelland Laboratories Inc. in Sparks,
Nevada by Midway. Select samples were combined to produce 19 composites for gravity recoverable gold GRG testing. The composite
samples were sequentially milled to progressively finer sizes, the resulting material (or gravity tailings after the first grind
size) was processed using a laboratory Nelson Concentrator. The resulting concentrate and tailings were then assayed to determine
gravity recovery of gold versus grind size. Testing in this way provides an estimate of the maximum recoverable gold values by
gravity concentration. Recoveries for nine composites with head grades greater than 0.030 oz/t gold were between 67.5% and 96.5%
with an average of 87.9%.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
test samples described above are considered representative of the mineralization of the deposit as a whole. As of the date of
this report, there are no additional processing factors that could have a significant effect on potential extraction.
| 13.7 | Summary
& Recommendations |
Scoping
testwork has shown that the mineralization at Spring Valley is amenable to cyanidation, and also that a large percentage of mineralization
may be recovered using gravity separation methods. Cyanide recoveries for Spring Valley are relatively slow, possibly due to the
presence of coarse gold. It is recommended that the Spring Valley Venture undertake additional testwork to evaluate several processing
options including all gravity, heap leach, and gravity with agitated leach.
| 14. | MINERAL
RESOURCE ESTIMATE |
Zachary
J. Black, SME-RM, an associate Resource Geologist with Gustavson is responsible for the estimation of the mineral resource herein.
Mr. Black is a qualified person as defined by NI 43-101 and is independent of Midway and of Barrick. Gustavson estimated the mineral
resource for the Spring Valley Project from drill-hole data, constrained by a single mineralized boundary with an Ordinary Kriging
(“OK”) algorithm.
The
Mineral Resources contained within this Technical Report have been classified under the categories of Measured, Indicated and
Inferred in accordance with standards as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”)
“CIM Definition Standards - For Mineral Resources and Mineral Reserves”, prepared by the CIM Standing Committee on
Reserve Definitions and adopted by CIM Council on December 17, 2010. Classification of the resources reflects the relative confidence
of the grade estimates.
| 14.1 | Block
Model Physical Limits |
Gustavson
created a three dimensional (“3D”) block model in CAE Mining’s Studio software. The block model was created
with individual block dimensions of 20 x 20 x 20 ft (xyz). The model origin is located at 1,319,880 east, 14,643,940 north, and
at an elevation of 3,200 ft above sea level (“asl”). The block model extends 8,040 ft (402 blocks) to the east, 12,560
ft (628 blocks) to the north, and vertically 3,120 ft (156 blocks) to an elevation of 6,320 ft asl. All of the block model coordinates
are stored as UTM NAD27, Zone 11 survey feet with elevations based on North American Vertical Datum (“NAVD”). All
property and minerals within the block model extents are owned or claimed by Midway. Each of the blocks was assigned attributes
of gold, resource classification, rock density, lithology, and a grade domain classification.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 14.2 | Data
Used for the Grade Estimation |
Gustavson
used the exploration drillhole database as described in 12.1.1 for resource estimation. Drill hole data, including collar coordinates,
down hole surveys, sample assay intervals, and geologic logs, were provided in a secure Microsoft Access database and as CSV files.
The database is managed by Barrick under the Exploration, Development, and Joint Operating Agreement.
The
present database has been updated to include the 2010, 2011, 2012, and available 2013 drill holes, which were completed since
the previous mineral resource estimate. The drill hole database contains gold assay analytical information for 112,858 sample
intervals from core, RC, and mud rotary drilling methods. All mud rotary drill samples were pre-collar samples taken within the
alluvium and thus are not included in the resource estimation.
In
order to assess the influence of geologic characteristics on assay data the individual files representing lithology, alteration,
trace element analytical data, and gold analytical data were combined into a single interval file. The resulting file contained
121,488 intervals. The increase in the number of sample intervals results from the geologic or trace element data being collected
on different intervals than the gold analytical data. Merging the intervals can subdivide individual assay intervals where the
geologic data are recorded with a different interval pattern. The 121,488 samples were collected in both bedrock (99,821) and
alluvium (21,667). Gustavson did not estimate mineral resources within the alluvium and the assay samples representing the alluvium
are not included in the discussions below.
Metallic
Screen assays are used as the primary assay database, when available, as this methodology is considered to handle coarse gold
grade variability at Spring Valley more effectively than other assay techniques. Where Metallic Screen assays are not available,
30g fire assay values are used. Samples below detection limit (bdl) are treated as having a grade of half the detection limit
applicable during the sampling campaign. (Typically 0.0001 oz/t Au) There is a distortion in the grade curves at the very low
end caused by these bdl sample values, but it is not material to the estimate.
The
geology of the resource area is characterized by a thick series of Permian/Triassic aged volcanic and meta-volcanic rocks, named
the Koipato Group. The Kiopato Group is comprised of three members from oldest to youngest, the Limerick Greenstone, the Rochester
Rhyolite, the Weaver Rhyolite. Mississippian to Triassic Leucogranite and rhyolite porphyry locally intruded the Permian/Triassic
units. Quaternary alluvial and colluvial deposits overlie the bedrock units.
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The
regional structural model is interpreted to have resulted from three stages of structural development of the Humboldt Range. The
earliest was an east-west compressional event associated with the Nevadan Orogeny, resulting in regional folds and north-south
faults and shear zones. The second stage marked a switch to extensional stresses which coincided with and controlled the mineralization
along the north-south structures and through the associated dilatational zones. The north-south structures acted as conduits for
fluids, which resulted in veins, stockworks, and disseminated mineralization along preferential flow paths. The final stage of
structural development was an event related to Basin and Range tectonics which formed a graben block controlled by the Black Ridge
fault system.
This
structural model results in penetrative thrust faults overprinted by a complex structural system of high angle fracture sets.
Mineralization
is hosted within complex structurally prepared fracture zones near the north-south faults and along the contacts between lithologic
units. Mineralization is related to irregularly distributed quartz veining and alteration throughout the favorable intrusive rhyolite
porphyry, and along the contacts with the greenstone and volcanoclastic units of the Rochester Member. Most quartz veins are in
the ½-inch to 4-inch size range with associated alteration selvages of a few feet to tens of feet wide, varying to areas
of dense quartz veining with pervasive alteration. Individual vein zones generally display limited lateral and vertical continuity;
however, mineralized zones form broader corridors characterized by extensive lateral (along lithologic contacts) and depth continuity
along the north-south trending faults. The project has been divided into five areas along the north-south trending structures
and into three areas based on east-west structures (Figure 14-1). As structural offsets have continued through the Quaternary
period there is offset represented in the mineralization trends. The orientation and sample statistics have been grouped within
north-south structures. The resulting subdivided areas are the basis for the estimation domains.
September 9, 2014 | 71 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_017.jpg)
Figure
14-1 Fault and Estimation Domain Plan View
Domains
1100 – 1300 are the portion of Spring Valley to the east of the Limerick fault and represent an area of limited drilling
with sporadic intervals of mineralization. This portion of the project is assumed to be unmineralized and has not been estimated.
Domains
2100 – 2300 are the portion of Spring Valley that represent the Limb domains. These domains are bound by the Reverse fault
to the west and by the Limerick fault to the east and at depth. The mineralization in these domains strikes between N30E and N45E
and dips approximately 30° to the west along the intrusive porphyry. Mineralization is found along lithologic contacts, the
margins of the intrusive and near the low angle Limerick Fault.
Domains
3100 – 3300 comprise the Main domain and host the majority of mineralization. These domains are bound on east by the Reverse
fault and on the west by the Black Ridge Fault. The mineralization within the Main domains resides near the two main structures,
but is found in near tabular lenses related to contacts of the lithologic units and the margin of the intrusion.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Domains
4000 and 5000 are to the west of the Black Ridge fault. The mineralization in these domains is primarily along lithologic contacts
in close proximity the West and Black Ridge Faults.
| 14.5 | Exploratory
Data Analysis |
Gustavson
completed an Exploratory Data Analysis (EDA) on the gold analytical information contained in the Spring Valley exploration database.
The purpose of an EDA is to summarize the main characteristics of the data provided using both statistical and visual methods.
Gustavson utilized Leapfrog Geo (Geo) and ioGas Software to analyze the assay data.
The
assay and geologic information was visually inspected in 3-dimensions, cross-sections, and plan views in Geo. As with many precious
metal exploration projects much of the drillhole assay data collected is within non-mineralized zones. Metallic screen assays
have a lower detection limit of 0.0015 oz/t and as such the exploratory data analysis was limited to assay values above 0.002
oz/t. Filtering the data assisted in defining zones of structural offset and differing directions of maximum continuity (Figure
14-2).
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](page76x1x1.jpg)
Figure
14-2 Oblique View of Filtered Gold Values (Au≥.002 oz/t) Limerick Trend Encircled
September 9, 2014 | 74 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
individual lithologic codes in the provided database were grouped into 7 primary lithologic units (Table 14-1) based on Midway’s
understanding of the Spring Valley geology. Descriptive statistics were calculated for the grouped lithologies.
Table
14-1 Lithologic Groups
Grouped
Lithology |
Lithology
Codes |
Alluvium
(Qal) |
Qal |
Breccia
and Veins (BX_Vn) |
BX,
VN |
Fault
(FLT) |
FLT,GG |
Limerick
(Lmk) |
AFT,LG,LK,LKAN,LKGW |
Rhyolite
(Rhy) |
RP,RY,RYLT,RYSP |
Volcanoclastic
Sediments (VCS) |
BC,FEL,SD,WT |
Feldspar
Porphyry (Inf) |
DI,FELN,FP,FPB,HP,IBX,MINT,MZ,
BP |
The
descriptive statistics presented in Table 14-2 support the visual inference that the statistical analysis of the mineralization
can be restricted to the gold assay values ≥ 0.002 oz/t as represented by the total sample populations 75 percentile.
The statistics indicate that there are subtle differences in the mineralization by lithology with the feldspar porphyry
containing the higher average grades. The Limerick lithology is statistically lower grade with only 10-percent of the assays reporting
≥ 0.002 oz/t gold. The mineralized portions of the Limerick are assumed to be near the contact with the Rochester rhyolite
or at structural contacts.
Table
14-2 Spring Valley Project Sample Assay Gold Descriptive Statistics (oz/t)
Statistic |
Total |
Not Logged |
Breccia and Veins |
Faults |
Feldspar Porphyry |
Limerick |
Rhyolite |
Volcanoclastic Sediments |
Number of Samples |
99,821 |
6,280 |
2,473 |
4,105 |
19,371 |
22,652 |
16,633 |
28,307 |
Minimum (oz/t) |
0.0001 |
0.0001 |
0.0001 |
0.0001 |
0.0001 |
0.0001 |
0.0001 |
0.0001 |
Maximum (oz/t) |
9.1001 |
1.8142 |
6.1834 |
0.7204 |
9.1001 |
5.3667 |
5.6438 |
2.4588 |
Mean (oz/t) |
0.0065 |
0.0079 |
0.0112 |
0.0056 |
0.0105 |
0.0022 |
0.0056 |
0.0073 |
Median (oz/t) |
0.0005 |
0.0004 |
0.0007 |
0.0007 |
0.0007 |
0.0001 |
0.0003 |
0.0007 |
Variance (oz/t2) |
0.0050 |
0.0030 |
0.0167 |
0.0008 |
0.0145 |
0.0016 |
0.0034 |
0.0021 |
Std. Dev. (oz/t) |
0.0705 |
0.0545 |
0.1292 |
0.0278 |
0.1205 |
0.0396 |
0.0580 |
0.0459 |
Kurtosis |
8129.4 |
553.6 |
2108.8 |
298.8 |
4039.6 |
14879.2 |
5774.7 |
992.2 |
Skewness |
77.3 |
21.3 |
44.4 |
15.1 |
59.0 |
112.4 |
65.9 |
26.1 |
COV |
118.3 |
48.1 |
133.1 |
25.5 |
131.5 |
330.6 |
108.4 |
39.4 |
Descriptive
statistics (Table 14-3), Cumulative Frequency Plots (CFP) (Figure 14-3), and Tukey box plots (Figure 14-4) were calculated
for each lithology with a minimum gold value of ≥0.002 oz/t to compare the statistical populations to one another and
to evaluate for any statistical outliers. The descriptive statistics restricted to ≥0.002 oz/t reduce the differences
between lithologies
with the Limerick still representing a slightly lower average grade. However, as the populations approach the upper percentiles
of the CFP (Figure 14-3) they converge. This may indicate that a significant portion of the higher grade mineralization consists
of stockwork veining or other structurally related mineralization within each of the lithologies. Statistical Tukey outliers are
represented on both plots as open circle and triangle symbols.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
14-3 Descriptive Statistics ≥0.002 oz/t Au by Lithology
Statistic |
Total |
Not Logged |
Breccia and Veins |
Faults |
Feldspar Porphyry |
Limerick |
Rhyolite |
Volcanoclastic Sediments |
Number of Samples |
25,250 |
1,673 |
899 |
1,092 |
7,156 |
2,224 |
3,748 |
8,458 |
Minimum (oz/t) |
0.0020 |
0.0020 |
0.0020 |
0.0020 |
0.0020 |
0.0020 |
0.0020 |
0.0020 |
Maximum (oz/t) |
9.1001 |
1.8142 |
6.1834 |
0.7204 |
9.1001 |
5.3667 |
5.6438 |
2.4588 |
Mean (oz/t) |
0.0247 |
0.0285 |
0.0298 |
0.0200 |
0.0276 |
0.0193 |
0.0238 |
0.0234 |
Median (oz/t) |
0.0071 |
0.0072 |
0.0090 |
0.0073 |
0.0087 |
0.0053 |
0.0071 |
0.0067 |
Variance (oz/t2) |
0.0192 |
0.0106 |
0.0454 |
0.0026 |
0.0389 |
0.0157 |
0.0145 |
0.0067 |
Std. Dev. (oz/t) |
0.1387 |
0.1028 |
0.2131 |
0.0512 |
0.1972 |
0.1252 |
0.1204 |
0.0818 |
Kurtosis |
2129.1 |
153.1 |
776.6 |
86.1 |
1514.4 |
1503.0 |
1358.5 |
316.2 |
Skewness |
39.8 |
11.3 |
27.0 |
8.2 |
36.2 |
35.9 |
32.2 |
14.9 |
COV |
31.5 |
13.1 |
51.1 |
6.5 |
51.1 |
42.1 |
25.6 |
12.2 |
![](image_018.jpg)
Figure
14-3 Gold (oz/t) Cumulative Frequency Plots by Lithology
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_019.jpg)
Figure
14-4 Gold (oz/t) Box Plots by Lithology
The
high Coefficient of Variation (COV) within gold assays in each lithologic unit and the overall statistical similarities at the
higher grade intervals between the individual lithologies suggests that lithology is not the primary controlling feature of the
mineralization at Spring Valley; however, due to the difficulties in accurately defining the lithology from the drill hole samples
a correlation between lithology an mineralization may be masked. Similar statistical results were encountered in Gustavson’s
evaluation of gold correlation with alteration types.
Gold
has been observed in quartz veins and adjacent alteration selvages as disseminated free gold. Free gold is likely deposited on
fracture surfaces as well. Most quartz veinlets range from ½ inch to 4 inches in size, with associated alteration selvages
from a few feet to tens of feet wide and variable areas of dense quartz veining with pervasive alteration.
It
has been observed that gold is associated in certain areas of the system with zones of structural preparation as indicated by
low RQD values and structural preparation observed in drill core. However, there is no observable correlation between RQD and
gold grade, possibly because there are also areas of structural preparation, quartz veining, and gold mineralization which have
healed and are no longer fractured, as well as areas of post-mineral faulting where there is low RQD but no mineralization.
Based
on field and laboratory observations, mineralization at Spring Valley is postulated to be associated with RQD, specific alteration
types, and lithology; however, statistical analyses do not necessarily support these hypotheses. The discrepancy between the postulated
associations and the
results of the statistical analysis may simply reflect the challenges of effectively logging complex geologic characteristics
such as those present at Spring Valley.
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In
an attempt to correlate the higher grades (in vein material) to the lower grade alteration selvages Gustavson conducted a proximity
analysis. An indicator of 0.022 oz/t was selected to represent vein material (high grade) and statistics of data ≥0.002
oz/t, ≥0.004 oz/t, ≥0.006 oz/t, ≥0.008 oz/t, and ≥0.01 oz/t were tabulated for samples residing within
1, 2, 3, 4, and 5 intervals of in vein material. Table 14-5 summarizes the results of the study.
The
proximity analysis identified that 61% of the mineralized (≥0.002 oz/t) material resides within approximately 25-ft of a
higher grade (≥0.022 oz/t) interval. Additionally, the higher the minimum cutoff analyzed the stronger the correlation to
the indicator (≥0.022 oz/t). The analysis is useful in separating the portion of data near the lower tail of the mineralized
distribution that is not related to the higher grade zones. The histogram in Figure 14-5 displays the gold assay data within 5
intervals of a high grade sample and Figure 14-6 summarizes the results of the proximity analysis.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_020.jpg)
Figure
14-5 Histogram of Samples within 5 Intervals (~25 ft) of a ≥ 0.022 oz/t Assay
Interval
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_021.jpg)
Figure
14-6 Samples above Cutoff within Range of Vein (>0.022 oz/t) Assay Interval
Note
that 84% of samples above 0.01 oz/t are within a 25-foot distance of vein intervals
Treating
the vein material (>0.022 oz/t Au) to be representative of the mineralized structures, it is clear that the majority of mineralized
material can be found in close proximity to these structures. This is consistent with patterns of mineralization observed in section
and plan. A visual evaluation of the assay and geologic data in cross-section and plan view, in conjunction with the proximity
analysis, reveals that while it is difficult to substantiate lithologic or alteration based domaining, there exists a significant
spatial correlation between the higher grade samples and disseminated mineralization. It is Gustavson’s opinion that the
statistical analyses justify the use of a grade boundary at +0.003 oz/t, as a proxy for the mineralized alteration selvages and
vein zones, and domaining the resource within this grade boundary is both reasonable and appropriate.
A
composite study comparing the population variance and average grades was completed (Figure 14-7). A composite length of 10-foot
down-hole was selected for estimation as it is larger in length than the longest sample intervals; long enough to provide a variance
reduction (40%) relative to using raw assay data, and still short enough to allow the estimate to show local variability of grade
consistent with the sample distribution of the deposit. The composite statistics are summarized on Figure 14-7.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_022.jpg)
Figure
14-7 Composite Study
Grade
capping is the practice for replacing statistical outliers with a maximum value from the assumed sampled distribution. This is
done to better approximate the true mean of the sample population. The estimation of highly skewed grade distributions can be
sensitive to the presence of even a few extreme values. Gustavson utilized a log scale cumulative Frequency Plot (“CFP”)
of the composite data for gold ≥0.001 oz/t to identify the presence of statistical outliers (Figure 14-8). A cap was assigned
for each domain as summarized in Table 14-4. The descriptive sample statistics are presented in Figure 14-8.
Table
14-4 Capped Value by Domain
Domain |
Description |
Au
Cap (oz/t) |
2100
- 2300 |
Limb
(Red) |
0.700 |
3100
-3300 |
Main
(Green) |
0.700 |
4000 |
West
1 (Cyan) |
0.200 |
5000 |
West
2 (Blue) |
0.030 |
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![](image_023.jpg)
Figure
14-8 CFP Analysis by Domain
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 14.8 | Grade
Shell Generation |
Leapfrog
Geo software was used to generate grade boundaries using a Radial Basis Function (“RBF”) in conjunction with a dual
kriging algorithm. Leapfrog implicitly defined a lower grade boundaries for the Project at a 0.003 oz/t cut-off based on 10-foot
composited intervals using a structural trend defined by geologic observations and split by the individual domain boundaries (Figure
14-9). The grade boundary has been used to constrain each of the estimation domains. The grade boundary was used to code blocks
and the drill-hole assay composites residing within the individual grade boundary solid. The descriptive statistics are summarized
in Table 14-5.
![](image_024.jpg)
Figure
14-9 Grade Boundary
Table
14-5 Capped 10-foot Composite Statistics ≥0.001 oz/t
Domain |
Below |
Inside |
Minimum |
Maximum |
Mean |
Variance |
Std.
Dev. |
COV |
2100 |
401 |
1389 |
0.0010 |
0.645 |
0.0233 |
0.0035 |
0.0590 |
2.53 |
2200 |
215 |
871 |
0.0010 |
0.676 |
0.0276 |
0.0043 |
0.0655 |
2.37 |
2300 |
174 |
661 |
0.0010 |
0.500 |
0.0151 |
0.0014 |
0.0374 |
2.48 |
3100 |
1111 |
4075 |
0.0010 |
0.700 |
0.0165 |
0.0017 |
0.0409 |
2.48 |
3200 |
362 |
1328 |
0.0010 |
0.700 |
0.0194 |
0.0020 |
0.0451 |
2.33 |
3300 |
861 |
2667 |
0.0010 |
0.700 |
0.0198 |
0.0022 |
0.0463 |
2.34 |
4000 |
254 |
841 |
0.0010 |
0.200 |
0.0148 |
0.0007 |
0.0273 |
1.85 |
5000 |
114 |
276 |
0.0010 |
0.030 |
0.0090 |
0.0001 |
0.0088 |
0.98 |
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A
variography analysis was completed to establish spatial variability of gold values in the deposit. Variography establishes the
appropriate contribution that any specific composite should have when estimating a block volume value within a model. This is
performed by comparing the orientation and distance used in the estimation to the variability of other samples of similar relative
direction and distance.
Variograms
were created for horizontal and vertical orientations in increments of 15° horizontally and 15° vertically. Search ellipsoid
axis orientations were based on the results of the analysis. The sill and nugget values were taken from the omnidirectional and
down-hole variograms, respectively. Table 14-6 summarizes the variogram parameters used for the analysis. The resultant variograms
(Figures 14-10 through 14-12) were used to define the search ellipsoid responsible for the sample selection in the estimation
of each block (Table 14-7).
The
ellipse orientations are rotated dynamically to better represent changes in the strike and dip of the mineralization. A
dynamic anisotropy was applied to both the search volume and to the variogram model. With this method, the orientation of the
search ellipse and variogram model changes on a block by block basis to accommodate for local variations in the orientation of
mineralization.
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_042.jpg)
![](image_043.jpg)
Figure
14-10 Example Variograms, 2100-2300 domain
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_044.jpg)
![](image_045.jpg)
Figure
14-11 Example Variograms, 3100-3300 domain
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_046.jpg)
![](image_047.jpg)
Figure
14-12 Example Variograms, 3100-3300 domains
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_048.jpg)
![](image_049.jpg)
Figure
14-13 Example Variograms, 4000-5000 domains
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
![](image_050.jpg)
Figure
14-14 Example Variograms, 4000-5000 domains
Table
14-6 Domain Variogram Parameters
2100
- 2300 Domain Variogram Parameters |
Nugget
(C0) |
C1 |
C2 |
|
0.359 |
0.158 |
0.483 |
Axis |
Rotation |
Range
1 |
Range
2 |
Z |
-60 |
30 |
86 |
Y' |
0 |
42 |
144 |
X' |
45 |
45 |
164 |
3100
- 3300 Domain Variogram Parameters |
Nugget
(C0) |
C1 |
C2 |
|
0.409 |
0.295 |
0.295 |
Axis |
Rotation |
Range
1 |
Range
2 |
Z |
30 |
33 |
253 |
Y' |
0 |
58 |
157 |
X' |
15 |
65 |
247 |
4000
- 5000 Domain Variogram Parameters |
Nugget
(C0) |
C1 |
C2 |
|
0.342 |
0.128 |
0.530 |
Axis |
Rotation |
Range
1 |
Range
2 |
Z |
-60 |
39 |
136 |
Y' |
-15 |
28 |
116 |
X' |
180 |
26 |
299 |
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| 14.10 | Estimation
Methodology |
Gold
grades were estimated in each domain by using incremental search ellipses oriented in the direction of maximum geologic and geostatistical
continuity to provide an estimation of the gold grade within every block inside the grade shells. The estimation of each block
was based on a factor of the distance in an anisotropic direction as established by the second structure range (Table 14-6) and
from the variogram model and geologic observations of anisotropy. The 2100-2300 domains were set at a 3:3:1 anisotropy. The 3100
– 3300, 4000, and 5000 domains were set to 2:2:1 anisotropy.
Ordinary
Kriging (OK) was used to estimate grade for all domains. Grade estimation uses a maximum of 3 composites from an individual drillhole,
with a minimum of 4 and a maximum of 8 composites total used for estimation. The minimum number of composites was selected to
ensure that a minimum of two separate drillholes contribute data for estimation of grade at a block. The maximum number of composites
was set relatively low to limit grade smoothing in the estimation, and to allow for a higher local variability of grade. Estimation
parameters are presented in Table 14-7.
Table
14-7 Estimation Parameters
Estimation
Parameters |
Zone |
Grade
Shells |
No.
of composites |
1st
Pass |
2nd
Pass |
3rd
Pass |
Min |
4 |
4 |
4 |
Max |
8 |
8 |
8 |
Max
per Hole |
3 |
3 |
3 |
Search
Ellipsoid Distance |
2100-2300 |
½
(75x75x25) |
1
(150x150x50) |
2
(300x300x100) |
3100-3300 |
½
(125x125x62.5) |
1
(250x250x125) |
2
(500x500x250) |
4000,5000 |
½
(125x125x62.5) |
1
(250x250x125) |
2
(500x500x250) |
| 14.11 | Mineral
Resource Classification |
The
mineral resources were classified using the incremental search neighborhoods and a relationship between the distances to the closest
composite used for the estimation of the block gold grade. Distance to closest composite is stored as anisotropic distance relative
to the search volume. The Measured classification corresponds to blocks with 2 drillholes within ½ the range of the second
variogram structure, while the Indicated classification corresponds to two drillholes within the range of the second variogram
structure AND a single drillhole within 75% of
the variogram range. Inferred material is limited to blocks within twice the variogram range of two drillholes for each domain.
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Density
measurements for each lithology were provided to Gustavson. Each modeled lithology was assigned a density based on Table 14-8.
Table
14-8 Rock Type Density Summary
Grouped
Lithology |
Density
(ton/ft3) |
Alluvium
(Qal) |
0.0787 |
Rhyolite
(Rhy) |
0.0794 |
SD
(SD) |
0.0787 |
Welded
Tuff (WT) |
0.0816 |
Breccia
Conglomerate (BC) |
0.0831 |
Feldspar
Porphyry (Inf) |
0.0820 |
Limerick
Greenstone (Lmk) |
0.0830 |
Gustavson
validated the results of the OK method by comparison with various alternative estimation methodologies. The combined
evidence from these validation methods validates the OK method estimation model results.
| 14.13.1 | Statistical
Model Comparison |
ID2,
and NN models were run to serve as comparison with the estimated results from the OK method. Descriptive statistics
for the OK model along with those for the ID2 and NN, and 10-foot drill-hole composites for gold are shown in Tables
14-9 through 14-11.
Table
14-9 Descriptive Statistics for Domains 2100-2300 (Limb)
Domain
2100 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
401 |
1389 |
0.0010 |
0.645 |
0.0233 |
0.0035 |
0.0590 |
2.53 |
OK |
530 |
33251 |
0.0010 |
0.276 |
0.0166 |
0.0004 |
0.0207 |
1.25 |
ID |
656 |
33125 |
0.0010 |
0.299 |
0.0169 |
0.0005 |
0.0220 |
1.30 |
NN |
8470 |
25311 |
0.0010 |
0.645 |
0.0210 |
0.0027 |
0.0523 |
2.49 |
Domain
2200 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
215 |
871 |
0.0010 |
0.676 |
0.0276 |
0.0043 |
0.0655 |
2.37 |
OK |
510 |
29790 |
0.0010 |
0.295 |
0.0215 |
0.0007 |
0.0268 |
1.25 |
ID |
631 |
29669 |
0.0010 |
0.320 |
0.0220 |
0.0009 |
0.0295 |
1.34 |
NN |
7421 |
22879 |
0.0010 |
0.676 |
0.0287 |
0.0047 |
0.0683 |
2.38 |
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Domain
2300 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
174 |
661 |
0.0010 |
0.500 |
0.0151 |
0.0014 |
0.0374 |
2.48 |
OK |
366 |
25995 |
0.0010 |
0.189 |
0.0126 |
0.0002 |
0.0151 |
1.20 |
ID |
506 |
25855 |
0.0010 |
0.205 |
0.0133 |
0.0003 |
0.0173 |
1.30 |
NN |
5717 |
20644 |
0.0010 |
0.500 |
0.0163 |
0.0019 |
0.0439 |
2.69 |
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
14-10 Descriptive Statistics for Domains 3100-3300 (Main)
Domain
3100 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
1111 |
4075 |
0.0010 |
0.700 |
0.0165 |
0.0017 |
0.0409 |
2.48 |
OK |
1237 |
178015 |
0.0010 |
0.272 |
0.0129 |
0.0002 |
0.0143 |
1.10 |
ID |
1600 |
177652 |
0.0010 |
0.294 |
0.0133 |
0.0002 |
0.0157 |
1.18 |
NN |
38250 |
141002 |
0.0010 |
0.700 |
0.0160 |
0.0014 |
0.0373 |
2.34 |
Domain
3200 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
362 |
1328 |
0.0010 |
0.700 |
0.0194 |
0.0020 |
0.0451 |
2.33 |
OK |
383 |
90502 |
0.0010 |
0.237 |
0.0149 |
0.0003 |
0.0159 |
1.06 |
ID |
548 |
90337 |
0.0010 |
0.308 |
0.0158 |
0.0003 |
0.0184 |
1.16 |
NN |
17719 |
73166 |
0.0010 |
0.700 |
0.0187 |
0.0020 |
0.0447 |
2.39 |
Domain
3300 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
861 |
2667 |
0.0010 |
0.700 |
0.0198 |
0.0022 |
0.0463 |
2.34 |
OK |
346 |
156005 |
0.0010 |
0.302 |
0.0163 |
0.0004 |
0.0192 |
1.18 |
ID |
477 |
155874 |
0.0010 |
0.414 |
0.0165 |
0.0004 |
0.0205 |
1.24 |
NN |
30276 |
126075 |
0.0010 |
0.700 |
0.0195 |
0.0018 |
0.0425 |
2.18 |
Table
14-11 Descriptive Statistics for Domains 4000 and 5000 (West 1 and West 2)
Domain
4000 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
254 |
841 |
0.0010 |
0.200 |
0.0148 |
0.0007 |
0.0273 |
1.85 |
OK |
1737 |
52032 |
0.0010 |
0.081 |
0.0116 |
0.0001 |
0.0101 |
0.88 |
ID |
1664 |
52105 |
0.0010 |
0.107 |
0.0126 |
0.0002 |
0.0130 |
1.03 |
NN |
15502 |
38267 |
0.0010 |
0.200 |
0.0172 |
0.0011 |
0.0334 |
1.94 |
Domain
5000 Au ≥0.001 oz/t |
Model |
Below |
Inside |
Minimum |
Maximum |
Mean |
variance |
Std.
Dev. |
COV |
CP10 |
114 |
276 |
0.0010 |
0.030 |
0.0090 |
0.0001 |
0.0088 |
0.98 |
OK |
561 |
24965 |
0.0010 |
0.026 |
0.0068 |
0.0000 |
0.0030 |
0.44 |
ID |
843 |
24683 |
0.0010 |
0.029 |
0.0073 |
0.0000 |
0.0037 |
0.51 |
NN |
8705 |
16821 |
0.0010 |
0.030 |
0.0092 |
0.0001 |
0.0092 |
1.00 |
The
overall reduction of the maximum, standard deviation, and coefficient of variation within the OK and ID models
represent an appropriate amount of smoothing to account for the point to block volume variance relationship (Figure 14-10).
The kriging algorithm’s tendency is to provide more appropriate smoothing in densely drilled areas and to merge the
mean of the estimation
gradually as data becomes sparser. In this particular estimate there is a high density of data in higher grade portions of the
resource as compared to the lower grade areas resulting in an overall reduction in the mean of the estimated blocks. The close
relationship between the OK model and the ID model indicates that the OK model as estimated assumes a high degree of grade selectivity
in the mining operation. Care will need to be taken at the reserve stage to ensure that the degree of selectivity in the model
is appropriate to the mining technique envisioned. It may be necessary to apply dilution and ore loss factors to a reserve model
based on this resource if relatively low selectivity (i.e. large scale open pit) mining techniques are employed.
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![](image_025.jpg)
Figure
14-15 Model Comparison Cumulative Frequency Plot (OK red, ID blue, NN Black)
Swath
plots were generated to compare average gold grade in the estimated gold grade from OK method, the Barrick model and the validation
model methods (ID3 and NN). The results from the
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OK
model method, plus those for the validation ID2 and Barrick model methods are compared using the swath plot to the distribution
derived from the NN model method (Figure 14-11).
![](image_026.jpg)
Figure
14-16 Elevation Swath Model
On
a local scale, the NN model method does not provide a reliable estimate of grade, but on a much larger scale, it represents an
unbiased estimation of the grade distribution based on the total data set. Therefore, if the OK model is unbiased, the grade trends
may show local fluctuations on a swath plot, but the overall trend should be similar to the distribution of grade from the NN.
The Nearest
Neighbor estimation represents declustered composite grades, which eliminates the impact of variable drill spacing. Overall, there
is good correlation between the grade models.
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The
mineral resource estimate for the Spring Valley Project is summarized in Table 14-12. This mineral resource estimate includes
all of the available drill data through the effective date of this report and has been independently verified by Gustavson. Mineral
resources are not mineral reserves and may be materially affected by economic, environmental, permitting, legal, socio-economic,
marketing, political, or other factors.
Gustavson
used a cutoff grade to test for reasonable prospects for economic extraction.
Baseline
assumptions for cutoff grade are based on the formula:
| · | Cutoff
Grade (oz/t) = Operating Cost (per t) / Metal Price (per oz) / Metal Recovery (%) |
| · | Gold
price assumption of $1537 /oz is based on the trailing 3-year average gold price as of
the effective date of this report. |
Basis
of Assumptions Crush & Heap Leach Case:
| · | Operating
Cost (Open Cut mining, Heap leach, Carbon Recovery): $7.00/ton (assuming 1.5:1 stripping
ratio, $1.60/t mining cost, $3.30/t Heap Leach Process cost) |
| · | Gold
Recovery (Crush and Heap Leach): 73% |
| · | Cutoff
grade = $7.00 /ton / $1537/oz / 73% = 0.0062 oz/t |
Based
on these assumptions, Gustavson considers that reporting resources at a 0.006 oz/t cutoff constitutes reasonable prospects for
economic extraction based on an open pit mining scenario with carbon recovery following cyanide heap leaching. Mineral resources
are reported in Table 14-12. Additional cutoff grades are included to allow for direct comparison with prior reporting. Gustavson
cautions that economic viability can only be demonstrated through prefeasibility or feasibility studies.
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Table
14-12 Mineral Resource Statement for the Spring Valley Project,
Pershing
County, Nevada, Gustavson Associates, LLC, April 30, 2014
|
Measured |
Indicated |
Measured + Indicated |
Inferred |
Cutoff |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
oz/t |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
0.008 |
60,100 |
0.023 |
1,410 |
116,400 |
0.021 |
2,400 |
176,600 |
0.022 |
3,810 |
46,400 |
0.019 |
880 |
0.006 |
75,300 |
0.020 |
1,510 |
147,300 |
0.018 |
2,610 |
222,600 |
0.019 |
4,120 |
62,100 |
0.016 |
990 |
*0.004 |
91,500 |
0.017 |
1,590 |
179,100 |
0.016 |
2,780 |
270,600 |
0.016 |
4,370 |
78,400 |
0.014 |
1,070 |
Note
* based on discussion of cutoff presented above, material below 0.006 oz/t is not considered resource for the purposes of
this report. 0.004 oz/t cutoff is presented for informational purposes and for consistency with prior reports. Note: Values may
not sum due to rounding.
| 14.16 | Pit-constrained
Mineral Resource |
In
order to assess on a preliminary basis the portion of the Spring Valley resource accessible by open pit mining methods, Lechs-Grossman
pit shells were generated at several gold price thresholds using Whittle Four X analyser version 4.0. Resource contained within
various pit shells is presented as Table 14-13. Gustavson cautions that pit-constrained resources are not reserves and that economic
viability can only be demonstrated through prefeasibility or feasibility studies.
Table
14-13 Pit-Constrained Resource for selected Whittle Shells.
|
Measured |
Indicated |
Measured + Indicated |
Inferred |
Pit Shell |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
Tons |
Gold |
$US |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
(x1000) |
oz/t |
t. oz. (x1000) |
$1,100 |
41,500 |
0.029 |
1,200 |
69,700 |
0.024 |
1,640 |
111,200 |
0.026 |
2,840 |
19,000 |
0.022 |
370 |
$1,300 |
50,000 |
0.028 |
1,410 |
79,600 |
0.023 |
1,860 |
129,600 |
0.025 |
3,270 |
21,600 |
0.021 |
460 |
$1,500 |
54,500 |
0.027 |
1,490 |
88,100 |
0.023 |
2,030 |
142,600 |
0.025 |
3,510 |
22,900 |
0.022 |
490 |
$1,700 |
61,700 |
0.025 |
1,550 |
91,600 |
0.023 |
2,120 |
153,200 |
0.024 |
3,660 |
23,300 |
0.022 |
500 |
Note:
All in-pit resources are reported at a 0.006 oz/t cutoff. Individual values may not sum due to rounding.
September 9, 2014 | 97 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
The
Rochester silver and gold project is located south of the Spring Valley project, 12 mi north of Lovelock, Nevada. Conventional
open pit drill and blast truck and loader methods are used, which consist of mining from in-situ and stockpiled open pit sources
using heap leach extraction methods.
According
to the Coeur Mining NI 43-101 Technical Report dated November 6, 2013 Coeur's 100% owned Rochester mine has produced more
than 134 million ounces of silver and 1.5 million ounces of gold from 1986 to August 2013. Rochester recovered 1.9 million silver
ounces and 21,894 gold ounces year to date through August 31, 2013.
Effective
September 16, 2013 proven and probable reserves totaled approximately 86 million silver ounces and 605,000 gold ounces, with additional
measured and indicated resources of 69.3 million silver ounces and 560,000 gold ounces, and inferred resources were 26.2 million
silver ounces and 105,000 gold ounces.
| 15.2 | Lincoln
Hill Property |
The
Lincoln Hill gold and silver project is located approximately 3mi northeast of the Spring Valley project near Lovelock, Nevada.
According
to the Rye Patch Gold Corp. (Rye Patch) website, 2013, the 4.5mi2 project is 100% owned by Rye Patch. The project status
is at exploration stage with reported resources.
Effective
September 2012, current measured and indicated resources contain 9.6 million ounces of silver and 334,000 ounces of gold at a
gold grade of 0.395 g/t. Inferred resources contain 6.2 million ounces of silver and 165,000 ounces of gold at a gold grade of
0.36 g/t.
The
Moonlight gold and silver project is located north of the Spring Valley Project, northeast of Lovelock, Nevada. The project status
is that of an exploration project.
According
to the Terraco Gold Corp. (Terraco) website, 2013, the Moonlight Project is 100% owned by Terraco and comprises 13mi2.
To date, Terraco has completed an aero-magnetic survey of the project area, collected and analyzed more than 400 rock samples,
and drilled over 40 reverse-circulation drill holes ranging in depth from 400 to 800 feet, partially testing only a few of the
target areas. There are no reported resources or reserves. The adjacent properties discussed above do not have shared resources
and are not necessarily indicative of the resources of the Spring Valley Project.
September 9, 2014 | 98 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 16. | OTHER
RELEVANT DATA AND INFORMATION |
Gustavson
knows of no additional relevant
data or information that is not contained within this report.
| 17. | INTERPRETATION
AND CONCLUSIONS |
There
are no known environmental liabilities on the Spring Valley project.
| 17.2 | Geology
and Deposit Type |
The
Spring Valley deposit is hosted within structurally prepared zones within a high-potassium porphyry intrusion and the overlying
felsic volcanic rocks. Primary mineralizing fluid flow is related to steeply dipping, N20E to N30E- trending, deep-seated faults.
Mineral emplacement is localized within structural preparation along these faults, as well as on contact horizons, deformation
structures, and within permissive host rocks within the local graben /basin. The mineralization is associated with relatively
thin, crystalline quartz veins that have large alteration selvages. In areas of dense quartz veining, the alteration selvages
coalesce into regions of pervasively altered and veined rock.
| 17.3 | Exploration,
Drilling, and Analytical |
The
property has been explored using a variety of techniques including mapping, geophysical surveys, and geochemical sampling. The
Spring Valley resource area has been drilled with a total of 672 holes totaling 603,731 feet, including 531 Reverse Circulation
(RC) drill holes totaling 428,500 feet and 141 diamond core holes totaling 173,011 feet.
All
drill intervals were first assayed by a 30 gram fire assay and mineralized intervals have been systematically re-assayed using
MSFA. Where available, the MSFA numbers were utilized in the resource estimate. The project data is stored in a secure database.
Assay and geology data have been checked for accuracy for all programs prior to 2009, and spot checked in the Barrick programs
from 2009 through 2013.
Gustavson
is of the opinion that exploration activities, drilling, and analytical procedures are being conducted in manner that meets or
exceeds industry best practice.
| 17.4 | Quality
Assurance/Quality Control |
Gustavson
has reviewed the QA/QC assay programs and believes the programs provide adequate confidence in the data. Sample standard failures
and the samples associated with erroneous blank samples
have been reanalyzed prior to the completion of this Report and the results are comparable to the original assay.
September 9, 2014 | 99 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| 17.5 | Mineral
Processing and Metallurgical Testing |
The
Spring Valley project mineralized material is potentially amenable to both gravity and heap leach recovery methods.
The
test samples described in the Mineral Processing and Metallurgical testing item of this Technical Report are representative of
the mineralization of the deposit as a whole. As of the date of this report, there are no processing factors that could have a
significant effect on potential extraction.
Gustavson
received original assay certificates in pdf and comma delimited format for all samples included in the current drill hole database.
A random manual check of 1,210 samples within the database against the original certificate revealed 3 total errors. The results
of the analysis indicate that the data imported into the database matches the certificates 99.7% of the time with a confidence
interval of ± 0.56% at a 95% confidence level. Gustavson considers the database adequate for estimation of mineral resource
estimation purposes.
Within
the main portion of the deposit, drill density is within 150 foot spacing, which is adequate to describe measured and indicated
resources, given the variogram and the relative continuity of the resource estimate. However, some areas of the deposit are still
in need of infill holes. Closer spaced drilling in these areas will be required to further upgrade the resource classification.
Additionally there are areas of the project which are open to expansion of extents of mineralization.
Gustavson
recommends the following program to advance the Spring Valley Project towards eventual development. Scoping Study
Gustavson
recommends that Midway complete a scoping study (PEA)on the project to evaluate proposed mining and processing methodologies,
and economics associated with the implementation of various crushing, grinding, heap leach, and gravity recovery circuit combinations.
The PEA should be completed to 43-101 standards and designed to support Midway’s reporting requirements as an independent
issuer.
September 9, 2014 | 100 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Gustavson
understands that Barrick is undertaking systematic relogging of the drilling including trace element analysis in an effort to
refine the geologic and alteration model for the deposit. Gustavson recommends that Midway maintain a level of engagement in the
relogging parameters and process in order to facilitate information transfer and share interpretive insights. The results of this
logging should be considered in any resource updates moving forward.
Existing
metallurgical studies have established that gold at Spring Valley is amenable to cyanidation and to gravity separation. Gustavson
recommends that additional metallurgical studies be completed to evaluate the mix of mineral processing methods best suited for
the mineralization at Spring Valley. The evaluation should include the study of conventional cyanidation at different crush sizes,
as well as the impact of gravity concentration at different steps in the process stream. Testwork should include samples of mineralization
of various alteration and oxidation types.
| 18.3 | Geotechnical
and Hydrogeological Study |
Gustavson
recommends that the existing Golder pit slope analysis and geotechnical studies be reviewed to identify critical geotechnical
areas and to define a geotechnical exploration program to support final design parameters. The Golder geotechnical studies should
form the basis for mine design for the proposed PEA. Additionally, Gustavson recommends that the preliminary hydrogeological studies
be reviewed to determine critical path to support project water needs, secure remaining required water rights, and address potential
pit dewatering concerns. This information should be included in the support of a proposed PEA.Environmental Permitting
Gustavson
recommends that continued work towards meeting the requirements of the State of Nevada to permit a mine on public land should
include in the short term:
| · | Finalize
Class III Cultural Survey report; |
| · | Endangered
Species Act (ESA) and other biological requirements; and |
| · | Ongoing
collection and evaluation of environmental baseline data. |
| · | Installation
and monitoring of groundwater monitoring as recommended for hydrologic models and baseline
studies. |
Continued
exploration diamond core drilling should be targeted in three areas within and adjacent to the immediate mineral resource area:
September 9, 2014 | 101 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
| · | Infill
and step out drilling at the furthest south extent of drilling near the flanks of Gold
Mountain. |
| · | Exploration
drilling along the Wabash fault that bisects the main Spring Valley resource. Extensions
of this fault to both the east and west of the main resource have the potential to host
mineralization that has not yet been tested. Placer gold is common along the trace of
the fault to the SE. |
| · | Infill
and step out drilling targeting the lower Felsic Porphyry unit at depth in the main resource
area, to the northern extents of the project and along the eastern Limerick fault. |
| · | Limited
infill drilling, primarily in those areas where substantial in-pit inferred mineralization
has been identified, or in areas of high potential for pit expansion. |
Under
the terms of the Joint Venture Agreement, Barrick has assumed the responsibility for the exploration and development activities.
The Spring Valley Joint Venture has a project development budget which includes most of the recommendations listed above. The
SVV project is operated by Barrick, with the costs shared by Barrick and Midway Gold, according to the terms of the Joint Venture
Agreement.
Midway
gold has exercised a carry option such that Barrick will carry Midway’s share of the development costs, to be recovered,
along with accrued interest at prime +2%, from 90% of Midway’s share of future production. Under the terms of this carry
option, Barrick shall earn an additional 5% interest (for a total of 75%) in the Spring Valley Venture upon completion of construction
of the mine. Accordingly, Midway’s share of the PFS and exploration costs are estimated as 25% of the total cost
Table
18-1 presents the 2014-2015 development and exploration budgets for the Spring Valley Venture, as well as budget line items for
Midway based on the recommendations described above.
September 9, 2014 | 102 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Table
18-1 Proposed Budget
Midway
Studies & Reports |
Costs
(US$) |
Metallurgical
Studies |
120,000 |
Geotechnical
Review |
30,000 |
Hydrogeologic
Review |
30,000 |
Scoping
Study (PEA) |
150,000 |
Midway
Reporting Subtotal |
$330,000 |
Spring
Valley Venture PreFeasibility Study |
Hydrology
Studies & Test Wells |
2,125,000 |
Geochemistry,
including ARD |
982,000 |
Geotechnical
|
500,000 |
Metallurgy |
1,070,000 |
Mine
Planning and Site Design |
700,000 |
Permit
Development |
150,000 |
Archaeological,
Community & Related |
285,000 |
Environmental
Studies |
875,000 |
Land
& Water Rights |
3,100,000 |
Condemnation
Drilling |
500,000 |
Subtotal |
$
10,287,000 |
Midway
Share at 25% |
$
2,571,750 |
Spring
Valley Venture Exploration |
Exploration
Program 2014 - 2015 |
12,000,000 |
Subtotal |
$
12,000,000 |
Midway
Share at 25% |
$
3,000,000 |
Total
Budget (Midway Share) |
Total
Budget |
$5,901,750 |
September 9, 2014 | 103 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Ashleman,
J.C. 2007. Geologic Map of the Central Part of the Spring Valley Project, Pershing County, Nevada. s.l.: Midway Gold
Corp., 2007. Unpublished Consultants Report.
BLM.
2007. Midway Resources Inc. Spring Valley Exploration Project, Pershing County Nevada. s.l.: Winnemucca Field Office,
Bureau of Land Management, 2007. Environmental Assessment NV-020-07-EA-02.
Coeur
Mining. Rochester Mine, Lovelock Nevada, USA, Technical Report, November 6, 2013
Francois-Bongarcon,
D. 2007. Spring Valley Sampling. s.l.: AMEC E&C Services, 2007. Report for Midway Gold Corp., September 2007.
Griffith,
D. and Ristorcelli, S., 2004. Updated Summary Report on the Spring Valley Property, Pershing County Nevada. s.l.: Report
Prepared for Midway Gold Corp. by Mine Development Associates, September 2004.
Johnson,
M. 1977. Geology and Mineral Deposits of Pershing County, Nevada. s.l.: Nevada, 1977.
LeLacheur,
E., Harris, D., Mosch, D., Edelen, J., McMillin, S., 2009, Spring Valley Project, Nevada, NI 43-101 Technical Report:
Prepared by Midway Resources Inc. for Midway Gold Corp., March, 2009.
Neal,
W. S. 2004. Geology and Mineralization of the Spring Valley Project. s.l.: Midway Gold Corp., 2004. Unpublished Company
Report, August 2004.
Pitard,
F.F. 2004. Review of Sampling Systems and Sampling Practices at the Spring Valley Exploration Project. s.l.: Francis
Pitard Sampling Consultants, Broomfield, Colorado, 2004. Report Prepared for Global Geologic Services, March 2004.
Ristorcelli,
S., 2003. Summary Report on the Spring Valley Property, Pershing County, Nevada. s.l.: Prepared for Midway Gold Corp.
by Mine Development Associates Report August 2003.
ryepatchgold.com.
2014
Scott
E. Wilson Consulting, Inc. Technical Report, Rye Patch Gold Corp., Lincoln Hill Property, Pershing County, Nevada, USA,
September 17, 2012
September 9, 2014 | 104 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Stiles,
C.A. 2008. Spring Valley Project 2007 Annual Exploration Progress Report. s.l.: Midway Gold Corp., 2008. Unpublished
Company Report, January, 2008.
terracogold.com.
2013
TGC
Holdings Ltd. NI 43-101 Technical Report on the Moonlight Project, Pershing County, Nevada, USA, December
15, 2010
Wakefield,
T. and Kuhl, T., 2008. NI-43-101 Technical Report, Spring Valley Property, Pershing County Nevada. s.l.: Report Prepared
for Midway Gold Corp. by AMEC E&C Services, March, 2008.
Wakefield,
T. and Seibel, G., 2006. NI-43-101 Technical Report, Spring Valley Property, Pershing County Nevada. s.l.: Report Prepared
for Midway Gold Corp. by AMEC E&C Services, June, 2006.
Wallace,
R.E., Tatlock, D.B., Silberling, N.J., and Irwin, W.P. 1969. Geologic Map of the Unionville Quadrangle, Pershing County,
Nevada. s.l.: United States Geological Survey, 1969. MAP GQ-820.
Watson,
J., 2010, Spring Valley Project, 2009 Annual Report of Operations: Barrick/Midway Resources Inc., Unpublished
Company Report, June, 2010.
Watson,
J., 2011, Spring Valley Project, 2010 Annual Report of Operations: Barrick/Midway Resources Inc., Unpublished
Company Report, January, 2001.
Wright,
J .L. 2004. Spring Valley Property, CSMAT Survey, MapInfo Database. s.l.: J.L. Wright Geophysics, February 2004, 2004.
Report for Midway Gold Corp.
—.
2006. Spring Valley Property Gravity Compilation. s.l.: J.L. Wright Geophysics, 2006. Report for Midway Gold Corp.,
May 2006.
—.
2005. Spring Valley Property Ground Magnetics and Gravity Surveys. s.l.: J.L. Wright Geophysics, 2005. Report for Midway
Gold Corp., April 2005.
September 9, 2014 | 105 | ![](image_029.jpg)
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Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Appendix
A: Claims List Exhibit
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC140862 |
HMS
#4 |
106/179 |
12/5/1979 |
NMC140863 |
HMS
#5 |
106/180 |
12/5/1979 |
NMC140864 |
HMS
#6 |
106/181 |
12/5/1979 |
NMC140941 |
HMS
#84 |
106/258 |
1/24/1980 |
NMC140942 |
HMS
#85 |
106/259 |
1/24/1980 |
NMC140943 |
HMS
#86 |
106/260 |
1/25/1980 |
NMC140944 |
HMS
#87 |
106/261 |
1/25/1980 |
NMC349508 |
SDB
#1 |
173/127 |
9/5/1985 |
NMC349509 |
SDB
#2 |
173/128 |
9/5/1985 |
NMC349510 |
SDB
#3 |
173/129 |
9/5/1985 |
NMC349511 |
SDB
#4 |
173/130 |
9/5/1985 |
NMC349512 |
SDB
#5 |
173/131 |
9/6/1985 |
NMC349513 |
SDB
#6 |
173/132 |
9/6/1985 |
NMC349514 |
SDB
#7 |
173/133 |
9/6/1985 |
NMC349515 |
SDB
#8 |
173/134 |
9/6/1985 |
NMC364282 |
IDA
#12 |
177/124 |
3/11/1986 |
NMC364283 |
IDA
#13 |
177/125 |
3/11/1986 |
NMC364284 |
IDA
#14 |
177/126 |
3/11/1986 |
NMC364285 |
IDA
#15 |
177/127 |
3/11/1986 |
NMC364286 |
IDA
#16 |
177/128 |
3/11/1986 |
NMC364287 |
IDA
#17 |
177/129 |
3/11/1986 |
NMC364288 |
IDA
#18 |
177/130 |
3/11/1986 |
NMC364289 |
IDA
#19 |
177/131 |
3/11/1986 |
NMC364290 |
IDA
#20 |
177/132 |
3/11/1986 |
NMC364291 |
IDA
#21 |
177/133 |
3/11/1986 |
NMC364292 |
IDA
#22 |
177/134 |
3/11/1986 |
NMC364293 |
IDA
#23 |
177/135 |
3/11/1986 |
NMC364295 |
IDA
#25 |
177/137 |
3/11/1986 |
NMC364363 |
SHO
#3 |
177/205 |
3/19/1986 |
NMC364364 |
SHO
#4 |
177/206 |
3/18/1986 |
NMC364365 |
SHO
#5 |
177/207 |
3/18/1986 |
NMC364366 |
SHO
#6 |
177/208 |
3/20/1986 |
NMC364367 |
SHO
#7 |
177/209 |
3/20/1986 |
NMC364368 |
SHO
#8 |
177/210 |
3/20/1986 |
NMC364369 |
SHO
#9 |
177/211 |
3/20/1986 |
NMC364370 |
SHO
#10 |
177/212 |
3/20/1986 |
NMC364371 |
SHO
#11 |
177/213 |
3/20/1986 |
September 9, 2014 | 106 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC364372 |
SHO
#12 |
177/214 |
3/20/1986 |
NMC364373 |
SHO
#13 |
177/215 |
3/20/1986 |
NMC364374 |
SHO
#14 |
177/216 |
3/20/1986 |
NMC364375 |
SHO
#15 |
177/217 |
3/20/1986 |
NMC364376 |
SHO
#16 |
177/218 |
3/20/1986 |
NMC364377 |
SHO
#17 |
177/219 |
3/20/1986 |
NMC364378 |
SHO
#18 |
177/220 |
3/20/1986 |
NMC364379 |
SHO
#19 |
177/221 |
3/20/1986 |
NMC364380 |
SHO
#20 |
177/222 |
3/20/1986 |
NMC364384 |
SHO
#24 |
177/226 |
3/19/1986 |
NMC364385 |
SHO
#25 |
177/227 |
3/19/1986 |
NMC364386 |
SHO
#26 |
177/228 |
3/19/1986 |
NMC364387 |
SHO
#27 |
177/229 |
3/19/1986 |
NMC364388 |
SHO
#28 |
177/230 |
3/19/1986 |
NMC364389 |
SHO
#29 |
177/231 |
3/19/1986 |
NMC364390 |
SHO
#30 |
177/232 |
3/19/1986 |
NMC364391 |
SHO
#31 |
177/233 |
3/19/1986 |
NMC364392 |
SHO
#32 |
177/234 |
3/18/1986 |
NMC364393 |
SHO
#33 |
177/235 |
3/19/1986 |
NMC364394 |
SHO
#34 |
177/236 |
3/19/1986 |
NMC364395 |
SHO
#35 |
177/237 |
3/19/1986 |
NMC364396 |
SHO
#36 |
177/238 |
3/19/1986 |
NMC364397 |
SHO
#37 |
177/239 |
3/19/1986 |
NMC364398 |
SHO
#38 |
177/240 |
3/19/1986 |
NMC364399 |
SHO
#39 |
177/241 |
3/19/1986 |
NMC364400 |
SHO
#40 |
177/242 |
3/19/1986 |
NMC364401 |
SHO
#41 |
177/243 |
3/19/1986 |
NMC364402 |
SHO
#42 |
177/244 |
3/19/1986 |
NMC364403 |
SHO
#43 |
177/245 |
3/19/1986 |
NMC364404 |
SHO
#44 |
177/246 |
3/19/1986 |
NMC364405 |
SHO
#45 |
177/247 |
3/19/1986 |
NMC364406 |
SHO
#46 |
177/248 |
3/19/1986 |
NMC364407 |
SHO
#47 |
177/249 |
3/19/1986 |
NMC364408 |
SHO
#48 |
177/250 |
3/19/1986 |
NMC364409 |
SHO
#49 |
177/251 |
3/19/1986 |
NMC364410 |
SHO
#50 |
177/252 |
3/19/1986 |
NMC364411 |
SHO
#51 |
177/253 |
3/19/1986 |
NMC364412 |
SHO
#52 |
177/254 |
3/19/1986 |
September 9, 2014 | 107 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC364413 |
SHO
#53 |
177/255 |
3/19/1986 |
NMC364414 |
SHO
#54 |
177/256 |
3/19/1986 |
NMC364415 |
SHO
#55 |
177/257 |
3/19/1986 |
NMC364416 |
SHO
#56 |
177/258 |
3/19/1986 |
NMC364417 |
SHO
#57 |
177/259 |
3/19/1986 |
NMC364418 |
SHO
#58 |
177/260 |
3/20/1986 |
NMC364419 |
SHO
#59 |
177/261 |
3/20/1986 |
NMC371072 |
Porcupine
#1 |
180/24 |
6/20/1986 |
NMC371073 |
Porcupine
#2 |
180/25 |
6/20/1986 |
NMC371074 |
Porcupine
#3 |
180/26 |
6/20/1986 |
NMC371075 |
Porcupine
#4 |
180/27 |
6/20/1986 |
NMC371076 |
Porcupine
#5 |
180/28 |
6/20/1986 |
NMC371077 |
Porcupine
#6 |
180/29 |
6/20/1986 |
NMC371078 |
Porcupine
#7 |
180/30 |
6/20/1986 |
NMC371079 |
Porcupine
#8 |
180/31 |
6/20/1986 |
NMC371080 |
Porcupine
#9 |
180/32 |
6/20/1986 |
NMC371081 |
Porcupine
#10 |
180/33 |
6/20/1986 |
NMC371082 |
Porcupine
#11 |
180/34 |
6/20/1986 |
NMC39574 |
Crown
Hills #7 |
42/510 |
8/22/1972 |
NMC39593 |
Crown
Hills #8 |
42/511 |
8/22/1972 |
NMC39594 |
Crown
Hills #9 |
42/512 |
8/22/1972 |
NMC39595 |
Crown
Hills #10 |
42/513 |
8/22/1972 |
NMC662873 |
Porcupine
#28 |
267/567 |
8/27/1992 |
NMC748203 |
SV
8 |
304/446 |
6/5/1996 |
NMC748205 |
SV
10 |
304/448 |
6/5/1996 |
NMC748207 |
SV
12 |
304/450 |
6/5/1996 |
NMC748209 |
SV
14 |
304/452 |
6/5/1996 |
NMC748211 |
SV
16 |
304/454 |
6/5/1996 |
NMC748213 |
SV
18 |
304/456 |
6/5/1996 |
NMC748215 |
SV
20 |
304/458 |
6/5/1996 |
NMC748222 |
SV
27 |
304/465 |
6/5/1996 |
NMC748224 |
SV
29 |
304/467 |
6/5/1996 |
NMC748225 |
SV
30 |
304/468 |
6/5/1996 |
NMC748226 |
SV
31 |
304/469 |
6/5/1996 |
NMC748227 |
SV
32 |
304/470 |
6/5/1996 |
NMC748228 |
SV
33 |
304/471 |
6/5/1996 |
NMC748229 |
SV
34 |
304/472 |
6/5/1996 |
September 9, 2014 | 108 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC748230 |
SV
35 |
304/473 |
6/5/1996 |
NMC748231 |
SV
36 |
304/474 |
6/5/1996 |
NMC748232 |
SV
37 |
304/475 |
6/5/1996 |
NMC748233 |
SV
38 |
304/476 |
6/5/1996 |
NMC748234 |
SV
39 |
304/477 |
6/5/1996 |
NMC748235 |
SV
40 |
304/478 |
6/5/1996 |
NMC748236 |
SV
41 |
304/479 |
6/5/1996 |
NMC748237 |
SV
42 |
304/480 |
6/5/1996 |
NMC748238 |
SV
43 |
304/481 |
6/5/1996 |
NMC748239 |
SV
44 |
304/482 |
6/5/1996 |
NMC780754 |
Freedom
#2 |
325/50 |
11/3/1997 |
NMC785920 |
Freedom
#1 |
325/522 |
11/3/1997 |
NMC811224 |
Duffy
#1 |
348/308 |
1/4/2000 |
NMC811225 |
Duffy
#2 |
348/309 |
1/4/2000 |
NMC817628 |
SV
1 |
352/678 |
6/21/2000 |
NMC817629 |
SV
2 |
352/679 |
6/21/2000 |
NMC817630 |
SV
3 |
352/680 |
6/21/2000 |
NMC817631 |
SV
4 |
352/681 |
6/21/2000 |
NMC817632 |
SV
5 |
352/682 |
6/21/2000 |
NMC817633 |
SV
6 |
352/683 |
6/21/2000 |
NMC817634 |
SV
7 |
352/684 |
6/21/2000 |
NMC817635 |
SV
9 |
352/685 |
6/21/2000 |
NMC817636 |
SV
11 |
352/686 |
6/21/2000 |
NMC817637 |
SV
13 |
352/687 |
6/21/2000 |
NMC817638 |
SV
15 |
352/688 |
6/21/2000 |
NMC817639 |
SV
17 |
352/689 |
6/21/2000 |
NMC817640 |
SV
19 |
352/690 |
6/21/2000 |
NMC817641 |
SV
21 |
352/691 |
6/21/2000 |
NMC817642 |
SV
22 |
352/692 |
6/21/2000 |
NMC817643 |
SV
23 |
352/693 |
6/21/2000 |
NMC817644 |
SV
24 |
352/694 |
6/21/2000 |
NMC817645 |
SV
25 |
352/695 |
6/21/2000 |
NMC817646 |
SV
26 |
352/699 |
6/21/2000 |
NMC817647 |
SV
28 |
352/697 |
6/21/2000 |
NMC825454 |
SV
51 |
362/325 |
10/4/2001 |
NMC825455 |
SV
52 |
362/326 |
10/4/2001 |
NMC825456 |
SV
53 |
362/327 |
10/4/2001 |
NMC825457 |
SV
54 |
362/328 |
10/4/2001 |
September 9, 2014 | 109 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC832254 |
SV
60 |
369/571 |
8/10/2002 |
NMC832255 |
SV
61 |
369/572 |
8/10/2002 |
NMC832256 |
SV
62 |
369/573 |
8/10/2002 |
NMC832257 |
SV
63 |
369/574 |
8/10/2002 |
NMC832258 |
SV
64 |
369/575 |
8/10/2002 |
NMC832259 |
SV
65 |
369/576 |
8/10/2002 |
NMC832260 |
SV
66 |
369/577 |
8/10/2002 |
NMC832261 |
SV
67 |
369/578 |
8/10/2002 |
NMC832262 |
SV
68 |
369/579 |
8/10/2002 |
NMC832263 |
SV
69 |
369/580 |
8/10/2002 |
NMC832264 |
SV
70 |
369/581 |
8/10/2002 |
NMC832265 |
SV
71 |
369/582 |
8/10/2002 |
NMC832266 |
SV
72 |
369/583 |
8/13/2002 |
NMC832267 |
SV
73 |
369/584 |
8/13/2002 |
NMC832268 |
SV
74 |
369/585 |
8/13/2002 |
NMC832269 |
SV
75 |
369/586 |
8/13/2002 |
NMC832270 |
SV
76 |
369/587 |
8/9/2002 |
NMC832271 |
SV
77 |
369/588 |
8/9/2002 |
NMC832272 |
SV
78 |
369/589 |
8/9/2002 |
NMC832273 |
SV
79 |
369/590 |
8/9/2002 |
NMC832274 |
SV
80 |
369/591 |
8/30/2002 |
NMC832275 |
SV
81 |
369/592 |
8/30/2002 |
NMC832276 |
SV
82 |
369/593 |
8/30/2002 |
NMC832277 |
SV
83 |
369/594 |
8/30/2002 |
NMC860702 |
SV
45 |
380/569 |
11/9/2003 |
NMC860703 |
SV
46 |
380/570 |
11/9/2003 |
NMC860704 |
SV
47 |
380/571 |
11/9/2003 |
NMC860705 |
SV
48 |
380/572 |
11/9/2003 |
NMC860706 |
SV
49 |
380/573 |
11/9/2003 |
NMC860707 |
SV
50 |
380/574 |
11/9/2003 |
NMC860708 |
SV
51 |
380/575 |
11/9/2003 |
NMC860709 |
SV
52 |
380/576 |
11/9/2003 |
NMC860710 |
SV
53 |
380/577 |
11/9/2003 |
NMC860711 |
SV
54 |
380/578 |
11/9/2003 |
NMC860712 |
SV
55 |
380/579 |
11/9/2003 |
NMC860713 |
SV
56 |
380/580 |
11/9/2003 |
NMC860714 |
SV
57 |
380/581 |
11/9/2003 |
NMC860715 |
SV
58 |
380/582 |
11/9/2003 |
September 9, 2014 | 110 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC860716 |
SV
59 |
380/583 |
11/9/2003 |
NMC860717 |
SV
60 |
380/584 |
11/9/2003 |
NMC860718 |
SV
61 |
380/585 |
11/9/2003 |
NMC860719 |
SV
62 |
380/586 |
11/9/2003 |
NMC860720 |
SV
63 |
380/587 |
11/9/2003 |
NMC860721 |
SV
64 |
380/588 |
11/9/2003 |
NMC860722 |
SV
65 |
380/589 |
11/9/2003 |
NMC860723 |
SV
66 |
380/590 |
11/9/2003 |
NMC860724 |
SV
67 |
380/591 |
11/9/2003 |
NMC860725 |
SV
68 |
380/592 |
11/9/2003 |
NMC860726 |
SV
69 |
380/593 |
11/9/2003 |
NMC860727 |
SV
70 |
380/594 |
11/9/2003 |
NMC860728 |
SV
71 |
380/595 |
11/9/2003 |
NMC860729 |
SV
72 |
380/596 |
11/9/2003 |
NMC860730 |
SV
73 |
380/597 |
11/9/2003 |
NMC860731 |
SV
74 |
380/598 |
11/9/2003 |
NMC860732 |
SV
75 |
380/599 |
11/9/2003 |
NMC860733 |
SV
76 |
380/600 |
11/9/2003 |
NMC860734 |
SV
77 |
380/601 |
11/9/2003 |
NMC860735 |
SV
78 |
380/602 |
11/9/2003 |
NMC872357 |
SV
84 |
384/488 |
5/12/2004 |
NMC872358 |
SV
85 |
384/489 |
5/12/2004 |
NMC872359 |
SV
86 |
384/490 |
5/12/2004 |
NMC872360 |
SV
87 |
384/491 |
5/12/2004 |
NMC872361 |
SV
88 |
384/492 |
5/12/2004 |
NMC872362 |
SV
89 |
384/493 |
5/12/2004 |
NMC872363 |
SV
90 |
384/494 |
5/12/2004 |
NMC872364 |
SV
91 |
384/495 |
5/12/2004 |
NMC872365 |
SV
92 |
384/496 |
5/12/2004 |
NMC872366 |
SV
93 |
384/497 |
5/12/2004 |
NMC872367 |
SV
94 |
384/498 |
5/12/2004 |
NMC872368 |
SV
95 |
384/499 |
5/12/2004 |
NMC872369 |
SV
96 |
384/500 |
5/12/2004 |
NMC872370 |
SV
97 |
384/501 |
5/12/2004 |
NMC872371 |
SV
98 |
384/502 |
5/12/2004 |
NMC872372 |
SV
99 |
384/503 |
5/12/2004 |
NMC887449 |
SV
100 |
390/17 |
10/19/2004 |
NMC887450 |
SV
101 |
390/18 |
10/18/2004 |
September 9, 2014 | 111 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC887451 |
SV
102 |
390/19 |
10/18/2004 |
NMC887452 |
SV
103 |
390/20 |
10/18/2004 |
NMC887453 |
SV
104 |
390/21 |
10/18/2004 |
NMC887454 |
SV
105 |
390/22 |
10/18/2004 |
NMC887455 |
SV
106 |
390/23 |
10/18/2004 |
NMC887456 |
SV
107 |
390/24 |
10/18/2004 |
NMC887457 |
SV
108 |
390/25 |
10/18/2004 |
NMC887458 |
SV
109 |
390/26 |
10/18/2004 |
NMC887459 |
SV
110 |
390/27 |
10/18/2004 |
NMC887460 |
SV
111 |
390/28 |
10/18/2004 |
NMC887461 |
SV
112 |
390/29 |
10/18/2004 |
NMC887462 |
SV
113 |
390/30 |
10/18/2004 |
NMC887463 |
SV
114 |
390/31 |
10/18/2004 |
NMC887464 |
SV
115 |
390/32 |
10/18/2004 |
NMC887465 |
SV
116 |
390/33 |
10/18/2004 |
NMC887466 |
SV
117 |
390/34 |
10/18/2004 |
NMC887467 |
SV
118 |
390/35 |
10/18/2004 |
NMC887468 |
SV
119 |
390/36 |
10/18/2004 |
NMC887469 |
SV
120 |
390/37 |
10/18/2004 |
NMC887470 |
SV
121 |
390/38 |
10/19/2004 |
NMC887471 |
SV
122 |
390/39 |
10/19/2004 |
NMC887472 |
SV
123 |
390/40 |
10/19/2004 |
NMC887473 |
SV
124 |
390/41 |
10/19/2004 |
NMC887474 |
SV
125 |
390/42 |
10/19/2004 |
NMC889143 |
SV
126 |
390/437 |
11/10/2004 |
NMC889144 |
SV
127 |
390/438 |
11/10/2004 |
NMC889145 |
SV
128 |
390/439 |
11/15/2004 |
NMC889146 |
SV
129 |
390/440 |
11/15/2004 |
NMC889147 |
SV
130 |
390/441 |
11/15/2004 |
NMC889148 |
SV
131 |
390/442 |
11/15/2004 |
NMC889149 |
SV
132 |
390/443 |
11/15/2004 |
NMC889150 |
SV
133 |
390/444 |
11/15/2004 |
NMC889151 |
SV
134 |
390/445 |
11/15/2004 |
NMC889152 |
SV
135 |
390/446 |
11/15/2004 |
NMC906917 |
SVP
1 |
398/285 |
6/16/2005 |
NMC906918 |
SVP
2 |
398/286 |
6/16/2005 |
NMC906919 |
SVP
3 |
398/287 |
6/16/2005 |
NMC906920 |
SVP
4 |
398/288 |
6/16/2005 |
September 9, 2014 | 112 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC906921 |
SVP
5 |
398/289 |
6/16/2005 |
NMC906922 |
SVP
6 |
398/290 |
6/16/2005 |
NMC906923 |
SVP
7 |
398/291 |
6/16/2005 |
NMC906924 |
SVP
8 |
398/292 |
6/16/2005 |
NMC906925 |
SVP
9 |
398/293 |
6/16/2005 |
NMC906926 |
SVP
10 |
398/294 |
6/16/2005 |
NMC906927 |
SVP
11 |
398/295 |
6/16/2005 |
NMC906928 |
SVP
12 |
398/296 |
6/16/2005 |
NMC906929 |
SVP
13 |
398/297 |
6/16/2005 |
NMC906930 |
SVP
14 |
398/298 |
6/16/2005 |
NMC906931 |
SVP
15 |
398/299 |
6/16/2005 |
NMC906932 |
SVP
16 |
398/300 |
6/16/2005 |
NMC906933 |
SVP
17 |
398/301 |
6/16/2005 |
NMC906934 |
SVP
18 |
398/302 |
6/16/2005 |
NMC906935 |
SVP
19 |
398/303 |
6/16/2005 |
NMC906936 |
SVP
20 |
398/304 |
6/16/2005 |
NMC906937 |
SVP
21 |
398/305 |
6/16/2005 |
NMC906938 |
SVP
22 |
398/306 |
6/16/2005 |
NMC906939 |
SVP
23 |
398/307 |
6/16/2005 |
NMC906940 |
SVP
24 |
398/308 |
6/16/2005 |
NMC906941 |
SVP
25 |
398/309 |
6/16/2005 |
NMC906942 |
SVP
26 |
398/310 |
6/16/2005 |
NMC906943 |
SVP
27 |
398/311 |
6/16/2005 |
NMC906944 |
SVP
28 |
398/312 |
6/16/2005 |
NMC906945 |
SVP
29 |
398/313 |
6/16/2005 |
NMC906946 |
SVP
30 |
398/314 |
6/16/2005 |
NMC906947 |
SVP
31 |
398/315 |
6/16/2005 |
NMC906948 |
SVP
32 |
398/316 |
6/16/2005 |
NMC906949 |
SVP
33 |
398/317 |
6/16/2005 |
NMC906950 |
SVP
34 |
398/318 |
6/16/2005 |
NMC906951 |
SVP
35 |
398/319 |
6/16/2005 |
NMC906952 |
SVP
36 |
398/320 |
6/16/2005 |
NMC906953 |
SVP
37 |
398/321 |
6/16/2005 |
NMC906954 |
SVP
38 |
398/322 |
6/16/2005 |
NMC906955 |
SVP
39 |
398/323 |
6/16/2005 |
NMC906956 |
SVP
40 |
398/324 |
6/16/2005 |
NMC906957 |
SV
136 |
398/281 |
6/9/2005 |
NMC906958 |
SV
137 |
398/282 |
6/9/2005 |
September 9, 2014 | 113 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC906959 |
SV
138 |
398/283 |
6/9/2005 |
NMC906960 |
SV
139 |
398/284 |
6/9/2005 |
NMC925039 |
SV
146 |
407/352 |
2/11/2006 |
NMC925040 |
SV
147 |
407/353 |
2/11/2006 |
NMC925041 |
SV
148 |
407/354 |
2/11/2006 |
NMC925042 |
SV
149 |
407/355 |
2/11/2006 |
NMC925043 |
SV
150 |
407/356 |
2/11/2006 |
NMC925044 |
SV
151 |
407/357 |
2/11/2006 |
NMC925045 |
SV
152 |
407/358 |
2/11/2006 |
NMC925046 |
SV
153 |
407/359 |
2/11/2006 |
NMC925047 |
SV
154 |
407/360 |
2/11/2006 |
NMC925048 |
SV
155 |
407/361 |
2/9/2006 |
NMC925049 |
SV
156 |
407/362 |
2/9/2006 |
NMC925050 |
SV
157 |
407/363 |
2/9/2006 |
NMC925051 |
SV
158 |
407/364 |
2/9/2006 |
NMC925052 |
SV
159 |
407/365 |
2/9/2006 |
NMC925053 |
SV
160 |
407/366 |
2/9/2006 |
NMC925054 |
SV
161 |
407/367 |
2/9/2006 |
NMC925055 |
SV
162 |
407/368 |
2/9/2006 |
NMC925056 |
SV
163 |
407/369 |
2/9/2006 |
NMC925057 |
SV
164 |
407/370 |
2/9/2006 |
NMC925058 |
SV
165 |
407/371 |
2/9/2006 |
NMC925059 |
SV
166 |
407/372 |
2/9/2006 |
NMC925060 |
SV
167 |
407/373 |
2/9/2006 |
NMC925061 |
SV
168 |
407/374 |
2/9/2006 |
NMC925062 |
SV
169 |
407/375 |
2/9/2006 |
NMC925063 |
SV
170 |
407/376 |
2/9/2006 |
NMC925064 |
SV
171 |
407/377 |
2/9/2006 |
NMC925065 |
SV
172 |
407/378 |
2/9/2006 |
NMC925066 |
SV
173 |
407/379 |
2/9/2006 |
NMC925067 |
SV
174 |
407/380 |
2/9/2006 |
NMC925068 |
SV
175 |
407/381 |
2/9/2006 |
NMC925069 |
SV
176 |
407/382 |
2/9/2006 |
NMC925071 |
SV
178 |
407/384 |
2/9/2006 |
NMC925073 |
SV
180 |
407/386 |
2/9/2006 |
NMC925075 |
SV
182 |
407/388 |
2/9/2006 |
NMC925077 |
SV
184 |
407/390 |
2/9/2006 |
NMC925078 |
SV
185 |
407/391 |
2/11/2006 |
September 9, 2014 | 114 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC925079 |
SV
186 |
407/392 |
2/11/2006 |
NMC925080 |
SV
187 |
407/393 |
2/10/2006 |
NMC925081 |
SV
188 |
407/394 |
2/10/2006 |
NMC925082 |
SV
189 |
407/395 |
2/10/2006 |
NMC925083 |
SV
190 |
407/396 |
2/10/2006 |
NMC925084 |
SV
191 |
407/397 |
2/10/2006 |
NMC925085 |
SV
192 |
407/398 |
2/10/2006 |
NMC925086 |
SV
193 |
407/399 |
2/10/2006 |
NMC925087 |
SV
194 |
407/400 |
2/10/2006 |
NMC925088 |
SV
195 |
407/401 |
2/10/2006 |
NMC925089 |
SV
196 |
407/402 |
2/10/2006 |
NMC925090 |
SV
197 |
407/403 |
2/10/2006 |
NMC925091 |
SV
198 |
407/404 |
2/10/2006 |
NMC925092 |
SV
199 |
407/405 |
2/10/2006 |
NMC925093 |
SV
200 |
407/406 |
2/10/2006 |
NMC925094 |
SV
201 |
407/407 |
2/10/2006 |
NMC925095 |
SV
202 |
407/408 |
2/10/2006 |
NMC925096 |
SV
203 |
407/409 |
2/10/2006 |
NMC925097 |
SV
204 |
407/410 |
2/10/2006 |
NMC925098 |
SV
205 |
407/411 |
2/10/2006 |
NMC925099 |
SV
206 |
407/412 |
2/10/2006 |
NMC925100 |
SV
207 |
407/413 |
2/10/2006 |
NMC925101 |
SV
208 |
407/414 |
2/10/2006 |
NMC925102 |
SV
209 |
407/415 |
2/10/2006 |
NMC925103 |
SV
210 |
407/416 |
2/10/2006 |
NMC925104 |
SV
211 |
407/417 |
2/10/2006 |
NMC925105 |
SV
212 |
407/418 |
2/11/2006 |
NMC925106 |
SV
213 |
407/419 |
2/11/2006 |
NMC925108 |
SV
215 |
407/421 |
2/11/2006 |
NMC925109 |
SV
216 |
407/422 |
2/17/2006 |
NMC925110 |
SV
217 |
407/423 |
2/17/2006 |
NMC925111 |
SV
218 |
407/424 |
2/17/2006 |
NMC925112 |
SV
219 |
407/425 |
2/17/2006 |
NMC925113 |
SV
220 |
407/426 |
2/17/2006 |
NMC925114 |
SV
221 |
407/427 |
2/12/2006 |
NMC925115 |
SV
222 |
407/428 |
2/12/2006 |
NMC925116 |
SV
223 |
407/429 |
2/12/2006 |
NMC925117 |
SV
224 |
407/430 |
2/12/2006 |
September 9, 2014 | 115 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC925118 |
SV
225 |
407/431 |
2/12/2006 |
NMC925119 |
SV
226 |
407/432 |
2/12/2006 |
NMC925120 |
SV
227 |
407/433 |
2/12/2006 |
NMC925121 |
SV
228 |
407/434 |
2/12/2006 |
NMC925122 |
SV
229 |
407/435 |
2/12/2006 |
NMC925123 |
SV
230 |
407/436 |
2/12/2006 |
NMC925124 |
SV
231 |
407/437 |
2/12/2006 |
NMC925125 |
SV
232 |
407/438 |
2/12/2006 |
NMC925126 |
SV
233 |
407/439 |
2/12/2006 |
NMC925127 |
SV
234 |
407/440 |
2/12/2006 |
NMC925128 |
SV
235 |
407/441 |
2/12/2006 |
NMC925129 |
SV
236 |
407/442 |
2/12/2006 |
NMC925130 |
SV
237 |
407/443 |
2/12/2006 |
NMC925131 |
SV
238 |
407/444 |
2/12/2006 |
NMC925132 |
SV
239 |
407/445 |
2/12/2006 |
NMC925133 |
SV
240 |
407/446 |
2/12/2006 |
NMC925134 |
SV
241 |
407/447 |
2/12/2006 |
NMC925135 |
SV
242 |
407/448 |
2/12/2006 |
NMC925136 |
SV
243 |
407/449 |
2/12/2006 |
NMC925137 |
SV
244 |
407/450 |
2/12/2006 |
NMC925138 |
SV
245 |
407/451 |
2/13/2006 |
NMC925139 |
SV
246 |
407/452 |
2/13/2006 |
NMC925140 |
SV
247 |
407/453 |
2/13/2006 |
NMC925141 |
SV
248 |
407/454 |
2/13/2006 |
NMC925142 |
SV
249 |
407/455 |
2/13/2006 |
NMC925143 |
SV
250 |
407/456 |
2/13/2006 |
NMC925144 |
SV
251 |
407/457 |
2/13/2006 |
NMC925145 |
SV
252 |
407/458 |
2/13/2006 |
NMC925146 |
SV
253 |
407/459 |
2/12/2006 |
NMC925147 |
SV
254 |
407/460 |
2/12/2006 |
NMC925148 |
SV
255 |
407/461 |
2/12/2006 |
NMC925149 |
SV
256 |
407/462 |
2/17/2006 |
NMC925150 |
SV
257 |
407/463 |
2/17/2006 |
NMC925151 |
SV
258 |
407/464 |
2/17/2006 |
NMC925152 |
SV
259 |
407/465 |
2/17/2006 |
NMC925153 |
SV
260 |
407/466 |
2/17/2006 |
NMC925154 |
SV
261 |
407/467 |
2/17/2006 |
NMC925156 |
SV
277 |
407/469 |
2/14/2006 |
September 9, 2014 | 116 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC925157 |
SV
278 |
407/470 |
2/14/2006 |
NMC925158 |
SV
285 |
407/471 |
2/14/2006 |
NMC925159 |
SV
286 |
407/472 |
2/14/2006 |
NMC925160 |
SV
287 |
407/473 |
2/14/2006 |
NMC925161 |
SV
288 |
407/474 |
2/14/2006 |
NMC925162 |
SV
289 |
407/475 |
2/14/2006 |
NMC925163 |
SV
290 |
407/476 |
2/14/2006 |
NMC925164 |
SV
291 |
407/477 |
4/12/2006 |
NMC925165 |
SV
292 |
407/478 |
4/12/2006 |
NMC925166 |
SV
293 |
407/479 |
2/15/2006 |
NMC925167 |
SV
294 |
407/480 |
2/15/2006 |
NMC925168 |
SV
295 |
407/481 |
2/15/2006 |
NMC925169 |
SV
296 |
407/482 |
2/15/2006 |
NMC925170 |
SV
297 |
407/483 |
2/15/2006 |
NMC925171 |
SV
298 |
407/484 |
2/15/2006 |
NMC925172 |
SV
299 |
407/485 |
2/15/2006 |
NMC925173 |
SV
300 |
407/486 |
2/15/2006 |
NMC925174 |
SV
301 |
407/487 |
2/15/2006 |
NMC925175 |
SV
302 |
407/488 |
2/15/2006 |
NMC925176 |
SV
303 |
407/489 |
2/15/2006 |
NMC925177 |
SV
304 |
407/490 |
2/15/2006 |
NMC925178 |
SV
305 |
407/491 |
2/15/2006 |
NMC925179 |
SV
306 |
407/492 |
2/15/2006 |
NMC925180 |
SV
307 |
407/493 |
2/15/2006 |
NMC925181 |
SV
308 |
407/494 |
2/15/2006 |
NMC925182 |
SV
309 |
407/495 |
2/15/2006 |
NMC925183 |
SV
310 |
407/496 |
2/15/2006 |
NMC925184 |
SV
311 |
407/497 |
2/15/2006 |
NMC925185 |
SV
312 |
407/498 |
2/15/2006 |
NMC925186 |
SV
313 |
407/499 |
2/15/2006 |
NMC925187 |
SV
314 |
407/500 |
2/15/2006 |
NMC925188 |
SV
315 |
407/501 |
2/17/2006 |
NMC925189 |
SV
316 |
407/502 |
2/17/2006 |
NMC925190 |
SV
317 |
407/503 |
2/17/2006 |
NMC925191 |
SV
318 |
407/504 |
2/17/2006 |
NMC925192 |
SV
319 |
407/505 |
2/14/2006 |
NMC925193 |
SV
320 |
407/506 |
2/15/2006 |
NMC925194 |
SV
321 |
407/507 |
2/15/2006 |
September 9, 2014 | 117 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC925195 |
SV
322 |
407/508 |
2/15/2006 |
NMC925196 |
SV
323 |
407/509 |
4/6/2006 |
NMC925197 |
SV
324 |
407/510 |
2/15/2006 |
NMC925198 |
SV
325 |
407/511 |
2/15/2006 |
NMC925199 |
SV
326 |
407/512 |
2/15/2006 |
NMC925200 |
SV
327 |
407/513 |
2/15/2006 |
NMC925201 |
SV
328 |
407/514 |
2/15/2006 |
NMC925202 |
SV
329 |
407/514A |
2/15/2006 |
NMC925203 |
SV
330 |
407/515 |
2/15/2006 |
NMC925204 |
SV
331 |
407/516 |
2/15/2006 |
NMC925205 |
SV
332 |
407/517 |
2/15/2006 |
NMC925206 |
SV
333 |
407/518 |
2/15/2006 |
NMC925207 |
SV
334 |
407/519 |
2/15/2006 |
NMC925208 |
SV
335 |
407/520 |
2/15/2006 |
NMC925209 |
SV
336 |
407/521 |
2/15/2006 |
NMC925210 |
SV
337 |
407/522 |
2/15/2006 |
NMC925211 |
SV
338 |
407/523 |
2/15/2006 |
NMC925212 |
SV
339 |
407/524 |
2/15/2006 |
NMC925213 |
SV
340 |
407/525 |
2/15/2006 |
NMC925214 |
SV
341 |
407/526 |
2/15/2006 |
NMC925215 |
SV
342 |
407/527 |
2/15/2006 |
NMC925216 |
SV
343 |
407/528 |
2/15/2006 |
NMC925217 |
SV
344 |
407/529 |
2/15/2006 |
NMC925218 |
SV
345 |
407/530 |
2/15/2006 |
NMC925219 |
SV
346 |
407/531 |
2/15/2006 |
NMC925220 |
SV
347 |
407/532 |
2/15/2006 |
NMC925221 |
SV
348 |
407/533 |
2/15/2006 |
NMC925222 |
SV
349 |
407/534 |
2/15/2006 |
NMC925223 |
SV
350 |
407/535 |
2/15/2006 |
NMC925224 |
SV
351 |
407/536 |
2/15/2006 |
NMC925225 |
SV
352 |
407/537 |
2/15/2006 |
NMC925226 |
SV
353 |
407/538 |
2/15/2006 |
NMC925227 |
SV
354 |
407/539 |
2/15/2006 |
NMC925228 |
SV
355 |
407/540 |
4/13/2006 |
NMC925229 |
SV
356 |
407/541 |
4/14/2006 |
NMC925230 |
SV
357 |
407/542 |
2/13/2006 |
NMC929379 |
SV
266 |
409/624 |
5/15/2006 |
NMC929380 |
SV
267 |
409/625 |
5/15/2006 |
September 9, 2014 | 118 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC929381 |
SV
268 |
409/626 |
4/14/2006 |
NMC929382 |
SV
269 |
409/627 |
4/14/2006 |
NMC929383 |
SV
270 |
409/628 |
4/14/2006 |
NMC929384 |
SV
271 |
409/629 |
4/14/2006 |
NMC929385 |
SV
272 |
409/630 |
4/14/2006 |
NMC929386 |
SV
273 |
409/631 |
4/14/2006 |
NMC929387 |
SV
274 |
409/632 |
4/14/2006 |
NMC929388 |
SV
275 |
409/633 |
4/14/2006 |
NMC929389 |
SV
276 |
409/634 |
4/14/2006 |
NMC929394 |
SV
283 |
409/639 |
4/12/2006 |
NMC929395 |
SV
284 |
409/640 |
4/12/2006 |
NMC930781 |
PS
1 |
410/362 |
4/20/2006 |
NMC930782 |
PS
2 |
410/363 |
4/20/2006 |
NMC930783 |
PS
3 |
410/364 |
4/20/2006 |
NMC930784 |
PS
4 |
410/365 |
4/20/2006 |
NMC930785 |
PS
5 |
410/366 |
4/20/2006 |
NMC930786 |
PS
6 |
410/367 |
4/20/2006 |
NMC930787 |
PS
7 |
410/368 |
4/20/2006 |
NMC930788 |
PS
8 |
410/369 |
4/20/2006 |
NMC930789 |
PS
9 |
410/370 |
4/20/2006 |
NMC930790 |
PS
10 |
410/371 |
4/20/2006 |
NMC930791 |
PS
11 |
410/372 |
4/20/2006 |
NMC930792 |
PS
12 |
410/373 |
4/20/2006 |
NMC930793 |
PS
13 |
410/374 |
4/20/2006 |
NMC930794 |
PS
14 |
410/375 |
4/20/2006 |
NMC930795 |
PS
15 |
410/376 |
4/20/2006 |
NMC930796 |
PS
16 |
410/377 |
4/20/2006 |
NMC930797 |
PS
17 |
410/378 |
4/20/2006 |
NMC930798 |
PS
18 |
410/379 |
4/20/2006 |
NMC930799 |
PS
19 |
410/380 |
4/20/2006 |
NMC930800 |
PS
20 |
410/381 |
4/20/2006 |
NMC930801 |
PS
21 |
410/382 |
4/20/2006 |
NMC930802 |
PS
22 |
410/383 |
4/20/2006 |
NMC930808 |
PS
28 |
410/389 |
4/20/2006 |
NMC930809 |
PS
29 |
410/390 |
4/20/2006 |
NMC930810 |
PS
30 |
410/391 |
4/20/2006 |
NMC930811 |
PS
31 |
410/392 |
4/20/2006 |
NMC930812 |
PS
32 |
410/393 |
4/20/2006 |
September 9, 2014 | 119 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC930814 |
PS
34 |
410/395 |
5/17/2006 |
NMC930815 |
PS
35 |
410/396 |
5/17/2006 |
NMC930816 |
PS
36 |
410/397 |
5/17/2006 |
NMC930817 |
PS
37 |
410/398 |
5/17/2006 |
NMC930818 |
PS
38 |
410/399 |
5/17/2006 |
NMC930819 |
PS
39 |
410/400 |
5/17/2006 |
NMC930820 |
PS
40 |
410/401 |
5/17/2006 |
NMC930823 |
PS
43 |
410/404 |
4/20/2006 |
NMC930824 |
PS
44 |
410/405 |
4/20/2006 |
NMC930825 |
PS
45 |
410/406 |
4/20/2006 |
NMC930826 |
PS
46 |
410/407 |
4/20/2006 |
NMC930827 |
PS
47 |
410/408 |
4/20/2006 |
NMC930828 |
PS
48 |
410/409 |
4/20/2006 |
NMC930838 |
PS
58 |
410/419 |
4/20/2006 |
NMC930839 |
PS
59 |
410/420 |
4/20/2006 |
NMC930840 |
PS
60 |
410/421 |
4/20/2006 |
NMC930841 |
PS
61 |
410/422 |
4/20/2006 |
NMC930842 |
PS
62 |
410/423 |
4/20/2006 |
NMC930843 |
PS
63 |
410/424 |
4/20/2006 |
NMC954162 |
Dry
1 |
423/200 |
3/26/2007 |
NMC954163 |
Dry
2 |
423/201 |
3/26/2007 |
NMC954164 |
Dry
3 |
423/202 |
3/26/2007 |
NMC954582 |
SSV
142 |
423/203 |
3/29/2007 |
NMC954583 |
SSV
143 |
423/204 |
3/29/2007 |
NMC954584 |
SSV
144 |
423/205 |
3/29/2007 |
NMC954585 |
SSV
370 |
423/206 |
3/29/2007 |
NMC954586 |
SSV
371 |
423/207 |
3/29/2007 |
NMC954587 |
SSV
372 |
423/208 |
3/29/2007 |
NMC954588 |
SSV
373 |
423/209 |
3/29/2007 |
NMC954589 |
SSV
374 |
423/210 |
3/29/2007 |
NMC954590 |
SSV
375 |
423/211 |
3/29/2007 |
NMC954591 |
SSV
376 |
423/212 |
3/29/2007 |
NMC954592 |
SSV
377 |
423/213 |
3/29/2007 |
NMC954593 |
SSV
378 |
423/214 |
3/29/2007 |
NMC954594 |
SSV
379 |
423/215 |
3/29/2007 |
NMC954595 |
SSV
380 |
423/216 |
3/29/2007 |
NMC954596 |
SSV
381 |
423/217 |
3/29/2007 |
NMC954597 |
SSV
382 |
423/218 |
3/29/2007 |
September 9, 2014 | 120 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC954598 |
SSV
383 |
423/219 |
3/29/2007 |
NMC954599 |
SSV
385 |
423/220 |
3/29/2007 |
NMC954600 |
SSV
386 |
423/221 |
3/29/2007 |
NMC954601 |
SSV
387 |
423/222 |
3/29/2007 |
NMC954602 |
SV
262 |
423/223 |
3/29/2007 |
NMC965332 |
Duffy
#5 |
427/745 |
9/5/2007 |
NMC965333 |
Duffy
#6 |
427/746 |
9/5/2007 |
NMC965334 |
Duffy
#7 |
427/747 |
9/5/2007 |
NMC965335 |
Duffy
#8 |
427/748 |
9/5/2007 |
NMC977866 |
SV
214 |
432/395 |
11/7/2007 |
NMC987526 |
SVR
1 |
435/587 |
3/26/2008 |
NMC987527 |
SVR
2 |
435/588 |
3/26/2008 |
NMC987528 |
SVR
3 |
435/589 |
3/26/2008 |
NMC987529 |
SVR
4 |
435/590 |
3/26/2008 |
NMC987530 |
SVR
5 |
435/591 |
3/26/2008 |
NMC987531 |
SVR
6 |
435/592 |
3/26/2008 |
NMC987532 |
SVR
7 |
435/593 |
3/26/2008 |
NMC987533 |
SVR
8 |
435/594 |
3/26/2008 |
NMC987534 |
SVR
9 |
435/595 |
3/26/2008 |
NMC987535 |
SVR
10 |
435/596 |
3/26/2008 |
NMC987536 |
SVR
11 |
435/597 |
3/26/2008 |
NMC987537 |
SVR
12 |
435/598 |
3/26/2008 |
NMC987538 |
SVR
13 |
435/599 |
3/26/2008 |
NMC987539 |
SVR
14 |
435/600 |
3/26/2008 |
NMC987540 |
SVR
15 |
435/601 |
3/26/2008 |
NMC987541 |
SVR
16 |
435/602 |
3/26/2008 |
NMC1011089 |
SVB
13 |
449/865 |
9/22/2009 |
NMC1023658 |
SVB
1 |
453/660 |
2/18/2010 |
NMC1023659 |
SVB
2 |
453/661 |
2/18/2010 |
NMC1023660 |
SVB
3 |
453/662 |
2/18/2010 |
NMC1023661 |
SVB
4 |
453/663 |
2/18/2010 |
NMC1023662 |
SVB
5 |
453/664 |
2/18/2010 |
NMC1023663 |
SVB
6 |
453/665 |
2/18/2010 |
NMC1023664 |
SVB
7 |
453/666 |
2/18/2010 |
NMC1023665 |
SVB
8 |
453/667 |
2/18/2010 |
NMC1023666 |
SVB
9 |
453/668 |
2/18/2010 |
NMC1023667 |
SVB
10 |
453/669 |
2/18/2010 |
NMC1023668 |
SVB
11 |
453/670 |
2/18/2010 |
September 9, 2014 | 121 | ![](image_029.jpg)
|
Midway Gold Corp. Spring Valley Project | | Certificate of Authors NI 43-101 Technical Report on Resources |
Serial
Num |
Claim
Name |
Book
/ Page Number |
Location
Date |
NMC1023669 |
SVB
12 |
453/671 |
2/18/2010 |
NMC1034792 |
SHO
60 |
461/284 |
11/11/2010 |
NMC1034793 |
SHO
61 |
461/285 |
11/11/2010 |
NMC1034794 |
SHO
62 |
461/286 |
11/12/2010 |
NMC1034795 |
SHO
63 |
461/287 |
11/12/2010 |
NMC1034796 |
SHO
64 |
461/288 |
11/12/2010 |
NMC1034797 |
SHO
65 |
461/289 |
11/12/2010 |
NMC1034798 |
SHO
4A |
461/290 |
11/8/2010 |
NMC1034799 |
SHO
5A |
461/291 |
10/1/2010 |
NMC1034800 |
HMS
4A |
461/292 |
10/1/2010 |
NMC1062740 |
SVB
14 |
477/247 |
10/18/2011 |
NMC1062741 |
SVB
15 |
477/248 |
10/18/2011 |
NMC1062742 |
SVB
16 |
477/249 |
10/18/2011 |
NMC1062743 |
SVB
17 |
477/250 |
10/18/2011 |
NMC1096898 |
SVB
18 |
500/0753 |
9/13/2013 |
NMC1096899 |
SVB
19 |
500/0754 |
9/13/2013 |
NMC1096900 |
SVB
20 |
500/0755 |
9/29/2013 |
NMC1096901 |
SVB
21 |
500/0756 |
9/29/2013 |
NMC1096902 |
SVB
22 |
500/0757 |
9/14/2013 |
NMC1096903 |
SVB
23 |
500/0758 |
9/15/2013 |
NMC1096904 |
SVB
24 |
500/0759 |
9/15/2013 |
NMC1096905 |
SVB
25 |
500/0760 |
9/16/2013 |
NMC1096906 |
SVB
26 |
500/0761 |
9/16/2013 |
NMC1096907 |
SVB
27 |
500/0762 |
9/16/2013 |
NMC1096908 |
SVB
28 |
500/0763 |
9/17/2013 |
NMC1096909 |
SVB
29 |
500/0764 |
9/17/2013 |
NMC1096910 |
SVB
30 |
500/0765 |
9/17/2013 |
NMC1096911 |
SVB
31 |
500/0766 |
9/14/2013 |
NMC1096912 |
SVB
32 |
500/0767 |
9/28/2013 |
NMC1096913 |
SVB
33 |
500/0768 |
9/28/2013 |
NMC1096914 |
SVB
34 |
500/0769 |
9/18/2013 |
NMC1096915 |
SVB
35 |
500/0770 |
9/18/2013 |
NMC1096916 |
SVB
36 |
500/0771 |
9/29/2013 |
NMC1096917 |
SVB
37 |
500/0772 |
9/29/2013 |
NMC1096918 |
SVB
38 |
500/0753 |
9/30/2013 |
NMC1096919 |
SVB
39 |
500/0774 |
9/30/2013 |