Exploration & Development to Date Mineral resources are not mineral reserves and as such, they do not have any demonstrated economic viability. There is no certainty that additional drilling would result in an increase in the tonnes and grade of the deposits referenced nor is there any assurance that such drilling would result in an upgrade of the current resource categories to a higher level. The plannned exploration program is exploratory in nature and while the results to date warrant significant additional work on the property. there is no assurance that such deposits will ever become economic or that a mine would be developed on the property. Note to U.S. Investors concerning estimates of Measured and Indicated Resources. This section uses the terms “measured” and “indicated resources”. We caution U.S. investors that while those terms are recognized and required by Canadian Securities Administrators pursuant to National Instrument 43‑101, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Note to U.S. Investors concerning estimates of Inferred Resources. This section uses the term “inferred resources”. We caution U.S. investors that while this term is recognized and required by Canadian Securities Administrators pursuant to National Instrument 43‑101, the U.S. Securities and Exchange Commission does not recognize it. “Inferred 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 Securities Administration rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre‑feasibility studies. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. GETTY NORTH DEPOSIT (Wholly Owned)
• 161 diamond drill holes totaling 41,638 m (136,609 ft) by Getty Copper. • 23 km (14 miles) Induced polarization survey (I.P.) and 16 km (10 miles) of magnetometer surveys. • 23 km (14 miles) of geochemical survey. • Detailed geological mapping of deposit and surrounding areas. • Computerized resource estimation and projected initial pit design. • Bateman Engineering Inc. report dated April 29, 1998 recommended proceeding to a full feasibility study.
Getty Copper has completed161 diamond drill holes totaling 36,346 m (119,251 ft) in order to define the extent of the wholly owned Getty North Deposit. A report prepared by Craig Parkinson P.G. of West Coast Environmental & Engineering dated February 14, 2008. Provided as Follows. Getty North Mineral Resource Estimates Based on a Cut-Off Grade = 0.20% Copper Resource Zone | Resource Type | Total Resource (millions of tonnes) | Grade (% Cu) | Pounds of Copper (millions) | | Oxide | Indicated Inferred | 6.45 0.43 | 0.541 0.416 | 76.98 3.94 | | | | | | | | Sulfide | Indicated | 25.65 | 0.432 | 244.36 | | | | | | | | Total | Indicated | 32.10 | 0.454 | 321.34 | | Total | Inferred | 8.25 | 0.355 | 64.64 |
Molybdenum Resource Estimates Resource Zone | Resource Type | Total Resource (millions of tonnes) | Grade (% Mo) | Pounds of Molybdenum (millions) | | Oxide | Indicated | 6.45 | 0.013 | 1.849 | | | | | | | | Sulfide | Indicated | 25.65 | 0.015 | 8.484 | | | | | | | | Total | Indicated | 32.10 | 0.015 | 10.333 | | | | | |
A 1999 Project Assessment Report (PAR) by Bateman Engineering Inc. on the Getty North oxide deposit recommended proceeding to the full feasibility stage in order to determine whether it would be economic to consider producing cathode copper. This PAR was prepared prior to the coming into force of NI 43-101 and as such, while Getty Copper believes it to be of value in determining the company plans, it should not be relied upon as it is of historical value only and does not meet the present day requirements of NI 43-101. GETTY SOUTH DEPOSIT (50% Owned) 45 m (148 ft) deep, development shaft by previous operators.
1,775 m (5,822 ft) of underground development by previous operators. 15,000 m (49,215 ft) diamond drilling by previous operators. 3,236 m (10,618 ft) diamond drilling by Getty Copper. 19 km (12 miles) of I.P. and 13 km (8 miles) of magnetometer surveys and 20 km (12 miles) of geochemical soil sampling by Getty Copper. 1572 m (5158 ft) of surface trenching outlined extensive oxidized and sulphide copper resource by Getty Copper.
The Getty South Deposit(JV) consists of an elliptical shaped breccia and shatter zone of approximately 300m (984 ft) wide by 600m (1968 ft) long. 3 km (1.9 miles) south of the Getty North Deposit. More than 15, 000 m (49, 215 ft) of diamond drilling and 1,775 m (5,824 ft) of underground development by previous operators of the Getty South property has been carried out.
A report prepared by Craig L. Parkinson, P.G. of Vector Engineering Inc., dated June 18, 2007 provided the following: INFERRED RESOURCE SUMMARY GETTY SOUTH DEPOSIT CUT-OFF GRADE = 0.20% COPPER Ore Type | Tonnes (000’s) | Grade (% Cu) | Pounds of Copper (millions) | Oxide | 3,100 | 0.51 | 34.6 | Sulfide | 25,060 | 0.46 | 255.4 | Total | 28,160 | 0.47 | 290.0 |
Craig L Parkinson, PG recomended that the Company conduct additioannal deep-level exploratory drillng to examinge the verticle extent of copper mineralization in the undrlying sulfide zne. He recommended that at least threee (3) in-fill diamond drill core of approximately $100 per meter, this initial drilling program would cost at least $150,000. In 1996, Getty Copper drilled 13 reconnaissance diamond drill holes totaling 3,236 m (10,618 ft), that have been deemed to have produced ambiguous results. Subsequently in 1997, Getty Copper completed a program of detailed geological mapping and 15 bedrock trenches aggregating 1572 m (5158 ft) which significantly extended the known surface mineralization, including a new 250 m (820 ft) by 40 m (131 ft) oxidized zone of higher grade along the eastern edge of the deposit. The results of this trenching program support the need for further evaluation by a program of closely-spaced, large diameter definition drilling, or underground bulk sampling.
GETTY WEST ZONE • 3,374 m (11,070 ft) reconnaissance diamond drilling by Getty Copper • Detailed geological mapping by Getty Copper • 13.5 line km (8.4 miles) I.P. and magnetometer surveys and geochemical soil sampling by Getty Copper.
Getty Copper completed 3 diamond drill holes totaling 1,009 m (3,310 ft) into the northwest portion of the Getty West anomaly and compiled a detailed geological map of these claims. These holes and eight others drilled in 1996 totaling 2,364 m (7,756 ft) provided geological information related to a large, complex, Getty West I.P. chargeability anomaly . The diamond drill holes intersected significant oxidized and sulphide copper mineralization, indicating that both types of mineralization are more widespread than previously indicated by surface and underground showings. The next phase of surface drilling is intended to follow-up areas of underground mineralization. The next proposed phase of drilling is intended to follow-up on the porphyry copper style mineralization intersected in drill hole GL96-08, 42 m (138 ft) grading 0.26% Cu with .02% Mo, including 16 m (53 ft) grading 0.42% Cu and 0.025% Mo.
As a result of 13.5 line kilometers (8.4 miles) of I.P. and magnetometer surveying, a broad, 1 km wide I.P. chargeability anomaly was outlined on the Getty West zone. |