Rochford Project:
Located in the historic
Homestake Gold Belt

  • World’s Richest Banded Iron Formation Hosted Gold Belt – Hosting more than 62 million ounces of gold
  • Gold ore ledges in both the Homestake Gold Mine and the Standby Gold Mine are in major tightly folded V shaped synclines in structurally thickened iron formation, cut by late orogenic near-vertical shear zones
  • MMV’s has found large-scale iron formation hosted gold ore ledges in the Rochford District

Looking West at the Homestake Mine Model

  • 125 years of operation, discovered in 1876, and closed in 2001 due to low gold price; it did not run out of gold mineralization
  • >42M oz Au production from 152 Mt @ 8.4 g/t Au
  • Open below 8500-foot level
  • Largest iron formation hosted gold deposit in the world

7430-ft. Level: Quartz vein in Homestake Formation with arsenopyrite and pyrrhotite

Homestake BIF Gold Ore Ledges

  • 11 gold ore ledges were mined at Homestake, averaging 8.38 g/t Au.
  • The Main Ledge was 74m tonnes (19.07m oz. Au produced)
  • 9 Ledge was 36m tonnes (9.50m oz. Au produced)
Ledge
g/t Au
Mt
Au (M oz)
Caledonia Ledge
7.43
4.90
1.06
Main Ledge
8.73
74.00
19.07
7 Ledge
7.31
4.80
2.00
9 Ledge
9.05
36.00
9.5
11 Ledge
7.87
7.10
1.62
13 Ledge
8.71
2.20
0.56
15 Ledge (est.)
9.10
3.75
1.00
17 Ledge
6.94
7.00
1.42
19 Ledge
7.03
2.30
0.47
21 Ledge
8.34
9.40
3.50
23 Ledge
-
-
0.52
Summary
Weighted average g/t Au - 8.38 g/t
Total Metric Tonnes (Millions) 151.45 M Oz Total Au
As of 1992: 36.28 M oz. produced; 4.45 M oz. Reserves (23 Mt @ 6 g/t)

Homestake / Standby Comparison

  • Standby Phase 1 drilling: Gold increases down plunge from:
    • 2.0 g/t Au over 3.2m in ST18-001, to
    • 1.1 g/t Au over 6.4m in ST18-002, to
    • 2.8 g/t Au over 6.1m in ST18-003,
      and down-dip to
    • 2.12 g/t Au over 20m
      (including 4.39 g/t Au over 2.5m and 5.24 g/t Au over 1.5m) in ST18-006.
  • By comparison, within the surface expression of Homestake 9 Ledge upper tail, rock samples assay only 0.10 g/t Au to 1 g/t Au, with one higher-grade sample assaying 4.5 g/t Au.
  • However, alteration characterized by quartz veins with well-developed hydrothermal chlorite selvages and minor sulfides, is locally well developed in the upper tail.
  • Consistent ore grade mineralization (~8 g/t Au over 5-10m widths) in 9 Ledge does not begin until 1200m down plunge (800m vertical depth), and the highest Au grades and widths in the 9 Ledge Centroid do not occur until 2000m down plunge (1000m vertical depth).

Drilling Results

Standby DDH ST18-006 Upper Tail Core Sample (below) Compared to Homestake 9 Ledge Sample (above) Similar Arsenopyrite & Chlorite Content

Intense quartz – sulphide – chlorite alteration over wide intervals, example from near Target 1 area

Rochford Gold District Potential

  • Standby Mine Trend (as discussed); Cochrane Mine Trend Non NI 43-101 compliant inferred resource of 268,000 oz @ 6.34 gpt Au, where MMV holds the down plunge extension; ~10 other early 1900s small mines in District
  • Majority of historic drill holes in District are shallow; most were focused on Cochrane resource; little or no drilling in remainder of District; No drilling since 1997
    At least 6 high priority ledge-style gold target trends have been defined to date by MMV
  • Each target trend has space to host a multi-million-ounce gold resource, comparable to a Homestake Mine Ore Ledge
  • Currently permitting drill sites for Cochrane Trend and other Target Trends in the District

Development Plan

  • Use state of the art exploration methods to drill and define multi million oz. gold deposits in the Rochford District
    • Progress targeted drilling down plunge on Standby Trend, with support from 3D modelling and Borehole EM
    • Drill other target trends in the Rochford District, including the Cochrane Trend and Standard Mine Trend
  • Create a timely exit strategy by securing a relationship with a major gold company with the ability to provide $10-$20m to complete a Phase 3 development drill program at Standby, and progress drilling on other Rochford District Target Trends