Long-term exploration targets around Lamaque (not even a complete list)

Please note that all of the exploration targets discussed below are based on either historical data or historical internal reports. When dealing with such info one should use extreme caution as there can be no certainty that the historical info is correct or even complete, at least not until sufficient modern work has been done to validate.

Also, (although impossible to know right now) there may not be exploration work on any of these target areas for years into the future as there are way too many high priority targets to drill that can contribute to cash flow much faster. These are interesting drill target areas nonetheless (perhaps they will find a way to drill 1 or 2 in the mid-term).


1) Our Union Gold property area just outside of the Lamaque Complex - I can`t help but to wonder if a 1 sq km area on this property could turn out to be a (new) mini Lamaque Complex in the future

Here are some comments on our properties to the east of Lamaque (outside of the complex, including the Union Gold property), from Century`s website: ``The properties are either contiguous with or in close proximity to the east side of the Sigma-Lamaque mine property. These claims cover the eastern extension of the mine mineralized zone, which has a strong east-west orientation parallel to the Larder Lake-Cadillac break. The strong east-west structures, diorite plugs and dykes, which localize the mineralization at Sigma-Lamaque, continue onto these claims and host known mineralization similar to that on the Sigma property.``

The part of the Union Gold property I have in mind has 7 solid gold mineralized areas within that 1 sq km space:

1. Union Gold: Decapage A

2. Cisaillement E-O (Sud. Zone S) - historic drill results labelled ``Auric West`` on CMM`s website

3. Union Gold: Decapage C

4. Val d`Or Mineral - historic drill results labelled ``Southern Diorite`` on CMM`s website

5. Union Gold: Decapage D - historic drill results labelled under ``Central Diorite`` on CMM`s website

6. Union Gold: Decapage E

7. Secteur Ouest

The mineralization is thought to be the same or similar to the Sigma side of the Lamaque Complex. I especially find historic drill hole NB-83-46 to be interesting. That 1983 hole (perhaps drilled by Placer Dome) hit mineralization 5 times (depth of the hole has not been published):

Hit 1. 14.10 g/t grade - .7 (m) thickness
Hit 2. 18.10 g/t - .6 (m)
Hit 3. 3.00 g/t - .9 (m)
Hit 4. 50.70 g/t - .6 (m)
Hit 5. 8.65 g/t - 1.2 (m)

There is not enough info published and I do not have enough geology knowledge to know firmly what that drill data info is telling us. However, it does remind me a lot of some of our Bedard dyke drill holes, as a number of the the BD drill attempts hit numerous mineralized areas as the drills progressed vertically down the dyke. As such, I can`t help but to wonder if this historical NB-83-46 drill hole was also hitting a dyke back during the 1983 drill program. If it is a dyke then do these high grade hits represent high grade zones and flats going down the dyke, similar the Bedard dyke. I guess we may not find out for years. This is an interesting drill target area nonetheless.

Here is an Alexandria Minerals map. The Century gold showings are in the top left corner. You will need to enlarge the map (try 125%).

http://www.azx.ca/pdf/Carte_geol_reg_UTM.pdf

Here is a link to the historical drill results from Century`s site:

http://www.centurymining.com/s/Canada.asp


2) U/g Sigma side below 6,100 ft (1,860 m)

From the April 6`10 NR: ``Historically the Sigma mine was developed to the 6,100 foot level and the Lamaque mine to the 3,500 foot level. The Company believes that the gold mineralization continues to depth beneath both areas, and historically the grade has increased as the mine was developed deeper. ``

Grades appear to be strong at depth. The Sigma side has been mined down to about 1,800 m. Down the highway is Agnico-Eagle`s flagship mine (LaRonde). Agnico is mining LaRonde beyond 3,000 m (3 miles). That is way beyond where Sigma has been mined. LaRonde does have base metal credits as an advantage. It may also have good bulk mining capabilities. However, Sigma u/g does have a lot going for it also, which could make for economical mining below 1,860 m (Sigma has demonstrated some some high grade zones, we now have low profile equipment capabilities to perform efficient Room and Pillar mining in flats, we can perform long-hole stope (bulk) mining for areas with strong rock and the appropriate type of mineralization and our grades should increase with depth).


3) Lamaque side below 3,500 ft (1,067 m) – veins

Below this level has been virtually unexplored on the Lamaque side. Vein potential should be strong given vein mineralization success at this depth on the Sigma side historically. The reason work was done on the Sigma side in the past and not the Lamaque side is because of separate owners in the past. This is essentially the first time the properties have been under one owner (with both properties active). I have chosen to discuss the Lamaque Main Plug separately (see below).


4) Lamaque Main Plug

I believe this plug was Teck`s bread and butter (of its mining areas at Lamaque). It`s a bulk mining plug. Teck stopped mining Lamaque around 1985. I believe Placer Dome purchase all or some of Lamaque around 1993. I remember Peggy saying that Century has some very limited historical drill data in its database that shows mineralization in the Lamaque Main Plug at depth below 3,500 ft (I remember her mentioning 525,000 ounces @ 5 g/t grade). It also looks like Placer Dome prepared an internal report in 1996 that identified the resources. In the 2005 Century Annual report (pg 11), posted on both Century`s website and on SEDAR, Century includes the 525,000 ounces and 5 g/t (below level 24) in a schedule, and attributes it to an internal Placer Dome report.

I don`t believe these ounces (or at least the majority of these ounces) are counted in our current 43-101 report, as there is likely insufficient data.

In a past presentation, Century mentioned that they believe that the Lamaque Main Plug and the West Plug, combined, has the potential to provide 2,000,000 additional ounces (potentially bulk mineable also). I have chosen to discuss the West Plug u/g separately (see below).


5) West Plug (u/g)

Again, on the same internal Placer Dome report, it was identified that the West Plug has 423,000 ounces between level 23 and level 40 (@ 5.0 g/t grade). This would count as part of the 2,000,000 ounces that Century believes still remain in the Lamaque Main Plug and the West Plug combined. Also, the majority of the 423,000 ounces are likely not counted in our current 43-101 number due to insufficient data at this time.


6) East Plug

I see the East Plug as being extremely low on even the long-term exploration list. I am not even sure that Century will ever look at it. However, I wanted to mention it because it did historically provide production of 344,000 ounces @ 3.94 g/t. Also, on the Placer Dome internal report, it shows that the East Plug has 132,000 ounces still remaining @ 4.44 g/t (below level 36). Exploration technology (and knowledged gained) is far better these days relative to when the East Plug was previously mined. There may be some good exploration opportunities still remaining for the East Plug at some point in the future.

Of course, same as the 2 other plugs, the 132.000 East Plug ounces are not currently counted in Century`s 43-101 resource number.


7) Aumaque Mine

I wrote about Aumaque the other day. This is what I previously posted:

``It is located about 2 - 3 km from the Lamaque mill. It has non-43101 ounces of 50,000 (8.57 g/t grade) and 17,000 (6.03 g/t grade). The property has never been mined but it has a shaft that goes down to 165m and a winze from 150m to 198m. It also has a number of levels established.

`The mineralization was found to be consistent in style with the vein types found at the Lamaque mine in pyroclastic volcanics.`

`At the west end of the property and extending onto the Lamaque property there is an untested diorite plug similar to the Numbers 4 and 5 plugs found at Lamaque. It has been previously suggested that the known veins may extend into this plug with the result that a fractured and mineralized system similar to those mined at Lamaque may have developed.`

If the known Aumaque veins are found to actually extend into the untested diorite plug on the west end, I wonder what Mr. Daniels thinks about the 67,000 historical Aumaque ounce total maybe increasing to, say, 400,000 ounces. ``


8) Sigma II
To be honest, I don`t know what the status is of Sigma 2. Century hasn`t made any comments about it lately so I am not even positive we still own it. Although, it`s still listed on Century`s website and I don`t remember seeing anything in the MD&A about the lease not being renewed or it being sold (or something of that nature). Hopefully it`s a case where Century still owns it but it got lost in the shuffle due to obviously much much much bigger fish to fry right now.

Sigma II is located about 20 kilometers away from Lamaque, within trucking distance. In the late 80s (or 90s - I can`t remember), Placer Dome mined 155,000 ounces @ 2.67 g/t from Sigma II and trucked it to the Lamaque (Sigma) mill for processing - I think this was during a US$325 - US$425 gold price period. Sigma II is still open at depth today, but requires exploration work to establish the resource base and grades at depth and to assess if it is economically viable. The Sigma II property is about 4 Km2 in size, which is relatively large.

At US$1,255 gold, (in my opinion) Sigma II looks very attractive in terms of exploration potentially, for both open pit and underground, especially since we already know it is open at depth.