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 planned 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.
43-101 Compliant Pre Feasibility Study dated May 3, 2010 by West Coast Environmental & Engineering recommended proceeding to a full feasibility study. The resources and reserves from the Pre Feasibility are as follows:
Table 1-1 Summary of Getty Indicated and Inferred Mineral Resource Estimate
(Millions of tonnes)
(Millions of tonnes)
Table 1-2 Summary of Getty Probable Mineral Reserve Estimates
(Millions of tonnes)
Getty North Deposit
- 302 diamond drill holes totalling 55,007 m (180,469 ft).
- 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 deposits 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 South Deposit
- 45 m (148 ft) deep, development shaft by previous operators.
- 1,775 m (5,822 ft) of underground development by previous operators.
- 118 Diamond Drill holes totalling 19,003 m (62,345 ft) diamond drilling.
- 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.
In 1996, Getty Copper drilled 13 reconnaissance diamond drill holes totaling 3,236 m (10,618 ft). 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 0.03% 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.