Each of the Rovina, Colnic, and Ciresata porphyries share many basic geologic-mineralization attributes. These include association with both subvolcanic intrusives of similar composition and similar alteration suites. The mineralized porphyries at Rovina, Colnic, and Ciresata display moderate to intense potassic hydrothermal altered cores, and strong quartz stockwork veining. The Au-Cu mineralization manifests as stockwork veining and disseminations of pyrite and chalcopyrite, centred on porphyritic, subvolcanic-intrusive complexes of hornblende-plagioclase diorites. The Colnic and Ciresata porphyries classify as gold-rich, with the Rovina porphyry falling within the Cu-Au subtype. All three porphyries contain many of the features common in gold-rich porphyries[i.e. dioritic, calc-alkaline stock associated and abundant magnetite alteration (Sillitoe, 2000)].

Geometry of the mineralization and host porphyries is different for each of the deposits. At Rovina, the host porphyries are generally cylindrical and vertical. At Colnic, the porphyries are lobate, with mineralization decreasing with depth and a phyllic-altered cap locally preserved. Both Rovina and Colnic porphyries intrude extensive igneous- magmatic breccia carapaces, whereas Ciresata mineralization is centred on a relatively narrow subvolcanic “neck” with a significant amount of mineralization hosted in adjacent hornfelsed sediments.

Copper-gold mineralization at Rovina is hosted in multiple composite plagioclase-hornblende porphyritic subvolcanic intrusives. This mineralization reaches the surface and is exposed in one location as outcrops in the Baroc valley drainage over approximately 300 m. The remaining sparse and scattered outcrops are phyllic-altered fragmental volcanics and porphyritic volcanics, which comprise a mapped phyllic alteration halo of 1,000 x 600 m. The mineralized porphyries are cylindrical and vertical, with mineralization extending up to 600 m below surface. At least three mineralized porphyries are recognized. The main porphyry (Rovina Porphyry) intrudes (or is surrounded by) a brecciated porphyritic unit. This breccia unit is locally mineralized and is interpreted as an intrusive magmatic breccia (IMB) carapace to an upper-level intrusive. The last, post-mineral stage of intrusive activity is the emplacement of a phreatomagmatic breccia complex, which cuts earlier porphyry units and is grade destructive.

Gold-copper mineralization is associated with pyrite-chalcopyrite-magnetite occurring in veinlet stockworks and as finely disseminated grains. Oxidation is restricted to the uppermost few metres, with the exception of a small area in Baroc Valley at the Rovina porphyry where weathering oxidation is 15 to 25 m deep within the copper-gold mineralization. In this area, secondary copper minerals malachite and chrysocolla are observed in the weathering zone, and minor occurrences of supergene copper minerals (chalcocite) occur below the weathering zone, typically associated with short drill hole intervals of elevated copper grades.

Deposit-scale controls to mineralization are the localization of the principal hornblendeplagioclase porphyry intrusion (Rovina Porphyry PoC), which is elongated in a northwesterly direction, measuring approximately 600 m northwest x 350 m northeast. This porphyry has vertical contacts over at least 600 m in depth, and apparently terminates northward in the northeast-trending Baroc Valley zone. Lower-grade copper-gold mineralization extends down the Baroc Valley zone to the southwest, to include the Baroc Valley porphyry as a satellite to the main Rovina porphyry. This intrusive geometry suggests possible northwest structural control for emplacement of the Rovina Porphyry intersecting a northeast structural zone controlling emplacement of the Baroc Valley Porphyry.

Gold-copper mineralization at Colnic is hosted in multiple composite plagioclase-hornblende porphyritic subvolcanic intrusives. This mineralization reaches the surface in the Rovina Valley and is exposed in outcrops and road-cuts in the valley bottom over a distance of approximately 400 m. The remaining sparse and scattered outcrops are phyllic-altered porphyritic volcanics and Cretaceous sediments, and propylitic-altered hornblende andesites. The Colnic deposit has a large phyllic alteration halo covering 2,000 x 1,700 m. Two mineralized porphyry-centres comprise the bulk of the Colnic deposit; one occurring in the Rovina Valley (Colnic Porphyry) which partially outcrops, and a second centred approximately 200 m southeast on F-2 Hill (F-2 Hill Porphyry).

Gold-copper mineralization is associated with pyrite-chalcopyrite-magnetite occurring in veinlet stockworks and as disseminated grains. Oxidation is restricted to the uppermost few metres of the prospect, and no significant oxide cap or supergene-enriched horizons have been encountered to date.

Deposit-scale controls to mineralization consist of the localization of two hornblende-plagioclase porphyry centres; the Colnic porphyry and the F-2 Hill porphyry. The Colnic porphyry occurs in the Rovina Valley, elongated parallel to the northeast-trending valley over an area approximately 400 m long x 200 m wide. This is interpreted as the older porphyry, and its upper part contains the highest grades at Colnic. The centre of the F-2 Hill porphyry complex occurs approximately 150 m southeast of the Colnic porphyry. Interpreted structural controls on the emplacement of these porphyries are the northeast- trending Rovina Valley (as suggested by an inter- mineral dike and breccia swarm in the upper part of the Colnic porphyry) and the northwest-striking Chubby’s Fault/fracture zone (a brittle, post- mineral structure; however, maybe a re-activated older structure, as evidenced by a spatial mineralization association at depth).

Ciresata contains the highest average gold grades in the RVP, with gold-copper mineralization hosted sub-equally in a Neogene subvolcanic ”neck” and adjacent hornfelsed Cretaceous sediments. The subvolcanic intrusion is a relatively coarse- grained hornblende-plagioclase porphyry (Early Mineral Porphyry), with a narrow vertical feeder zone and ”ballooning” at the dipping planar contact between the hornfelsed Cretaceous sediments and an older subvolcanic intrusion (Host Rock Porphyry), approximately 250 m below the present surface.

Gold-copper mineralization at Ciresata is associated with magnetite-pyrite-chalcopyrite occurring in veinlet stockworks and as finely disseminated grains over a wide area of approximately 450 m (NW-SE) by 300 m (NE-SW) and narrowing with depth. Recent deep drilling has intersected mineralization 500 m below previous drilling, suggesting approximately 1,000 vertical metres of mineralization. This mineralization is centered on the Early Mineral Porphyry (EM-P), with approximately 65% hosted in the hornfels sediments (SED) and 35% in the EM-P. In general, grade decreases as a function of distance away from the EM-P-to-SED contact. In the southwest sector of the deposit, SED is the only host, and with the local occurrence of higher grades a deeper mineral porphyry has been postulated but not yet confirmed by drilling.

The PEA concluded that the Colnic deposit could be developed as a phased open pit sending 85.7 Mt of mill feed grading 0.58 g/t Au and 0.10 % Cu to a nearby process facility. This would be done over a 14.1-year mine life which includes two years of pre- stripping.

The deposit will be a conventional truck-and-shovel operation. A mill feed of approximately 20,000 t/d is planned over a 14.1-year project life. There will be pre-strip material in Years -2 and -1, with production ramp-up in Year 1.

Mining will be performed on a bench height of 12 m and the design has safety bench placement every 24m. Two additional phases, with minimum mining width of 60 meters were also completed for production scheduling.

The current design uses a Komatsu HD1500 (150 tonne) haul truck as the largest vehicle traveling on the ramp, with a truck width of 7.6 m. Tire size is based on the 33.00R51, with an overall height of 3.1 m. The calculated operating width for dual lane ramps is 32.1 m, and for single lanes is 24.6 m. These include a 2.5 m ditch for water runoff and snow containment.

The process plant has been designed for a throughput of 21,000 dry mtpd . The overall flowsheet includes the following steps:

• ROM material fed through a ROM pocket providing 225 t surge capacity, (i.e. 1.5 times the capacity of each truck)
• primary crusher (gyratory) located adjacent to the open pit mine, apron feeder and rope conveyor to the crushed material stockpile located near the process plant
• crushed material stockpile providing a 16-hour live capacity and a 70-hour total surge capacity
• crushed material reclaims pan feeder drawing from the stockpile to a SAG mill feed conveyor feeding the milling circuit
• SAG mill in closed circuit with pebble crushing • ball mill, in closed circuit with hydro-cyclones, to produce a grind size P80 of 75 µm, and an overflow slurry density of 38.5% solids in weight in the direct feed to the flotation circuit • rougher and scavenger flotation
• rougher and scavenger concentrate regrinding
• cleane ........