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Dorex Minerals Inc.

The Atlin Ruffner High grade silver


The Atlin Ruffner High grade silver project


The Atlin Ruffner Project consists of one 20 Unit and 28 crown granted mineral claims in the Atlin mining division in northwestern British Columbia. The property was the subject of intermittent small-scale mining from 1916 through 1981 and has several small underground workings developed on the property. The only drilling reported to date on the Number 2 and 4 veins occurred in 1951 and again in 1967-8 and totaled approximately 4,000 metres mostly from underground workings. Since 1968 other than intermittent production only surface geological, geochemical and geophysical work has been conducted on the property. The most recent work conducted by Pacific Harbour Resources in 1996-7 consisted of an extensive grid geochemical survey, and VLF and induced polarization geophysical surveys over the 28 Crown grants. Since 1997 no exploration has occurred on the property.

The following summary is condensed from BC Minfile summary at http://minfile.gov.bc.ca/Summary.aspx?minfilno=104N++011

The Atlin Ruffner mine site is located about 23 kilometres northeast of Atlin. The occurrence has been a small-scale intermittent producer from 1916 to 1981, being operated by numerous companies.

The occurrence lies completely within the Middle Jurassic Fourth of July Creek batholith which covers about 780 square kilometres northeast of Atlin. It is composed of both monzonitic and quartz dioritic phases and in the area of the Atlin Ruffner mine is composed of feldspar porphyritic quartz syenite to granite. The batholith has intruded into Carboniferous-Jurassic Cache Creek Complex rocks.

Mineralization on the property is associated with dark green, pyroxene-bearing lamprophyre dikes which strike 070 degrees and dip 85 degrees to the northwest. The dikes are abundant, parallel and from 2 to 10 metres thick.

Mineralization includes varying amounts of sphalerite, galena, arsenopyrite, pyrite, pyrrhotite, chalcopyrite, pyrargyrite (with trace amounts of tetrahedrite, molybdenite, scheelite, and cassiterite) in a quartz-calcite gangue. Across the mineralized veins/shears, which typically are 1 to 2 metres in width, there is a crude segregation of sulphide mineralogy, from sphalerite-rich hangingwall, through a galena-rich core, to an arsenopyrite-rich footwall. High grade silver values are commonly associated with galena-rich zones, and gold values with arsenopyrite-rich zones. Four major vein/shear systems have been identified to date, with underground development and production having taken place on two of them. Unclassified reserves from the two zones from which underground development and production has taken place are 113,638 tonnes grading 600 grams per tonne silver and 5.0 per cent lead (Assessment Report 18646, March 1989)".

Assessment report 18646 also reports that total past production from the property between 1916 and 1981 totaled 2,247 tonnes of material mined yielding 3,771 grams Au, 2,066,484 grams Ag, 920 Kg Cu, 135,999 Kg Pb, and 13,540 Kg Zn.

The historical resource is taken from the BC Minfile website and Assessment report 18646 dated march 1989, neither reference mention the methods used in calculating the historical resource other than it was prepared by Dolmage, Campbell and Associates in 1967 following the last reported drilling on the property. The term "unclassified reserve" should not be considered anything other than a historical resource estimate. The historical estimate is referenced for information purposes only and is not in compliance with National Instrument 43-101, a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, Dorex is not treating the historical estimate as current mineral resources or mineral reserves and the historical estimate should not be relied upon. In order to be qualified as a resource, it would have to be confirmed by additional drilling.

Rod Husband, P. Geo is the Qualified Person as defined by National Instrument 43-101 that has reviewed and approved the geological and technical information

Under the terms of the agreement Dorex can earn an undivided 55% interest in the property by doing all of the following things within the times stipulated:

    Issuing 600,000 Shares to and in the name of the Optionor as follows:
  • 200,000 Shares not later than the fifth day (the "Effective Date") after TSX Venture Exchange acceptance;
  • An additional 200,000 Shares not later than the first anniversary of the Effective Date;
  • An additional 200,000 Shares not later than the second anniversary of the Effective Date;
    Incurring a minimum of $300,000 in Exploration Expenses as follows:
  • A minimum of $50,000 in Exploration Expenses before the first anniversary of the Effective Date;
  • A minimum of an additional $250,000 in Exploration Expenses before the third anniversary of the Effective Date.


Slovakia


Kratke Gold-silver Project


The property covers an area of 6.8 square kilometers, located 250 kilometres north-east of the capital city Bratislava. Historical work on the property included limited soil sampling, mechanized trenching and diamond drilling. Drilling has intersected heavily disturbed, mylonitized and altered granitoid and gneiss cut by thin quartz veins with sulphide mineralization. Gold bearing gossan-like rock was found at shallow depths that returned 5.4 grams gold per tonne over 3.9 metres and 2.2 grams gold per tonne over 9 metres in another hole. Other holes intersected silver mineralization located in the Mesozoic sedimentary cover rocks proximal to the contact with the underlying gneiss. The thickness and grades intersected in three different holes are as follows, 73 grams per tonne silver over 8.7 metres, 113.6 grams per tonne silver over 1.7 metres, and 232 grams per tonne silver over 1.8 metres.

Dorex Minerals Inc. has an agreement to purchase a 90% interest by paying $90,000 cash, issuing 1.4 million common shares and incurring exploration expenditures of $200,000 over two years period.

* The historical data and information stated herein are not NI 43-101 compliant and have not been verified by the company, but is considered relevant and reliable. The company intends as part of its work program to verify the same using methods and calculations recognized under NI 43-101.

For the NI 43-101 report, please click here.


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