Emeral Isle Property: Overview

• Emerald Isle NI43-101 compliant report – click here to view
• The Emerald Isle Mine is located 24 km northwest of Kingman, Arizona.
• Copper mineralization at Emerald Isle is in the form of mineralized lenses contained within a paleochannel a few thousands of feet long and up to 750 feet wide.
• The source of copper at Emerald Isle is interpreted to be the low grade porphyry-type copper mineralization at Alum Wash, about 3.5 miles northeast of the Emerald Isle deposit. The mineralization is characterized by dark blue to black rock similar to the Exotica deposit, a satellite of the huge Chuquicamata copper deposit in Chile.
• Roscoe Postle Associates Inc. (RPA) has concluded in March of 2006, from 135 previous rotary and reverse circulation drill holes that using a copper cut-off grade of 0.3% TCu; Indicated Mineral Resources are 2.22 million tons with an average grade of 0.62% TCu representing about 27.5 million pounds of copper.
• The Emerald Isle copper mine consists of a small open pit mine, a SXEW plant, a leach pad with mineralized material for heap leaching, mine infrastructure including some buildings, office trailer and equipment which may have to be repaired or replaced.
• Ascendant Copper Corporation intends to place the Emerald Isle property back into production before the end of 2008 at the rate of not less than 5 million pounds of copper per annum.

SX/EW Plant and former coarse ore storage bins, now converted to plant water supply tanks.  Looking westerly.

Roscoe Postle Associates Inc. (RPA) has been retained by Ste. Genevieve Resources Ltd. (SGV) to prepare a Technical Report and estimate the Mineral Resources of the Emerald Isle Copper Project, located near Kingman, in northwestern Arizona. The purpose of this report is to provide an independent estimate of the Mineral Resources of the Emerald Isle Project and, if warranted, to recommend further work on the property. The Technical Report is compliant with NI 43-101 Standards of Disclosure for Mineral Projects. RPA visited the property in May and December, 2004.

Emerald Isle leach-raffinate pond with conspicuous CuOx.  White precipitate reportedly is very high in zinc (oxide and/or carbonate?).  Looking northeasterly.

The Emerald Isle Copper Project comprises a mineral deposit and some infrastructure. In particular these include:

• A small open pit mine,
• A SX/EW plant,
• A leach pad with mineralized material for heap leaching,
• A pad with tailings from previous mining and processing,
• Three small low grade stockpiles, and
• Mine infrastructure including some buildings, office trailer and equipment, which may have to be repaired or replaced.

CONCLUSIONS

The Emerald Isle copper deposit is hosted by Late Tertiary conglomerates and, to a lesser extent, by Quaternary alluvium and Cretaceous granitic rocks. RPA has estimated the Mineral Resource from 135 previous rotary and reverse circulation drill holes. Based on our review of past and recent exploration data, RPA concludes that:

• The technical data generated from past as well as recent exploration on the property are acceptable for estimation of Mineral Resources.
• The 2004 SGV drilling program has been carried out in a systematic manner and is well documented.
• RPA has estimated Mineral Resources of the Emerald Isle copper deposit using results of the previous drilling. At a total copper cut-off grade of 0.3% TCu and 10 ft. minimum vertical thickness, Indicated Mineral Resources are 2.22 million tons with an average grade of 0.62% TCu.
• In RPA's opinion, further work is warranted on the Emerald Isle property to advance it towards the prefeasibility stage.
• Past exploration (seismic survey by Arimetco) results suggest that a paleochannel similar to the one hosting the Emerald Isle deposit may be present south of the current open pit. RPA is of the opinion that this represents a valid exploration target.

RECOMMENDATIONS

RPA is of the opinion that the Emerald Isle copper property contains a significant copper Mineral Resource and recommends a Scoping Study (Preliminary Assessment) to assess the economic potential of the project and advance it towards the prefeasibility stage. As part of the Scoping Study, further metallurgical testwork is recommended to determine the copper recovery in a conventional heap leaching operation. RPA also recommends drilling to test the paleochannel exploration target south of the open pit area. The estimated cost of the recommended work is $C 200,000 (Table 1-1).

TABLE 1-1 RECOMMENDED WORK AND BUDGET SGV Emerald Isle Project, Arizona