| 2006
Work Done on Properties in 2006
June 5, 2006Based upon the encouraging results received from the phase 1 drilling program at the Eden project in January 2005, the company initiated a Phase 2 drilling program which began on June 3, 2006. In addition, the company has significantly increased its Golden Snow land position and advanced the exploration programs on four of its projects. Minterra recently completed an extensive gravity survey and a detailed ground magnetic survey across the Golden Snow project. Phase 2 drilling is permitted at Elder Creek and a rig is tentatively scheduled for late August. Phase 1 drilling intersected the Roberts Mountains Formation at a depth of 2,176 feet in diamond drill hole EC-2; additional data acquired during the Phase 1 drilling indicated that the portions of the historic Elder Creek pit mined for higher gold grades are about 400 to 600 feet northeast of the Phase 1 drill site. The Phase 2 program is designed to test the Roberts Mountains Formation beneath the historic high-grade zone. Drill permits are also complete for the Toy project which is located approximately 20 miles south of the Cortez Gold and Pipeline deposits and one mile south of the historic Toiyabe open pits mined during the 1980’s. Geophysical and geochemical surveys completed during the 2005 field season indicate a north-south fault fabric. The 2006 Agate Pass project exploration is currently in progress. Surface geologic mapping is underway and a detailed gravity program is nearing completion. Initial mapping is focusing along a northwest trending structural zone. Historic surface rock chip samples collected along this zone contain up to 2.01 ppm gold and include samples with 1.78, 1.16, and 1.1 ppm gold. Detailed mapping of the outcroppings in this zone has outlined highly brecciated and silicified siltstone with multi-stage open-space quartz-veining and in rocks that are strongly iron-stained. One of these zones is over 1,500 feet long and is cross-cut by several east-west trending, pyrite-bearing quartz veins. A program of rock chip sampling within these breccia zones is scheduled for late June and early July. Pending the results of the geologic mapping and geophysics a soil sampling program will be initiated. April 18, 2006 The Company will use the net proceeds from this placement to complete further drilling at the Elder Creek (Cortez trend) and Eden (West Nevada Rift) gold projects in Nevada, to continue exploration at the Golden Snow and Agate Pass gold projects, in the Cortez Trend of Nevada, as well as for general corporate purposes. March 13, 2006 The Company is pleased to advise it has acquired 12 claims, and has staked an additional 81 claims approximately 9 miles northeast of the Cortez Hills deposit, on the Battle Mountain - Eureka Trend. The Company has also acquired 19 claims, and has staked an additional 89 claims in the Western Gold Belt of Nevada. The company is very encouraged by several significant gold intervals intersected in three of the four drill holes completed during the Phase 1 program in January 2006. Four angle drill holes (3,860 feet) were completed to test a 6,000 foot long portion of the Eden Fault Zone at various depths. The Eden Fault Zone is over 2.5 miles (14,000 feet) long. A phase 2 drill program is currently being planned. The gold zoning indicates extensions at depth and along the southern extents of the Eden Fault Zone. Phase 2 drilling will test these zones. February 1, 2006 The Company has now completed 4 reverse circulation drill holes on the Eden project, located near Winnemuca, Nevada, and expects to provide results later this week. January 19, 2006 The Company commenced an initial five hole drill program at the Elder Creek Prospect, in the Cortez Trend, Nevada, in mid 2005. The first reverse circulation drill hole was abandoned as a result of technical difficulties. Drill hole EC-2 was pre-collared utilizing a reverse circulation drill rig to a depth of 1860 feet in June 2005 and subsequently completed to a total depth of 2305.5 feet to test for lower plate carbonate rocks that potentially host significant gold mineralization below the historic Elder Creek open pit. A limestone unit, believed to be the lower plate carbonate rocks, was intersected at a depth of approximately 2176 feet. Core have now been logged by the Company’s geologist in Nevada. Assays have been recieved and samples are being submitted for age dating of the limestone unit, to confirm that the unit is the lower plate carbonate unit of interest. A further four drill sites are currently permitted at locations which can test favorable structures where they intersect the lower plate rocks. | |


