Ministry of Energy & MinesEnergy & Minerals Division ASSESSMENT REPORTGeological Survey Branch TITLE PAGE AND SUMMARY

TITLE OF REPORT [type of survey(s)] TOTAL COST

AUTHOR(S) SIGNATURE(S)

NOTICE OF WORK PERMIT NUMBER(S)/DATE(S) YEAR OF WORK

STATEMENT OF WORK - CASH PAYMENT EVENT NUMBER(S)/DATE(S)

PROPERTY NAME

CLAIM NAME(S) (on which work was done)

COMMODITIES SOUGHT

MINERAL INVENTORY MINFILE NUMBER(S), IF KNOWN

MINING DIVISION NTS

LATITUDE __________o __________’ __________" LONGITUDE __________o __________’ __________" (at centre of work)

OWNER(S)

1) 2)

MAILING ADDRESS

OPERATOR(S) [who paid for the work]

1) 2)

MAILING ADDRESS

PROPERTY GEOLOGY KEYWORDS (lithology, age, stratigraphy, structure, alteration, mineralization, size and attitude):

REFERENCES TO PREVIOUS ASSESSMENT WORK AND ASSESSMENT REPORT NUMBERS

(OVER)

TYPE OF WORK IN EXTENT OF WORK PROJECT COSTSTHIS REPORT (IN METRIC UNITS) ON WHICH CLAIMS APPORTIONED

(incl. support)

GEOLOGICAL (scale, area)

Ground, mapping

Photo interpretation

GEOPHYSICAL (line-kilometres)

Ground

Magnetic

Electromagnetic

Induced Polarization

Radiometric

Seismic

Other

Airborne

GEOCHEMICAL(number of samples analysed for ...)

Soil

Silt

Rock

Other

DRILLING(total metres; number of holes, size)

Core

Non-core

RELATED TECHNICAL

Sampling/assaying

Petrographic

Mineralographic

Metallurgic

PROSPECTING (scale, area)

PREPARATORY/PHYSICAL

Line/grid (kilometres)

Topographic/Photogrammetric (scale, area)

Legal surveys (scale, area)

Road, local access (kilometres)/trail

Trench (metres)

Underground dev. (metres)

Other

TOTAL COST

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!"#$%&%'()*#'&+",#-&).%"/'"(#)01)*#'23-&%$45)6#2'"7

Airborne 1-TEM Report Silver Phoenix Resources

i

 

 

 

 

       

  

River Jordan Project  Graham Boyd Ph.D. 

Jenny Poon B.Sc., G.I.T 

September 2013 

www.precisiongeosurveys .com 

355 Burrard St, Vancouver BC  

Canada V6C 2G8 

T: 604‐484‐9402 

Prepared For: Silver Phoenix Resources Inc. 

Airborne 1‐TEM Survey Report 

ii

Table of Contents

1.0 Introduction 1

1.1 Survey Area 2 1.2 Survey Specifications 8

2.0 Geophysical Data 10

2.1 Time Domain EM Data 10

3.0 Survey Operations 10 3.1 Operations Base and Crew 10 3.2 Field Processing and Quality Control 12

4.0 Aircraft and Equipment 12

4.1 Aircraft 12 4.2 Equipment 13

4.2.1 1-TEM Structure 13 4.2.2 Transmitter and Receiver Coil 15 4.2.3 Laser Altimeter 17 4.2.4 Pilot Navigational Unit and Data Logger 18

5.0 TDEM Data Processing and Evaluation 18

5.1 TDEM Data Processing 18 5.2 Evaluation 19

5.2.1 Block 1 Summary 19 5.2.2 Block 2 Summary 20

6.0 Deliverables 20 6.1 Digital Data 20 6.2 KMZ Grids 21 6.3 Maps 21 6.4 Report 21 Appendix A: Equipment Specifications Summary 22 Appendix B: Digital File Descriptions 24 Appendix C: River Jordan Project Maps 28

iii

L ist of F igures Figure 1: Airborne survey project location map 1 Figure 2: River Jordan project location relative to Revelstoke, BC on Google Earth 2 Figure 3: River Jordan Project - Block 1 survey boundary in brown 3 Figure 4: River Jordan Project - Block 2 survey boundary in orange 4 Figure 5: Plane View – Block 1 with actual survey lines outlined in yellow, and the

survey block boundary in brown 5 Figure 6: Terrain View – Block 1 with actual survey lines outlined in yellow, and the

survey boundary in brown 6 Figure 7: Plane View – Block 2 with actual survey lines outlined in yellow, and the survey block boundary in orange 7 Figure 8: Terrain View – Block 2 with actual survey lines outlined in yellow, and the

survey boundary in orange 8 Figure 9: Survey map of River Jordan project showing proposed survey blocks 1 and 2 with plotted survey lines in blue 9 Figure 10: Base of operation at Executive Flight Center north of Revelstoke, BC 11 Figure 11: Eurocopter AS350 registration C-GOHK 13 Figure 12: 1-TEM system towed 40 m below a Eurocopter AS350 14 Figure 13: 1-TEM structure with a single wrap of the transmitter loop 15 Figure 14: Transmitter console inside the helicopter behind the pilot seat 15 Figure 15: Receiver console inside the helicopter behind the co-pilot seat 17 Figure 16: Opti-Logic RS800 laser altimeter 18

L ist of Tables

Table 1: River Jordan project acquisition specifications 9 Table 2: River Jordan project – Block 1 survey polygon coordinates using WGS 84 in zone 11N 9 Table 3: River Jordan project – Block 2 survey polygon coordinates using WGS 84 in zone 11N 9 Table 4: Sample Window 16

L ist of G raphs

Graph 1: 1-TEM transmitter waveform 16

- 1 -

1.0 Introduction This report outlines the survey operations and data processing procedures taken during the airborne geophysical survey flown at the River Jordan airborne survey project. The project is comprised of two survey blocks: Block 1 and Block 2. The project area is located northwest of Revelstoke, British Columbia (Figure 1). The airborne geophysical survey was flown by Precision GeoSurveys Inc. for Silver Phoenix Resources. The geophysical survey was carried out on August 10, 2013 and completed on August 12, 2013. This survey saw to the acquisition of high resolution 1-TEM (Time Domain Electromagnetic) survey data.

Figure 1: Airborne survey project location map.

- 2 -

1.1 Survey Area The River Jordan project is located approximately 19.5 km northwest of Revelstoke, BC.

Figure 2: River Jordan project location relative to Revelstoke, BC on Google Earth.

The River Jordan project is comprised of two survey blocks: Block 1 and Block 2 (Figure 2). Block 1, to the south west, is approximately 1.4 km by 4.2 km (Figure 3). Block 2, to the north west of Block 1, is approximately 1.3 km by 3.5 km (Figure 4). A total of 111 survey line kilometers of time domain electromagnetic data were flown for this project.

- 3 -

Figure 3: River Jordan Project- Block 1 survey boundary in brown.

- 4 -

Figure 4: River Jordan Project - Block 2 survey boundary in orange.

The River Jordan project survey lines were flown at 100 meter spacing at a 030°/210° heading (Figures 5 to 8).

- 5 -

Figure 5: Plane View – Block 1 with actual survey lines outlined in yellow, and the survey block boundary

in brown.

- 6 -

Figure 6: Terrain View – Block 1 with actual survey lines outlined in yellow, and the survey boundary in

brown.

- 7 -

Figure 7: Plane View – Block 2 with actual survey lines outlined in yellow, and the survey block boundary

in orange.

- 8 -

Figure 8: Terrain View – Block 2 with actual survey lines outlined in yellow, and the survey boundary in

orange. 1.2 Survey Specifications The geodetic system used for this survey is WGS 84 and the area is contained in zone 11N (Figure 9). The survey data acquisition specifications and coordinates for the River Jordan project are specified as follows (Tables 1 to 3).

- 9 -

Figure 9: Survey map of River Jordan project showing proposed survey blocks 1 and 2 with plotted survey

lines in blue.

Survey Block

L ine Spacing

m

Planned Survey L ine km

Actual F lown

km

Survey L ine O rientation

Actual Survey H eight

m

Total Planned L ine km

Total Actual F lown

km

1 100 66 69 030°/210° 148

2 100 44 42 030°/210° 91

Total 110 111 Table 1: River Jordan project acquisition specifications.

Longitude Latitude Easting Northing N/S E /W 118.42784207 51.14004625 400113.31 5666367.73 N W 118.37503669 51.12371857 403772.70 5664481.97 N W 118.38431356 51.11233205 403099.94 5663228.20 N W 118.43754909 51.12901894 399409.98 5665154.73 N W Table 2: River Jordan project – Block 1 survey polygon coordinates using WGS 84 in zone 11N.

Longitude Latitude Easting Northing N/S E /W 118.37050839 51.14549843 404134.4713 5666897.6358 N W 118.32046189 51.14121811 407626.9783 5666357.8847 N W 118.32197254 51.13054458 407499.9780 5665172.5490 N W 118.37396235 51.13422586 403869.8874 5665648.8000 N W Table 3: River Jordan project – Block 2 survey polygon coordinates using WGS 84 in zone 11N.

- 10 -

2.0 Geophysical Data Geophysical data are collected in a variety of ways and are used to aid in exploration and determination of geology, mineral deposits, oil and gas deposits, contaminated land sites and UXO detection. For the purposes of this survey, airborne time domain electromagnetic data was collected to serve in the exploration of River Jordan project which is host to silver, lead, and zinc bearing rocks (Carpenter, 2008). 2.1 Time Domain EM Data Time domain electromagnetic surveys measures the electrical conductivity of the ground below the sensor. The electromagnetic response (decaying secondary electromagnetic fields) over time is measured as the system transmitter induces a series of short current pulses into the earth at increasing depths. 1-TEM is designed not only to detect near surface conductive mineral deposits but is designed to measure early time TDEM responses in providing high resolution and accurate geological mapping. Time domain electromagnetic surveys are commonly conducted for:

1. Exploring and mapping conductive mineral deposits. 2. Aid in hydrology studies and groundwater exploration. Identifying aquifers and

detecting water/salt water intrusions. 3. Utility for geotechnical engineering and mapping out permafrost.

3.0 Survey Operations Precision GeoSurveys flew the survey out of Revelstoke, BC. The experience of the pilot helped to ensure that the data quality objectives were met and that the safety of the flight crew was never compromised given the potential risks involved in airborne surveying. Field processing and quality control checks were done daily. 3.1 Operations Base and Crew The base of operation for this survey was at the Executive Flight Center (aviation fuel depot) in Revelstoke, BC. The Executive Flight Center is approximately 5.85 km north of downtown Revelstoke, BC and 14.1 km southeast of the River Jordan project (Figure 10).

- 11 -

Figure 10: Base of operation at Executive Flight Center north of Revelstoke, BC.

The Precision crew consisted of four members: Harmen Keyser – Pilot Stian Vaage – Ground support Graham Boyd and Jenny Poon – On-site geophysicists The survey was started on August 08, 2013 and completed on August 13, 2013. The survey encountered several delays due to weather and survey equipment malfunction.

- 12 -

3.2 Field Processing and Quality Control On a flight-by-flight basis, the survey data were recorded in real-time onto two CF card. One card directly saved the recorded data from the navigation system installed in the helicopter and the second CF card directly saved the recorded data from the 1-TEM data logger, the electrical console strapped onto the 1-TEM system as back-up. The data were then transferred and copied onto a field data processing laptop. The raw data files were initially processed in the field immediately after landing using Geosolutions extensive proprietary data processing software and viewed using Maxwell software between flights. This ensures the quality control is of the highest standard. Using Geosoft Oasis Montaj 8.0.1, fully processed data were converted and imported as Ascii files into Geosoft GDB database format for generating final map products to be included into the written report. Due to the precipitous topography, deeply incised gullies, and the geometric relationship between the laser altimeter, ground surface, and 1-TEM system attitude, the pilot in command’s decision on flight operations and safety on terrain clearance will be conclusive and binding. 4.0 Aircraft and Equipment Specification All geophysical and subsidiary equipment are carefully installed on Precision GeoSurveys’ aircraft. For this survey, a towed 1-TEM structure, 1-TEM transmitter (TX), 1-TEM receiver (RX), laser altimeter, Honda generator, data logger, and a pilot navigation unit were required to carry out the survey and collect quality, high resolution data. 4.1 Aircraft Precision GeoSurveys flew the River Jordan project using a Eurocopter AS350 helicopter (Figure 11), registration C-GOHK. A cargo basket on the left side of the helicopter contains a 24 HP Honda V-twin alternator system generator. This generator is the source of power for the transmitter. Using a towed 1-TEM system, the survey lines were flown at a nominal line spacing of one hundred (100) meters. Block 1 was flown at an average survey elevation of 148 meters vertically above ground and Block 2 was flown at an average survey elevation of 91 meters vertically above ground.

- 13 -

 Figure 11: Eurocopter AS350 registration C-GOHK.

4.2 Equipment Specification 4.2.1 1-TEM Structure 1-TEM is a third generation TDEM system evolved from extensive R&D work by Newmont and Normandy with their HOISTEM design in Australia, followed by extensive enhancements by GeoSolutions Pty. Ltd. as REPTEM and 1-TEM. The 1-TEM is a fully automated time domain electromagnetic system towed 40 m below the helicopter (Figure 12). The structure is designed to be lightweight, low polar moment of inertia, and stable low drag aerodynamics which is optimal in operating in mountainous terrain without compromising power and resolution.

- 14 -

Figure 12: 1-TEM system towed 40 m below a Eurocopter AS350.

The 1-TEM structure itself is 24 m diameter with an area of 275 m2 (Figure 13). The transmitter coil is wrapped around a single turn with an area 412 m2. This permits a very quick ramp-off time of 35 microseconds, which provides increased sensitivity in early time gates to significantly enhance spatial and vertical resolution. Also, the receiver coil is wrapped around once of an area 138 m2. With a 3 person crew, it takes approximately 6 hours to assemble and install the survey system.

- 15 -

Figure 13: 1-TEM structure with a single wrap of the transmitter loop.

4.2.2 Transmitter and Receiver Console The transmitter electronics are designed in house by Geosolutions (Figure 14) in Adelaide, Australia. Its current is 340 amps (depending on ambient temperature) with a 60 Hz sample rate – depending on the local powerline frequency.

Figure 14: Transmitter console inside the helicopter behind the pilot seat.

The transmitter waveform is a true square wave form (Graph 1) making it capable of measuring early time responses. This enables accurate geological mapping of shallow features as well as deeper conductive responses from later time gates. There are 21 sample windows recorded (Table 4).

- 16 -

Graph 1: 1-TEM transmitter waveform.

Window Sample T ime (μs)

Channel widths

CH01   112  25 CH02   137  25 CH03   162  25 CH04   225  100 CH05   325  100 CH06   426  101 CH07   527  101 CH08   679  202 CH09   932  303 CH10   1286  405 CH11   1742  506 CH12   2299  607 CH13   2957  708 CH14   3716  810 CH15   4577  911 CH16   5539  1012 CH17   6602  1114 CH18   7766  1215 CH19   9032  1416 CH20   10551  1619 CH21   11968  1215 

Table 4: Sample Window.

- 17 -

The receiver electronics are also designed by Geosolutions (Figure15). It has a sensitivity of +/- 10 volts with resolution of 0.1 microvolts. The electronics are implemented using Gate Array Technology for accurate high frequency A-D conversion. At 1.25 microseconds, A-D is sampled at 24 bits.

Figure 15: Receiver console inside the helicopter behind the co-pilot seat.

4.2.3 Laser Altimeter

The pilot is provided with terrain guidance and clearance information from two RS800 laser altimeters (Figure 16). One is attached at the center of the 1-TEM structure and the other at the mid right skid underneath the pilot seat. The laser altimeter had been modified to allow canopy and ground to be easily identified in the data stream. This gives a more meaningful height display to the pilot as well as allowing a final laser height above ground only to be produced. At 10 centimeter resolution it is sampled at 80 times per second. Through serial communications and digital outputs, the ground clearance data stream are transmitted to an RS-232 compatible port and recorded and displayed on the pilot navigational unit.

- 18 -

Figure 16: Opti-Logic RS800 laser altimeter.

4.2.4 Pilot Navigational Unit and Data Logger

The pilot navigational unit performs two tasks; displays gps navigational information and streams through laser altimeter height data. Prior to the start of a survey, a CF card containing a detailed flight plan will be displayed onto the screen to provide auto pilot guidance. It will direct the pilot to the first line and once flown it will automatically switch to the next line. To fly the same line over again, the line must be re-programmed into the flight plan. This reduces the pilot work load.

The data logger is located and strapped to the mid beam of the 1-TEM structure . Data is streamed through wifi and saved automatically onto the CF card. The data recorded is a back up copy as the data is also recorded and saved onto the electrical console behind the pilot seat.

5.0 TDEM Data Processing and Evaluation

5.1 TDEM Data Processing

After all the data were collected from a survey flight several procedures were undertaken to ensure that the data met a high standard of quality. All data were processed using Geosolutions proprietary data processing package and viewed using Maxwell. No commercial software is available to process ATDEM data. The processed data are available within approximately 15 minutes of aircraft landing. Data that did not meet flight specification were processed and removed. Fully processed data are then converted into an Ascii file to be imported in Geosoft Oasis Montaj 8.0.1 for final maps products to be generated.

- 19 -

5.2 Evaluation Airborne TDEM systems work very well when bedrock resistivities are in the range of 2 to 500 ohm-metres. Viewing the processed data through Maxwell, blocks 1 and 2 detected the host rock to be exceptionally resistive. In the absence of bedrock conductors all data from Block 1 and Block 2 showed no signal from the ground. The host rocks were most likely resistive in the range of greater than 2000 ohm-meters to 5000 ohm-meter or greater. All decays from rocks of these resistivities have eddied away before the first measurement window. Consequently, the only data measured is the system response which is normally measured from a high level flight. Good correlation was apparent between survey level data and the high level response in areas where no bedrock conductors were evident. Both blocks surveyed contained extreme terrain. In order to fly up the slopes, loops are often needed to gain the necessary altitude. This severely compromised the quality of the data on the upward slopes. To keep the1-TEM system in stable flight, a minimum forward airspeed is required down the slopes. This minimum forward airspeed restricted the rate of descent and large ground clearances could not be avoided. It is very difficult to fly with what would be considered acceptable ground clearances in more gentle terrain if normal survey practice is adhered to. In order to collect good data, it is recommended that in this terrain survey lines should be orientated to minimize the climb and descent rates. Due to high altitudes of the survey blocks, the motor generator providing power to the transmitter struggled to produce adequate power. At times it would shut off in mid-flight requiring a return to base to restart it. Variations in the system response that correlate with the transmitter current shut-off are evident in the data level shift as the motor generator varied in its power output. This problem has never been seen before at lower elevations. As a result to the pilot flying abnormally higher due to the rugged terrain, the laser altimeter cannot register readings that are above 250 meters above ground. Thus, the generated DEM (Digital Elevation Model) displays “striping” in certain sections of the grids for both Blocks 1 and 2. Because the system response is low level, in areas where no bedrock conductors existed the data is exceptionally noisy. Having no signal response from the ground, the data consisted of system response and noise only.

5.2.1 Block 1 Summary

Window 10 centered at 1.286 microseconds detected a bedrock conductor in this survey block. This bedrock conductor matched very well with the known sulphide mineralization provided by the client. A linear color stretch is used to clearly display the conductive bedrock in both Window 5 and Window 10. In an effort to enhance the bedrock conductors and minimize noisy data, the bad readings were deleted and each sample time has had a 100 meter wavelength butterworth filter applied to it.

- 20 -

5.2.2 Block 2 Summary The planned survey lines on each side were at an angle (planned on steep/extreme topography) causing them to be short. Thus, they were not flown without compromising the safety of the aircraft when conducting the turn-around to the next line. A linear color stretch is used to display at Window 5 and Window 10 EM data but no bedrock conductors were detected in this block. The high level and system response were not removed from the data as it tends to reduce the data to entirely noise. Variations in the response which correlate with variations in the transmitter current were evident. 6.0 Deliverables All digital data are presented on a compact disc (CD) and USB stick with the logistic report. The survey data are presented as digital databases, maps, and a report. 6.1 Digital Data The file format will be provided in two (2) formats, the first will be a .GDB file for use in Geosoft Oasis Montaj, the second format will be a .XYZ file, this is a text file. A complete file provided in each format will contain TDEM data. Full descriptions of the digital data and contents are included in the report (Appendix B). The digital data are represented into grids. The following grids prepared for the River Jordan project are listed below: For both Block 1 and Block 2

Digital elevation model (DEM) Block 1

Window 5 – at 0.325 msecs (W5) Window 10 – centered at 1.286 msecs (W11)

Block 2

Window 5 – at 0.325 msecs (W5) Window 11 – centered at 1.742 msecs (W11)

- 21 -

6.2 KMZ Grids The digital data represented into grids were exported into kmz files which can be displayed using Google Earth. The grids can be draped onto topography and rendered to give a 3D view. 6.3 Maps Digital maps were created for the River Jordan project. The following map products were prepared: Survey Overview Maps (colour images with elevation contour lines):

Flight lines Digital elevation model

Time Domain Electromagnetic Maps (colour images with elevation contour lines): Block 1

Window 5 –at 0.325 msecs Window 10 – centered at 1.286 msecs Window 10 – centered at 1.286 msecs with plotted flight lines

Block 2

Window 5 – centered at 0.325 msecs Window 11 – centered at 1.742 msecs Window 11 – centered at 1.742 msecs with plotted flight lines

All maps were prepared in World Geodetic System (WGS 84) and UTM zone 11N. 6.4 Report The report provides information about the acquisition procedures, TDEM processing, and presentation of the River Jordan project data. A pdf copy of the report is included along with the digital data and maps that are provided on the CD and USB stick.

- 22 -

Appendix A Equipment Specification Summary

- 23 -

1-T E M Specifications

Diameter (m) 24

A rea (m2) 375

No. of turns (wraps) 1

Peak Dipole Moment (Am2) 127,000

Duty cycle (%) 25

Coil orientation Z

Waveform Square

Sample Rate 60 Hz

Ramp-off time (µs) 35

Tx/Rx separation (m) 0

T X Current (amps) 340 at 80 volts

T X Coil A rea Single turn of 412 square metres

R X Sensitivity +/- 10 volts with resolution of 0.1 microvolt

R X Coil A rea Single turn of 138 square metres

Geometry In Loop

Base F requency (Hz) 25

Power source 24 HP Honda V-twin generator

W eight (kg) 330

Survey speed (km/h) 50-100

- 24 -

Appendix B Digital File Descriptions

TDEM database description Grids Maps

- 25 -

TDEM Database: Abbreviations used in the GDB files listed below:

Channel Units Description

X_W GS84 m UTM Easting – WGS 84 Zone 11 North

Y_W GS84 m UTM Northing – WGS 84 Zone 11 North

L ineNo Line numbers

T X_R X_GPSZ m GPS height – WGS 84 Zone 11 North

Lalt_m m Laser Altimeter readings

D E M m Digital Elevation Model

Current_Amp Amps Current provided to the Transmitter

Sample Windows μs Data windowed 1 to 21 channels

- 26 -

Grids: WGS 84 Datum, Zone 11N

G rid Name Description

RiverJordan_Block1_DEM.grd Block 1 digital elevation model

RiverJordan_Block1_Window5_GRD_s.grd Block 1window 5 at 0.325 msecs

RiverJordan_Block1_Window10_GRD_s.grd Block 1window 10 at 1.286 msecs

RiverJordan_Block2_DEM.grd Block 2 digital elevation model

RiverJordan_Block2_Window5_GRD_s.grd Block 2 window 5 at 0.325 msecs

RiverJordan_Block2_Window11_GRD_s.grd Block 2 window 11 at 1.742 msecs

- 27 -

Maps: WGS 84 Datum, Zone 11N ( jpegs and pdfs)

F ile Name Description

RiverJordanProject_Block1_1TEM_FlightPath Block 1with plotted actual flight path

RiverJordanProject_Block1_1TEM_DEM Block 1digital elevation model

RiverJordanProject_Block1_1TEM_Window5 Block 1window 5 at 0.325 msecs

RiverJordanProject_Block1_1TEM_Window10 Block 1window 10 at 1.286 msecs

RiverJordanProject_Block1_1TEM_Window10_with_ActualFlightPath

Block 1 window 10 at 1.286 msecs with plotted

actual flight path

RiverJordanProject_Block2_1TEM_FlightPath Block 2 with plotted actual flight path

RiverJordanProject_Block2_1TEM_DEM Block 2 digital elevation model

RiverJordanProject_Block2_1TEM_Window5 Block 2 window 5 at 0.325 msecs

RiverJordanProject_Block2_1TEM_Window11 Block 2 window 11 at 1.742 msecs

RiverJordanProject_Block2_1TEM_Window11_with_ActualFlightPath

Block 2 window 11 at 1.742 msecs with plotted

actual flight path

- 28 -

Appendix C

River Jordan Project Maps Survey Overview Maps (colour image with elevation contour lines): For both Block 1 and Block 2

Flight Lines (FL) Digital Elevation Model (DEM)

Block 1 Maps (colour image with elevation contour lines):

Window 5 – centered at 0.325 msecs (W5) Window 10 – centered at 1.286 msecs (W11) Window 10 – centered at 1.286 msecs (W11) with plotted flight path

Block 2 Maps (colour image with elevation contour lines):

Window 5 – centered at 0.325 msecs (W5) Window 11 – centered at 1.742 msecs (W11) Window 11 – centered at 1.742 msecs (W11) with plotted flight path

- 29 -

Map 1: River Jordan- Block 1 plotted actual flight path.

Map 2: River Jordan- Block 1 digital elevation model.

- 30 -

Map 3: River Jordan- Block 1 window 5 at 0.325 msecs.

Map 4: River Jordan- Block 1 window 10 centered at 1.286 msecs.

- 31 -

Map 5: River Jordan- Block 1 window 10 centered at 1.286 msecs with plotted flight path.

Map 6: Waverly Tangier plotted actual flight path.

- 32 -

Map 7: Waverly Tangier digital elevation mode.

Map 8: Waverly Tangier window 5 at 0.325 msecs.

- 33 -

Map 9: Waverly Tangier window 11 centered at 1.742 msecs.

Map 10: Waverly Tangier window 11 centered at 1.742 msecs with plotted flight path.

- 34 -

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Geophysical Interpretation Report

of the

River Jordan Property Revelstoke Mining District

British Columbia

For

X-Mark Minerals

REPORT BY

SCOTT HOGG & ASSOCIATES LTD

October 2013

1

TABLE OF CONTENTS

1  Introduction ................................................................................................... 2 2  Geologic Setting and Previous work ........................................................... 2 3  Aeromagnetic Survey ................................................................................... 5 4  Airborne Electromagnetic Survey ............................................................... 7 5  Ground Time Domain Electromagnetic Survey .......................................... 9 6  Interpretation and Recommendations....................................................... 14 Appendix – Map Images ................................................................................... 16 

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1 INTRODUCTION The River Jordan Property is located near Revelstoke B.C. and hosts the King Fissure Deposit of massive sulphides (Pb, Zn, Ag, and Ba). Work on the property has included geological mapping, ground mag and VLF-EM, sampling and geochemistry summarized in a 1991 report. More recent work includes a helicopter borne magnetic survey, an airborne electromagnetic survey and a ground Time Domain Electromagnetic survey. The results of these programs were provided to Scott Hogg & Associates Ltd. for interpretation with the objective of identifying potentially significant suphide zones. This report reviews the work done and provides recommendations. 2 GEOLOGIC SETTING AND PREVIOUS WORK King Fissure Deposit A Geological Assessment Report (22029), on the Geological, Geochemical and Geophysical Surveys of the River Jordan Property, 1991, by T. Clarke and J. Laird documents the known geological context of the formation. Their general description is the following. Structure The King Fissure Deposit lies within a southeasterly trending, southwesterly dipping syncline with approximate dimensions of 2.5km long by 0.8km wide. The fold has been named the Copeland synform by Fyles (1970). The Copeland synform is open and concentric in the western end, but tightens considerably to the east. In the western end, an anticline superimposed on the keel of the Copeland synform has created a "W" shaped folding pattern, effectively raising the structural level of the keel and establishing easterly plunges to folds. Structural measurements in the West zone indicate that the Copeland synform plunges approximately 30° towards 150° (Fyles, 1970). The central antiform, plunging more steeply than the Copeland synform, diminishes in magnitude towards the east, at some point disappearing entirely as three fold axes coalesce into one. Near this point on the surface a major northerly trending fault zone, known as the Camp fault, cuts across the synform with a dextral offset of approximately 20m. This late structure may be related to stress created at the junction of the earlier folding. East of the Camp fault the Copeland synform is assumed to have a near horizontal keel. Mineralization Exploration on the King Fissure Deposit is focused primarily on stratiform base-metal massive sulphides (Unit 5s) which occur near the top of the Unit 5 carbonate sequence. The sulphide horizon is well exposed along both limbs of the Copeland synform. Numerous trenches and shallow adits occur in the Cliff, East, and Northeast zones. Cliff Zone In the Cliff zone, massive sulphides range from 1.5m to >3m thick. A vertical zonation within the massive sulphide layer is recognizable; at the base is a dark weathering 0.2-1.0m layer of mostly sphalerite and galena, with minor pyrrhotite. This is overlain by 0.5-2m of rusty weathering, massive, fine-grained pyrrhotite containing eyes of grey quartz and fine grained sphalerite and galena. Above the pyrrhotite-dominant middle layer is a

3

0.2-1.0m siliceous horizon hosting coarse grained pyrite with galena, sphalerite, and minor pyrrhotite. This siliceous upper layer is most easily distinguished by its abundant pyrite and light grey to white weathered surfaces. Brecciation and footwall sulphide stockworking were noted in the Cliff zone. Maps The maps presented in the Geological Assessment Report, 22029 did not have any UTM grid or other map projection reference. In order to correlate the geological information including drill holes, sample sites and ground geophysical surveys the map presented on page 82 was visually registered with a NAD83 Zone 11N topographic map. The registration was an imperfect compromise but provided a means to incorporate the historical data with the newer airborne and ground geophysical surveys.

4

Figure 1 – King Fissure Deposit Geology; Report 22029, page 82.

The sulphide zone, Unit 5s, has been highlighted in mauve and illustrates the outline of the synclinal structure.

Figure 2 – Cliff Zone Ground Magnetic Survey; Report 22029, page 85.

The magnetic axes are highlighted in blue. The sulphide zone, Unit 5s, is highlighted in mauve. The sample site CZ-1 contained sphalerite, galena, pyrite and pyrrhotite. At sample site CZ-FZ1 coarse pyrite crystals were noted.

5

3 AEROMAGNETIC SURVEY A helicopter-borne aeromagnetic survey was carried out in June 2009 by Precision GeoSurveys on behalf of Silver Phoenix. A Scintrex CS-3 cesium magnetometer was installed in a nose boom on a Bell Jet Ranger helicopter. The line spacing was 100 m. on a heading 20 degrees east of north. The survey database contained a lagged and micro-levelled channel which was gridded at a 20 m cell size and the results are presented in Figure 3. There is an apparent magnetic correlation with the synform. To better map the finer detail in the magnetic survey the vertical magnetic gradient was calculated on a line by line basis using a Fourier Transform method. The results were gridded at a 20 m cell size and presented in Figure 4.

Figure 3 – Helicopter Magnetic Survey: Total Magnetic Intensity (nT). Nominal line spacing 100m.

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Figure 4 – Helicopter Magnetic Survey: Calculated Vertical Magnetic Gradient (nT/m). The vertical gradient map has highlighted some detail within the synform. Some of the amplitude variation from line to line can be attributed to variations in terrain clearance as illustrated in Figure 5. Nevertheless there are indications of structures aligned near parallel to the flight line direction. There is also magnetic detail within the synform which, in the vicinity of the Cliff Zone, has some correlation with the ground magnetic and electromagnetic surveys.

Figure 5 – Helicopter Magnetic Survey: Terrain Clearance (feet).

7

4 AIRBORNE ELECTROMAGNETIC SURVEY The airborne system is reported to consist of a vertical dipole transmitter with a concentric vertical dipole receiver. This superimposed dipole Tx/Rx configuration is similar to that used by the VTEM, Aeroquest TEM and and Dighem coplanar frequency domain systems. The response shape for these systems is illustrated in figure 6 for a thin steeply dipping conductor. A thin rectangular plate, 300 m in strike extent, 150 m in depth extent, 50 m below sensor with a conductance of 60 S was modelled with the University of Toronto Plate program. Strike and dip are indicated and the response amplitude has been normalized. For a steep dip, the anomaly profile has a local minimum over the upper edge of the conductor and the prominent side-lobe indicates the down-dip side. If the conductor is wide or flat-lying a broad response, without the characteristic “M” shape is produced.

Figure 6 – Response shapes for a superimposed vertical dipole electromagnetic system.

The signal to noise level of the system was low, partly as a result of the rugged terrain that led to terrain clearances of more than 200m over much of the survey. Nevertheless an anomalous response in the area of the synform was detected. A channel was created that was the arithmetic sum of channels 4 through 9. The channel was gridded and displayed in Figure 7. A contour was drawn representing the value 5500. This value is arbitrary. It was chosen to represent the extent of the broad conductive zone. The linear colour distribution of the grid was clipped at this value.

Figure 7 – Gridded Response of an Aggregate of Channels 4 to 9

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Note that the northern edge of the conductive zone lies to the south of the northern margin of the synform. The southern edge of the conductive zone follows the southern margin of the synform but extends southward in the vicinity of the sample site CZ-1. This may simply reflect a lower terrain clearance on line 1315; however, there is a similar indication of a southern extension in the ground TEM survey. The profile responses, including the summed aggregate channel were analyzed and possible conductor axes were identified and delineated. These are presented together with the geology map in Figure 8.

Figure 8 – Possible Conductor Axes and Geology

9

5 GROUND TIME DOMAIN ELECTROMAGNETIC SURVEY A ground electromagnetic survey was carried out by SJ Geophysics in August 2013 on behalf of Silver Phoenix Resources Inc. The system used was the Volterra TDEM with a fixed transmitter loop and moving receiver. The primary field produced by the transmitter loop was a square wave at 30 Hz. The B field receiver measured the vertical component of the sum of the primary and secondary fields. By measurement and calibrations the following information was provided at each receiver location.

HVEC 1,2,3 The vector components of the primary field Htotal The magnitude of the primary field Hsensor The vertical component of the primary field (HVEC3) CH1-15 The vertical component of the secondary field for each of the 15

time gates where 1 is the latest time and 15 the earliest. A procedure of continuous normalization was applied by SJ Geophysics to present the survey results on a line by line basis. The calculation was as follows:

For Channel 1

For Channels 2 to 15 Where CZn is the continuously normalized value for CHn

Respnse Shape The Volterra system produces an anomaly that is comparable in shape to the UTEM and other fixed loop TEM systems. Figure 9, below, shows a vertical section view of the primary field for a fixed loop system.

Figure 9 – Fixed Loop Ground EM Primary Field

10

The transmitter Loop lies to the left of the diagram with the Loop Front (green circle) perpendicular to the page. The primary field direction is indicated by the blue arrows. A conductive sheet is indicated in red with dips ranging from 15 to 165 degrees. For dips less than 90 degrees the primary field is near perpendicular to the plate and provides good coupling. As the dip increases the primary field becomes increasingly parallel to the plate and coupling diminishes. Independent of conductor size, depth and conductance, the level of coupling directly relates to the amplitude of the secondary field produced by currents induced in the conductor. These induced currents, in the plane of the plate produce the secondary field measured by the receiver. Figure 10, below shows various secondary field response shapes for a thin sheet at a variety of dips. The corresponding transmitter layout is that of figure 9.

Figure 10 – Fixed Loop Ground EM Secondary Field

The transmitter lies to the left and the Loop Front is illustrated by the green circle. The blue profile illustrates the shape of the anomaly associated with one of the time-gates. The response amplitude will vary depending on the time gate and conductance of the plate; however, the general profile shape will persist. Note that the amplitude of the profile is a minimum when the dip of the conductor provides poor coupling with the primary field. Also note the crossover in signal polarity is closely associated with the upper edge of the conductor.

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Decay Constant The Decay Constant (Tau) of a time domain measurement is proportional to the conductance of the anomaly source. The conductance, or Tau, increases with the conductivity, thickness, length and width of the source but is independent of depth. A higher value is usually taken as an indication of more favourable sulphide mineralization but it can be misleading in that it could reflect an increase in pyrrhotite as opposed to an increase in sphalerite. In preparation to calculate the decay constant at each station, the raw data was corrected for the primary field. The decay of the secondary field of a uniform half-space is given by the following exponential:

Where t is the time after the primary field is switched off, Ƭ is the decay constant (Tau), B(t) is the amplitude of the secondary field at time t and Bo is the amplitude of the secondary field at the moment the primary field is switched off (t=0). Bo is related to the size, shape and depth of the source. Tau is directly related to conductance. If Tau is low (or short), the field is decaying rapidly and conductance is low. If Tau is high (or long), the field is decaying slowly and conductance is higher.  Tau (Ƭ) can be calculated using the B field amplitudes at any two times in the decay curve:

Note that this expression is not only independent of Bo, but also independent of the units used to define the B field. The B field decay of an actual, non-uniform geological setting is a sum of exponentials, and Tau will vary along the decay array. For very short time spans (i.e. time gates that are adjacent or very close) Tau can be considered constant and equation (2) can still be used. Tau was calculated at each time gate along the B field decay curve, using a second time gate further in the array. This would most often be the next gate in the array, but if the difference of signal strength was below a difference threshold (i.e. could be affected by noise in the response) a time gate was chosen further along the curve. If the signal fell below the system noise threshold, Ƭ was set to zero.  The maximum Tau along the curve was gridded. Spurious values near the transmitter loops were omitted from the gridding process.

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Figure 11 shows the gridded response of the decay constant, with registered drill holes and CZ-1 and CZ-FZ-1 for reference.

Figure 11 – Decay constant of ground TEM survey The axes of the profile crossovers have been delineated on the interpretation map. On lines 850E, 950E and 1050E there is an axis em2a that roughly correlates with sample site CZ-FZ-1 that had some pyrite mineralization. The ratio of positive to negative response amplitude varies but generally suggests a steep dip. On line 850E the ratio is near 1 suggesting a steep but possibly northern dip towards the Tx Loop. On line 950 the negative response predominates suggesting a steep dip to the south, away from the Tx Loop. At the southern end of these lines is a second crossover indicating a conductor em1 along the base of the Cliff. The negative response is only recorded by the last reading on lines 850E and 950E but on line 1050E is better defined by 3 measurements. The shape suggests a southerly dip, away from the transmitter.

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On line 1100E there is a distinctive positive response at station 4850 with negative responses on either side extending to the north and south. This profile could be explained with two independent conductors, one on either side of the positive peak. The near constant response amplitude southward from station 4800 suggests a relatively flat-lying conductor beneath this section of line. The amplitude of the response associated with the northern conductor diminishes northward toward the Tx Loop and may indicate a steep dip. The positive peak between conductors may be a combination of two anomalies and attributing all or part of the response to the northern or southern anomaly is speculative and makes dip estimates, based on the profile shape, uncertain. On lines 1200E to 1450E a broad negative response zone is evident. A conductor axis em2b has been delineated near the northern edge of the survey that may reflect the northern margin of a near flat-lying conductor, open to the south. This northern margin em2b appears to be a dislocated continuation of the axis em2a defined on the western three lines. A fault displacement may be the cause; however, line 1050E used Tx Loop 1 and 1100E used Loop 2, a change that would energize the conductor with different emphasis. Overall the TEM survey suggests a broad conductive zone beneath the eastern part of the survey from line 1450E to 1100E with a time constant of 1 to 2 msec. Westward on lines 1050E to 850E the time constant diminishes and the northern margin may be displaced southward. A prominent conductor em1 with a time constant in excess of 10 msec follows the southern end of lines 850E to 1100E, roughly coincident with the known mineralization of the Cliff Zone. The peak response on line 1050E lies east of the ground tested by drill holes 6, 7, 8 and 9 and west of drill hole 5.

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6 INTERPRETATION AND RECOMMENDATIONS Typical conductivity values for a variety of minerals are summarized in the table below. Those noted in the River Jordan Cliff Zone area are highlighted. Mineral Conductivity (mhos/m) Resistivity (ohm-m)

Millerite NiS 3333333.33 3.00E-07 Niccolite NiAs 50000.00 2.00E-05 Pyrrhotite FeS 10000.00 1.00E-04 Arsenopyrite FeAsS 1000.00 1.00E-03 Galena PbS 500.00 2.00E-03 Chalcopyrite CuFeS2 250.00 4.00E-03 Graphite C 100.00 1.00E-02 Cassiterite SnO2 5.00 2.00E-01 Pyrite FeS2 3.33 3.00E-01 Magnetite Fe3O4 3.33 3.00E-01 Hematite Fe2O3 0.10 1.00E+01 Sphalerite ZnS 0.01 1.00E+02 Clearly pyrrhotite might be the dominant contributor to a conductance anomaly and sphalerite the least significant of the four minerals noted. While an increase in conductance or time constant could reflect a higher percentage of pyrrhotite in the mix it can also reflect a larger thicker zone of all the minerals, a favourable target zone. The conductive zone em1 at the southern end of line 1050E is a recommended drill target. The eastern end, with the highest time constant, lies east of the older drill hole 6, 7, 8, 9 and west of drill hole 5 and may reflect a higher thickness/grade of mineralization. The profile shape suggests a dip between vertical and 45 degrees south and thus would be ideally drilled from a location southwest of the conductor axis on line 1050E station 4850N with an azimuth of about 30 degrees east of north. In light of the rugged terrain the collar location will be constrained and the hole dip and azimuth will have to be adjusted to accommodate the selected site. The conductor em2a and the possibly associated sample site CZ-FZ1 do not fit the simple synform model presented in the report 22029. The presence of a central conductor, aligned with the synform keel may be an indication that the anticline or “W” fold noted at the western end of the formation is also present in this central section. The conductor may have been cut by one of the prior drill holes 6, 7, 8, 9. The conductor axis is very close to the collar location and a small error in the registration of the geological compilation map could put the collar on the south side of the conductor where the holes would not intersect it. Determining accurate drill hole collar locations in UTM coordinates would resolve this uncertainty. The conductive zone, south of the axis/edge em2b may have been tested by drill hole 5. As with conductor em2a to the west, an extra conductor has been added to the two associated with the conceptualized folded layer 5s. If this conductor could be associated

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with mineralization of interest it could be drill tested with a collar location near the southern end of line 1200E. The ground TEM data has been considered quite explicit in terms of defining a significant response for em1 at the southern end of line 1050E. It would be ideal to extend the lines to the south and north to fully define the response profiles but this is impractical in light of the terrain. The response on line 1100E and perhaps 1150E or 1200E could be modelled to provide some additional insight about conductor attributes and depth. Since prior drilling intersected mineralization in this vicinity such modeling may be informative but not critical to drill testing the conductors.

Respectfully submitted, ______________________________ ____________________________ Steve Munro Geophysicist Scott Hogg & Associates Ltd. Toronto, Canada October 31, 2013

R.L. Scott Hogg, P.Eng. President Scott Hogg & Associates Ltd. Toronto, Canada October 31, 2013

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APPENDIX – MAP IMAGES

17

Airborne Total Magnetic Intensity

Airborne Calculated Vertical Derivative

18

Airborne EM Profiles

19

Ground Decay Constant (Tau)

20

Ground Channel 6 Profile

21

Ground Channel 10 Profile