Long Canyon

The Long Canyon project encompasses 116 lode claims totaling 227 ha in the Long Canyon area of central Idaho, near the south end of a regional north-trending metallotectonic belt known for its granodiorite-hosted porphyry molybdenum deposits. Cominco American Resources Inc., drilled three holes in the Long Canyon area in the 1980s in the search for sediment-hosted massive sulfide deposits. One of these holes, LC-3, intersected an altered granodiorite body with quartz veins and locally abundant blebs of chalcopyrite and molybdenite. The bottom metre of this hole contained 1645 ppm copper, 2170 ppm zinc and 205 ppm molybdenum, encouraging evidence of a possible metal-rich porphyry system at depth. Nevoro plans to conduct surface mapping and sampling in November and an induced polarization survey in the second quarter of 2008 to establish targets for drilling in the second half of 2008.

 

Monarch

The Monarch project is located about 48 km (30 miles) north of Tonopah, NV, within a zone of Paleozoic rocks containing serpentenites, banded iron formations and massive sulfide gossans.

Geologically, the Monarch Project has many similarities with the Finnish Outokumpu massive sulfide deposit, which contains copper, zinc, cobalt, nickel, vanadium, selenium and minor precious metal values. Samples collected from the project during a preliminary site visit returned maximum values of 8,490 ppm copper, 2,400 ppm zinc, 186 ppm cobalt, 2,700 ppm nickel, 1,900 ppm vanadium, 31 ppm selenium, 120 ppb gold and 1.6 ppm silver. A mapping and sampling program is planned for the project with drilling anticipated in early 2008.

The property was acquired under a Lease with Option to Purchase Agreement from a private party. The basic lease terms call for a $4,000 payment on signing, $25,000 on the first anniversary and purchasing the claims with a $100,000 payment on the second anniversary. Minimum advance royalty payments of $30,000, $50,000 and $75,000 are due on subsequent anniversaries. A sliding scale net smelter return (³NSR²) royalty, from 2.5% to 5% based on the price of copper, and a 3% NSR on other metals, is paid to the owner and survives the purchase of the claims. Nevoro can purchase a 1% NSR royalty for $1,000,000. Nevoro is required to conduct a gravity survey on the property during the first year.

 

Jenny Hill

The Jenny Hill project comprises 182 unpatented claims in Mineral County, about 100 km (60 miles) southeast of Fallon, NV. The property is located on the northern margin of the Walker Lane structural belt and is situated on-trend between the 1.7 million oz Rawhide gold mine and the 1.5 million oz Paradise Peak gold mine. A large body of Mesozoic diorite has intruded Triassic sedimentary rocks creating extensive zones of skarn alteration with associated gold-silver-copper mineralization. Other targets on the property include the following

An extensive data package created by a previous lessee includes assays and logs for 10 RC holes, a detailed geological map, a ground magnetic survey and rock chip samples with multi-element assay results for the entire project as well as a gravity survey and soil sampling survey for selected portions of the project.

Earlier drilling on the fringes of the gold anomaly in calcareous sedimentary rocks intersected 22 m (75 ft) of 81 ppb gold, and drilling on the eastern edge of the diorite intrusive intersected 152 m (500 ft) of mixed altered dikes and skarn zones with a maximum gold value of 140 ppb. None of the other targets have been drilled and no multi-element analyses were done on any of the holes.

Nevoro will conduct detailed evaluations of the untested target areas and will do multi-element analyses on select intervals of the drill cuttings to determine mineral zonation patterns on the project. Drilling is anticipated in early 2008.

The property was acquired under a Lease with Option to Purchase Agreement from a private party. The basic lease terms call for a payment of $11,700 on signing with payments of $15,000, $25,000, $35,000 and $50,000 due on subsequent anniversaries. Nevoro is required to purchase the claims for $500,000 before mining activity begins. Up to $300,000 of previously made payments will be credited toward the purchase price. A 3% NSR royalty to the owner survives the purchase of the claims, and one third of this royalty can be purchased for $1,000,000.

 

Eagleville

Property Location and Ownership
The 121-claim Eagleville project is under lease to Nevoro and is situated in Mineral County, NV approximately 5 km east of the Rawhide mine.

Geology and Historic Development
The Eagleville project is situated within the Walker Lane mineral belt and is underlain by Tertiary and pre-Tertiary granitic intrusives cut by Mesozoic metamorphosed volcanic, sedimentary and intrusive rocks within a zone of crustal weakness.

Gold was first discovered on the project in the 1882. Production from the Eagleville mine was from three sets of parallel to sub-parallel vein sets traced along a strike length in excess of 1 km and up to 2 m in width. Between 1891 and 1895 the Eagleville mine reportedly shipped US$10,000 in gold ore with an average value of US$130.00/ton   (the gold value at the time was approximately US$20/oz.). Historic grades have been estimated to average between 1.7 and 6.2 oz/ton gold. Since closure of the mine, the project has only seen brief and sporadic episodes of exploration in the early 1980s and mid-1990s.

Planned Exploration
Previous geological mapping has identified, from south to north, the Golden Gate, Middle Eagle and Summit epithermal to mesothermal gold-bearing vein systems associated with intrusive rocks, which remain open along strike and at depth. More recent mapping has identified several barite veins and a very large area of intense phyllic and argillic alteration around the old workings indicating potential for a large possible porphyry-related, hydrothermal system. Nevoro plans to complete surface mapping and sampling as well as detailed underground mapping and sampling in preparation for a surface reverse circulation drill program.

 

Germany Canyon

Property Location and Ownership
Germany Canyon consists of 15 claims wholly owned by Nevoro in Nye County, Nevada, approximately 30 km east of the Rawhide mine.

Planned Exploration
Mapping and sampling is planned for Germany Canyon in 2008 to further define a structurally complex, high-grade gold zone which has characteristics similar to known Iron Oxide Copper Gold (IOCG) deposits.

 

CD

Property Location and Ownership
CD consists of 16 claims wholly owned by Nevoro situated in Esmeralda County, Nevada 75 km east of the Aurora mine.

Planned Exploration
The CD claims will have a mapping and sampling program in late 2007 or early 2008 to define an epithermal system associated with a range-front fault. Pending analysis of the results, drilling may be recommended in mid-2008.