Last Modified: 8/7/2008 7:58:51 PM
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Drilling

Results

 - Drilling

(last update 26/11/2007)

2007 Antares Drilling Program

Introduction

A total of 62 drill holes, totalling 24,604.62m have been completed at the Rio Grande project between 2001 and 2007 (Figure D1 and Table D1). In 2001, Teck Corporation (now TeckCominco) completed the first 11 holes (1-11) totalling 3,220.57m (Phase 1) on the project. In 2005, Antares Minerals completed Phase 2 drilling consisting of seven holes (12-18) totalling 1,763.40m. In 2006, Antares Minerals completed Phase 3 drilling consisting of 11 holes (19-28) totalling 3,382.30m. In 2007, Antares Minerals completed a more aggressive Phase 4 drill program consisting of 34 holes (29-62) totalling 16,238.35m. As of November 26, 2007, 16 of these holes (holes 29-43 and 48) had been reported (Tables D1 and D2) with the remaining 18 holes pending assay results.

All of the significant mineralized intercepts reported (2001 to 2007) are presented in Table D2.

Figure D1: Rio Grande Drillhole Location Map (Nov. 26, 2007). Click on this map to see the PDF version of this map.

2007 Antares Drilling Program

On June 4, 2007, Antares Minerals announced the commencement of a 15,000m drill program at the Rio Grande Cu-Au project. As of year-end 2007, Antares Minerals has competed 34 diamond drill holes totalling ~16,715.84m on the Rio Grande project and the satellite NE Target (Figure D1). Table D1 gives the details of the hole locations, final depths, azimuths and dips of all the 2007 drill holes. The 2007 campaign commenced in June and terminated in November. The initial part of the program utilized two drill rigs (both Boyles 56 rigs) from Boart-Longyear (formerly Connors Argentina S.A.) out of Mendoza, and one drill rig (Longyear 38 rig) from Falcon Drilling S.A. out of Salta. During the campaign one of the Boart-Longyear rigs was replaced by a second rig from Falcon drilling.

The objectives of the 2007 campaign were to:

(1)   to follow-up on encouraging results from previous drilling campaigns in the Sofia and Discovery Zones,

(2)   to drill test the remaining two-thirds of the “ring-fracture” system that has not been adequately explored to date, and

(3)   to provide an initial drill test of the satellite Northeast Target which bears geological and geochemical similarities to the nearby Lindero gold deposit owned 100% by Mansfield Minerals Inc.

2007 Antares Drilling Results (as of November 26, 2007)

Each of the drill holes completed and assays reported for the 2007 campaign are described below. As more drill holes are completed and assays reported, they too will be posted to this section of the web site. Each title below includes the hole number, X, Y, Z location, azimuth, dip, final depth).

RGA-07-029 (614389, 7230709, 4408m, 090°, -60°, 387.00m)

This shallow hole was drilled in the connection area between the Discovery and Sofia zones (Figure D1). This hole intersected narrow zones of low-grade Cu-Au mineralization (Table D2) and demonstrates that the Sofia and Discovery zones are connected.

RGA-07-030 (614253, 7231001, 4430m, 090°, -70°, 700.80m)

This deep hole was drilled in the Sofia zone beneath holes RGA-06-024 and RGA-06-026, both of which intersected good Cu-Au mineralization (Figure D1 and Table D2). RGA-07-30 was drilled to the west of RGA-06-26 to test for the down dip extension of mineralization and encountered narrower zones of sulphide mineralization with higher grades (17m with 0.69% Cu and 0.94 g/t Au).

RGA-07-031 (614456, 7230704, 4407m, 090°, -60°, 300.80m)

This shallow hole was drilled in the connection area between the Discovery and Sofia zones (Figure D1). This hole intersected narrow zones of low-grade Cu-Au mineralization (Table D2) and demonstrates that the Sofia and Discovery zones are connected.

RGA-07-032 (614201, 7230463, 4358m, 180°, -75°, 665.00m)

This deep hole was drilled to test for the down dip extension of mineralization in the Discovery zone (Figure D1). The hole intersected numerous 5 to 30 metre intervals of moderate-grade Cu-Au mineralization over a length of several hundred metres (Table D2). Down-hole surveys indicate the hole is strongly deviated and may not have completed tested the target area and therefore this hole was re-drilled as RGA-07-032A.

RGA-07-032A (614207, 7230462, 4358m, 180°, -75°, 406.20m)

This deep hole was located a few metres from the collar of hole RGA-07-032 and was designed to re-drill hole RGA-07-032, which was badly deviated. Again the objective was to test for the down dip extension of mineralization in the Discovery zone (Figure D1). The hole was lost at 406.20m due to driller error and never tested the intended target.

RGA-07-033 (614065, 7230185, 4317m, 180°, -60°, 266.15m)

This shallow hole was drilled to test the south-westward extension of the Discovery zone (Figure D1). The hole didn’t encounter any significant intercepts to report (Table D2) and together with other nearby holes suggests that the Discovery zone is possibly terminating to the southwest.

RGA-07-034 (614338, 7231149, 4460m, 090°, -70°, 541.00m)

This deep hole was drilled in the Sofia zone on the northernmost drill fence at the Sofia North zone (Figure D1) and intersected a 189 m interval with 0.70% Cu and 0.67 g/t Au commencing at a depth of 140 m (Table D2). This is the best intersection to date at the Rio Grande project. The hole is located immediately to the northwest of the two previous best holes: RGA-06-26, 150 m to the south (158 m with 0.46% Cu and 0.51 g/t Au) and RGA-06-24, 180 m to the southeast (128 m with 0.47% Cu and 0.71 g/t Au).

RGA-07-035 (613811, 7230145, 4327m, 180°, -65°, 302.65m)

This shallow hole was drilled to test the south-westward extension of the Discovery zone (Figure D1). The hole encounter a 30 metre wide zone of low-grade Cu-Au mineralization (0.32% Cu and 0.21 g/t Au, Table D2) and together with other nearby holes suggests that the Discovery zone is possibly terminating to the southwest.

RGA-07-036 (614062, 7230414, 4378m, 180°, -70°, 566.00m)

This deep hole was drilled to complete a drill fence within the central portion of the Discovery zone (Figure D1). The hole intersected 189 m of low-grade Cu-Au mineralization with numerous shorter sub-intervals of moderate-grade (Table D2).

RGA-07-037 (613941, 7230286, 4335m, 180°, -60°, 410.45m)

This intermediate depth hole was drilled to test the south-westward extension of the Discovery zone (Figure D1). The hole encountered numerous narrow zones of low- to moderate-grade Cu-Au mineralization (Table D2) and together with other nearby holes suggests that the Discovery zone is possibly terminating to the southwest.

RGA-07-038 (614354, 7230859, 4426m, 090°, -70°, 544.80m)

This deep hole was drilled in the Sofia zone beneath holes RGA-05-016 and RGA-05-018, both of which intersected moderate Cu-Au mineralization (Figure D1 and Table D2). Hole RGA-07-038 encountered a narrow zone of higher-grade Cu-Au mineralization suggesting that the system may become narrower and higher-grade with depth in this area (7 m with 0.76% Cu and 0.99 g/t Au).

RGA-07-039 (614064, 7230336, 4346m, 180°, -60°, 373.20m)

This shallow hole was drilled to complete a drill fence within the central portion of the Discovery zone (Figure D1). The hole intersected 223 m of low-grade Cu-Au mineralization with numerous shorter sub-intervals of moderate-grade (Table D2).

RGA-07-040 (614375, 7230612, 4386m, 180°, -75°, 688.90m)

This deep hole was drilled to complete a drill section at the northern end of the Discovery zone in the vicinity of several, previous drill holes and trenches with better grades (Figure D1). RGA-07-040 intersected 102.80 m with 0.58% Cu, 0.75 g/y Au, and 13.1 g/t Ag, which includes a zone of 25.20 m grading 1.37% Cu, 1.89 g/t Au, and 18.0 g/t Ag (Table D2). This high-grade zone is interpreted to be a feeder to the more extensive areas of lower- grade in the immediate area. Previous trench and drill core results from the vicinity of RGA-07-040 include the following intercepts: RGA-05-12: 86 m with 0.45% Cu and 0.66 g/t Au, Trench-1: 97 m with 0.57% Cu and 0.97 g/t Au, and Trench-2: 30 m with 0.74% Cu and 1.19 g/t Au. This area is emerging as a centre of higher-grades and warrants extensive follow-up drilling.

RGA-07-041 (614386, 7230571, 4372m, 090°, -60°, 354.75m)

This shallow hole was drilled to complete a drill section at the northern end of the Discovery zone in the vicinity of several, previous drill holes and trenches with better grades (Figure D1). RGA-07-041 encountered a 26.00 m interval with 0.47% Cu and 0.73 g/t Au within an envelope of lower-grade material (Table D2).

RGA-07-042 (613681, 7231830, 4440m, 180°, -50°, 338.85m)

This shallow hole was drilled to test the Cu and Au soil anomaly (Figures SG1 and SG2 in the Geochemistry Section) that defines the North zone of Rio Grande (Figure D1). The hole didn’t encounter any significant intercepts to report (Table D2).

RGA-07-043 (613844, 7231817, 4455m, 180°, -50°, 400.80m)

This shallow hole was drilled to test the Cu and Au soil anomaly (Figures SG1 and SG2 Section Geochemistry) that defines the North zone of Rio Grande (Figure D1). The hole intersected 151 m (from surface) with 0.40% Cu, 0.46 g/t Au, and 12.4 g/t Ag (Table D2).

RGA-07-048 (613684, 7231922, 4412m, 180°, -60°, 826.20m)

This deep hole was drilled beneath drill hole RGA-07-042, in the same section, and was designed to test for mineralization at depth (Figure D1). RGA-07-048 intersected 152 m with 0.44% Cu and 0.41 g/t Au, which includes a zone of 60 m with 0.54% Cu and 0.53 g/t Au (Table D2). The mineralization in RGA-07-048 is within a very extensive zone of lower average grade (428 m with 0.30% Cu and 0.29 g/t Au). The geometry of this mineralization is not well constrained and additional drilling will be required to determine true thicknesses. The lower portion of this mineralization is characterized by primary sulphide mineralization consisting of chalcopyrite and pyrite associated with extensive and locally pervasive replacement of the intermediate intrusive host rock by diopside and coarse secondary biotite. Grades locally exceed 1% Cu and 1 g/t Au. This is the best expression of this style of mineralization encountered to date at Rio Grande and hole RGA-07-048 was split and analyzed prior to other pending holes to more rapidly provide information to guide additional drilling in the area.

Previous Drill Campaigns 2001 to 2006

In 2001, Teck Corporation (now TeckCominco) completed the first 11 holes (1-11) totalling 3,220.57m (Phase 1) on the project. In 2005, Antares Minerals completed Phase 2 drilling consisting of seven holes (12-18) totalling 1,763.40m. In 2006, Antares Minerals completed Phase 3 drilling consisting of 11 holes (19-28) totalling 3,382.30m. All of the drill holes from these earlier campaigns are shown in Figure D1 and all the significant mineralized intercepts are listed in Table D2.

Table D1: Rio Grande Project Drillhole Collar Locations and Final Depths (Nov. 26, 2006).

DRILLHOLE

EASTING

NORTHING

ELEVATION

FINAL_DEPTH

AZIMUTH

DIP

RGT_01_01

614274

7230235

4364

296.27

Vertical

-90

RGT_01_02

614408

7230387

4383

304.80

Vertical

-90

RGT_01_03

614467

7230571

4405

310.29

Vertical

-90

RGT_01_04

614063

7230287

4356

294.13

235

-60

RGT_01_05

613594

7230446

4340

305.41

Vertical

-90

RGT_01_06

614096

7230696

4402

248.72

Vertical

-90

RGT_01_07

613135

7230722

4402

306.98

Vertical

-90

RGT_01_08

613957

7231108

4475

306.63

Vertical

-90

RGT_01_09

614583

7231235

4535

246.89

180

-60

RGT_01_10

614317

7231575

4570

295.35

180

-60

RGT_01_11

613393

7229872

4276

305.10

Vertical

-90

RGA_05_12

614498

7230479

4393

228.00

210

-60

RGA_05_13

614382

7230377

4379

360.00

180

-60

RGA_05_14

614410

7231128

4494

272.20

065

-60

RGA_05_15

614485

7231150

4514

177.00

065

-50

RGA_05_16

614490

7230875

4468

216.00

060

-50

RGA_05_17

614241

7231316

4514

182.00

035

-50

RGA_05_18

614416

7230849

4453

328.20

065

-60

RGA_06_19

613402

7230373

4320

366.60

000

-75

RGA_06_20

614198

7230229

4352

219.35

180

-60

RGA_06_21

614199

7230388

4367

354.20

180

-60

RGA_06_22

613135

7230643

4384

468.10

000

-75

RGA_06_23

613913

7230156

4347

270.80

180

-60

RGA_06_24

614429

7231000

4480

252.40

090

-60

RGA_06_25

613887

7230773

4404

537.45

000

-75

RGA_06_26

614344

7230999

4465

356.40

090

-60

RGA_06_27

613799

7230998

4437

212.60

000

-75

RGA_06_28

614379

7230569

4396

344.40

180

-60

RGA_07_29

614389

7230709

4423

387.00

090

-60

RGA_07_30

614253

7231001

4441

700.80

090

-70

RGA_07_31

614456

7230704

4429

300.80

090

-60

RGA_07_32

614201

7230463

4382

665.00

180

-75

RGA_07_32A

614207

7230462

4381

406.20

180

-75

RGA_07_33

614065

7230185