During a period between 1974 and 2008, multiple companies, including AMAX Exploration, Cyprus-AMAX, US Energy Corp, Phelps Dodge, Mount Emmons Mining Company, and Kobex Resources, completed 190,769 feet of surface and underground diamond drilling, as well as surface and subsurface geologic mapping and sampling of the Mt. Emmons molybdenum deposit.  A regional aeromagnetic survey was the only geophysical work completed at Mt. Emmons prior to the discovery of the molybdenum deposit.  Anomalous magnetic highs were found associated with molybdenum, gold, silver, zinc, tungsten, copper, lead and other mineralized rocks in Redwell and Red Lady Basins.  Upon the discovery of magnetite associated with the ore deposits, the aeromagnetic survey data (originally flown in 1970), was reinterpreted toward identifying the buried Red Lady Stock. Follow-up ground-based magnetic surveys on the southern slopes of Mt. Emmons confirmed the anomaly discovered during the reinterpretation. Other geophysical studies included a gravity survey and a complex resistivity survey. Survey results associated with the gravity survey were inconclusive. Results from the complex resistivity survey confirmed mineralization associated with sulfide ore materials along the Keystone and other local veins.

This mineral potential report was prepared in accordance with classification systems developed by the United States Forest Service, Bureau of Land Management, and United States Geological Survey by a Certified Professional Geologist registered with the American Institute of Professional Geologists (AIPG).