antino43 101 technical report final

8/13/2019 Antino43 101 Technical Report FINAL

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TECHNICAL REPORT

ANTINO GOLD PROJECTSURINAME, SOUTH AMERICA

Prepared for

NEW SLEEPER GOLD CORPORATION

By

Adrian Fleming B.Sc. (Hons), M.Aus.I.M.M, M.A.I.G., RPGEOROCKWORKS LIMITED

20 Harbour Heights, Waverley, Dunedin 9001 New ZealandTel: 64 3 454 3684 - [email protected]

March 23, 2006

Sipaliwini DistrictSuriname, South America

Lat: 335' N, Long: 5405' W

Landsat Image of the Antino Project area in south-east Suriname taken in November 2001. The red line shows theboundary of the Antino Project area, Right of Exploitation 180/2005. The Lawa River is clearly evident. Areaswhich show in blue on this image to the south-west of the Lawa River identify small scale, gold mining activities.The green-blue area north of the Lawa River and east of the north-east corner of the Antino Project area is thetown and airport of Maripasula.
mailto:[email protected]:[email protected]


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TABLES OF CONTENTS

1.0 Summary.........................................................................................................................1 2.0 Introduction and Terms of Reference..........................................................................13.0 Reliance on Other Experts ............................................................................................2

4.0 Property Description and Location..............................................................................35.0 Access, Climate, Local Resources, Infrastructure and Physiography ......................55.1 Access ................................................................................................................................55.2 Climate...............................................................................................................................75.3 Local Resources, Infrastructure and Physiography............................................................7

6.0 History.............................................................................................................................7 6.1 Discovery and Early Production, 1891 to 1974.................................................................76.2 Recent History, 1993 to Present.........................................................................................86.3 NANAs Right to Mine....................................................................................................12

7.0 Geological Setting.........................................................................................................127.1 Regional Geology ............................................................................................................12

7.3 Upper Antino Geology.....................................................................................................167.4 Lower Antino Geology ....................................................................................................167.5 Maripasula Creek Geology ..............................................................................................17

8.0 Deposit Types................................................................................................................179.0 Mineralization ..............................................................................................................1810.0 Exploration ...................................................................................................................19

10.1 Introduction....................................................................................................................1910.2 Air Photo Interpretation .................................................................................................2010.3 Line Cutting ...................................................................................................................2010.4 Access Road...................................................................................................................2110.5 Auger Sampling .............................................................................................................21

10.6 Airborne Geophysics......................................................................................................2210.7 Core Drilling ..................................................................................................................2210.8 Ground Geophysics........................................................................................................2210.9 MMI Orientation Survey................................................................................................2310.10 Upper Antino Target ....................................................................................................2310.11 Lower Antino Target....................................................................................................2610.12 Maripasula Creek Target..............................................................................................28

11.0 Drilling ..........................................................................................................................3011.1 Auger Drilling, 15 meter................................................................................................3011.2 Core Drilling ..................................................................................................................31

12.0 Sampling Method & Approach...................................................................................3212.1 Auger Sampling, 1 meter deep.......................................................................................3212.2 Auger Drilling 15 meter deep ........................................................................................3212.3 Core drilling ...................................................................................................................32

13.0 Sample Preparation, Analysis & Security .................................................................3314.0 Data Verification..........................................................................................................3315.0 Adjacent Properties .....................................................................................................3416.0 Mineral Processing & Metallurgical Testing.............................................................3417.0 Mineral Resource and Mineral Reserve Estimates...................................................3418.0 Other Relevant Data and Information.......................................................................35

Antino Gold Project, Suriname Technical Report by Adrian Fleming March 2006


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19.0 Interpretation & Conclusions .....................................................................................3520.0 Recommendations ........................................................................................................3521.0 References.....................................................................................................................38 22.0 Appendices....................................................................................................................40

Appendix 1.....................................................................................................................40Appendix 2 ....................................................................................................................41

Appendix 3.....................................................................................................................4223.0 Certificate of Author........................................................................................................44

TABLE OF FIGURES

Figure 1. Suriname Location Plan.............................................................................................3Figure 2. Antino Project, Rights of Exploration granted to NANA in 1995.............................9Figure 3. Current Titles and Target Areas...............................................................................11Figure 4. Geology of Suriname ...............................................................................................14Figure 5. Upper Antino Target ................................................................................................24Figure 6. Lower Antino Target................................................................................................27

Figure 7. Maripasula Creek Target..........................................................................................28

TABLE OF PLATES

Plate 1. Antino Airstrip 7 Camp.................................................................................................. 5Plate 2. Typical ATV Track and ATV........................................................................................ 6Plate 3. Survey Monument Near Antino Camp ........................................................................ 21Plate 4. Location and Results of Channel Sampling by NANA at Upper Antino .................... 25Plate 5. The Author and Sytze Miedema Collecting Samples 254841 & 254842 at Upper

Antino.......................................................................................................................... 26Plate 6. Filuca with High Grade Gold Mineralization .............................................................. 29Plate 7. Location of Channel Sampling by the Author ............................................................. 30

LIST OF TABLES

Table 1. Antino Project Titles ................................................................................................... 10Table 2. Antino Exploration Activity ....................................................................................... 19Table 3. Selected gold assay results from Upper Antino Core Drilling ................................... 31Table 4. Selected gold assay results from Lower Antino Core Drilling ................................... 32Table 5. Proposed Program and Budget for First Six Month Period of Exploration................ 37Table 6. Proposed Program and Budget for the Second Six Month Period of Exploration...... 37



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1.0 Summary

Alluvial gold was first discovered in the Antino Project area in 1891 and since then there hasbeen continued but intermittent gold mining from alluvials and saprolite. Modern systematicexploration was carried out by Golden Star Resources Ltd. (Golden Star) from 1993 to 1997.Golden Star completed geological mapping, geochemical sampling, airborne and ground

geophysics and 6,000 metres of core drilling. Golden Star conducted most of its core drillingat the Upper Antino Target where gold mineralization is hosted by a shear zone, typical ofArchaen/Proterozoic greenstone hosted gold mineralization in other parts of the world. GoldenStar recognized intrusive hosted gold mineralization within the Antino Project Area but did notpay much attention to it. Since 1998 small scale gold mining has continued in the general area.In the southern part of the Antino Project area intrusive hosted quartz veins, some hosting veryhigh-grade visible gold mineralization, have been exploited, albeit on a very small scale. Theprevious exploration work did not adequately assess the potential of the intrusive hosted goldmineralization and it is this opportunity that should be the focus of future exploration activity.

A program of work is recommended to compile, and review all previous exploration data.

Field mapping and additional geochemical sampling is required. This should be followed upby drilling.

2.0 Introduction and Terms of Reference

This technical report has been prepared at the request of New Sleeper Gold Corporation (NewSleeper), a Canadian corporation whose common shares are listed on the TSX VentureExchange (TSX-V). New Sleeper has an office at 1111 St Charles West, East Tower, Office650, Longueuil, Quebec, J9K 5G4, Canada.

New Sleeper has recently entered into an agreement under which it may explore, develop andacquire the Antino project. This transaction is subject to regulatory approvals including theapproval of the TSX-V. This report was required by the TSX-V and concerns the AntinoProject, a gold occurrence, in the Sipaliwini District, in southeastern Suriname, South America.

This report reviews the ownership of the area covered by the Right of Exploitation GMD180/2005 referred herein as the Antino Project GMG 180/2005 and New Sleepers rights andinterests in Antino, the geology and mineralization at Antino, exploration work conducted to-date and historic plus present day small scale gold mining operations. This report identifiesexploration targets and recommends a program of additional exploration. All drillingmentioned in this report has been done using core methods (diamond drilling) unless otherwise

stated.

A large body of information has been generated by previous work at the Antino Project GMG180/2005. This Technical Report is based on geological reports, a compilation of publishedand unpublished data, maps, and other reports made by persons and entities cited in section 21,and a field examination of the Antino Project GMG 180/2005. No new data have beenproduced as a result of this compilation except for the assay results of some check sampling ofoutcrops undertaken by the author in February 2006.


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The author has discussed the Antino Project GMG 180/2005 in detail with Sytze Miedema, ageologist that worked on the project since 1993 and with Henk Naarendorp the President andsole shareholder of NANA Resources N.V. (NANA). The author visited the Antino ProjectGMG 180/2005 on February 21, 2006. On a number of occasions in the mid 90s the authorvisited the Antino Project area when he was Vice-President of Exploration for Golden Star.

During this period, Golden Star had an option on the Antino Property.

Most of the information about the property and surrounding areas are given in metric units.References to currency are in United States dollars. The following units of measurement andconversion factors are provided for clarification.

1 troy ounce = 31.103 grams1 ppm = 1 part per million1 ppb = 1 part per billiong Au/t means grams gold per metric tonne1 oz Au/ton = 34.286 g Au/t

100 hectares = 1 square kilometers1 foot = 31.28 cm or 0.3128 meters1 mile = 1.609 km1m

3= 1 cubic meter = 35.31 ft

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1 ton (Imperial) = 2240 lbs1 hectare = 10,000m2= 2.471 acres1 cubic foot = 0.028317 cubic metersMa = million years ago

3.0 Reliance on Other Experts

Numerous reports have been written describing the previous exploration work on the AntinoProject GMG 180/2005. Many of the persons that undertook that exploration work and whowrote those reports were experienced geologists who carried out their work using generallyaccepted industry practices at the time. Some but not all of those persons would have met thecurrent requirements of a Qualified Person at the time the work was carried out. Some of thework at the Antino Project GMG 180/2005 cited in this Technical Report was undertaken byGolden Star at the time the author was Vice President of Exploration for Golden Star (1996 to1998) and as such the author has knowledge of the activity and procedures used. As mentionedpreviously, this report draws extensively on the work of other persons, however, theconclusions and recommendations of this Technical Report are those of the author.


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4.0 Property Description and Location

The Antino Project GMG 180/2005 is located in southeastern Suriname, South America, closeto the border between Suriname and French Guiana. The centre of the property is at latitude 3o35 N and longitude 54

o05E. The project is 220 km south east of Paramaribo, the capital city

of Suriname, and 10 km west of the Lawa River which forms the border between Suriname on

the west and French Guiana on the east. The nearest town is Maripasula, in French Guianaapproximately 15 km east of the Antino Project.

Location of the Antino Project GMG 180/2005 is shown on Figure 1, as well as the existingroad network and current titles in Suriname for gold exploration and/or mining.

Figure 1. Suriname Location Plan


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Antino Right of Exploitation

The Right of Exploitation GMD 180/2005 (Figure 3) was issued to NANA in June 2000 (thenreferred to as GMD 180/2000). NANA is a private Surinamese company with its registeredoffice at Kleine Dwarsstraat #20, Paramaribo, Suriname. The Right of Exploitation wasrenewed on February 9, 2006 (GMD 180/2005) for a further five years and is current until

February 9, 2011. The Right of Exploitation can be renewed for three additional periods offive years each. The Right of Exploitation is a square area 10 by 10 km for a total land area of10,000 ha. Through the Right of Exploitation GMD 180/2005 and the Right to Mine Alluvials(GMD 432/98), NANA has the right to mine for gold and to carry out exploration. There are nooverlapping surface rights in the project area and, apart from the small scale miners, notraditional landowners live in the area.

On January 20, 2006, NANA and Laurentian Mountain Investments, Ltd. (LMI) entered intoan option agreement (the Option Agreement) under which NANA granted to LMI the right toexplore and develop the Antino Property. NANA also granted to LMI the option to acquire allof NANAs rights and interests in the project, subject to successful completion of the

requirements set forth in the Option Agreement and described below.

On January 23, 2006, LMI assigned and transferred all of its rights in the Option Agreement toNew Sleeper, subject to regulatory approvals (the Assignment Agreement). The soleshareholder and president of LMI is David Fennell who is also the Chairman of New Sleeper.The transaction between New Sleeper and LMI is therefore not at arms length and is subject tothe approval of the TSX Venture Exchange.

The consideration to be paid to NANA under the Option Agreement is as follow:

US$65,000 upon completion of a 90-day due diligence period, only if New Sleeperelects to continue with the Option Agreement; US$135,000 on the six-month anniversary of the first payment;

US$100,000 on the anniversary of the second payment; and US$200,000 on each subsequent anniversary, until the Option is exercised.

If NANA is required to cease its current exploitation activities (small scale) during theexploration phase, NANA will be entitled to receive an additional payment of US$300,000 peryear.

To exercise the Option and have the Right of Exploitation transferred, New Sleeper will haveto incur minimum expenditures of US$300,000 per year for a cumulative of no less than

US$5,000,000 during the first 60 months, complete a feasibility study and obtain the necessarypermits and approvals from the Surinamese government.

After having exercised the Option, New Sleeper will have to pay NANA the following:

US$500,000 within thirty days of receiving all necessary permits to construct andoperate the mine from the relevant governmental authorities.

US$1,000,000 twelve months after the commencement of commercial production.


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Quarterly payments equal to 1.5% (one and a half percent) of quarterly commercialmineral production.

Upon approval of the transaction between New Sleeper and LMI, LMI will be entitled toreceive the following consideration:

Upon definition of a 43-101 compliant mineral resource of 500,000 ounces on theAntino 1 Project, New Sleeper will have to issue to LMI 400,000 common shares; Upon definition of a 43-101 compliant mineral resource of 1,000,000 ounces on the

Antino 1 Project, New Sleeper will have to issue to LMI 400,000 common shares;

Upon definition of a 43-101 compliant mineral resource of 2,000,000 ounces on theAntino 1 Project, New Sleeper will have to issue to LMI a further 800,000 commonshares.

5.0 Access, Climate, Local Resources, Infrastructure andPhysiography

5.1 Access

The Antino Project GMD 180/2005 is most easily accessed by air from the airport Zorg enHoop in Paramaribo to a 600 m long laterite gravel airstrip located in the north west part of theproperty next to the Upper Antino Camp (Plate 1). The distance from Paramaribo to the airstripon the property is 270 km. The airstrip can handle small aircraft all year round. Airlinecompanies Blue Wing and Gum Air provide scheduled and chartered air services. Blue Winghas five Antonov AN-28 twin turbo aircraft with a capacity of 18 passengers or 1,850 kg ofcargo. This aircraft has a large rear cargo door. Other aircraft which are available are Cessna C-

206, Twin Otter and Cessna 208.

Plate 1. Antino Airstrip 7 Camp


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The Antino Project GMD 180/2005 can also be accessed from Maripasula in French Guianawhich receives regular flights by Air Guyana (three flights per day) from Cayenne using ATRaircraft.

There is intense charter activity to Tabiki servicing the local garimpeiro community (Brazilian

artisanal miners) in Suriname and across the river in French Guiana and it is possible to buyseats on regular flights.

The Antino Project GMD 180/2005 can also be accessed by driving 250km east of Paramariboalong a highway, the East West connection, (asphalt but in poor condition) towards FrenchGuiana and the town of Albina. Albina is at the mouth of the Marowijne River. From Albinathe project can be accessed by boat upstream along the Marowijne River which becomes theLawa River to Tabiki, a distance of 250 km. There is no regular boat schedule and cargo tripsare organized on a trip by trip basis by local contractors. These contractors are river dwellersand normally do not provide insurance. The best period for transport is from May to August,during the rainy season. Heavy equipment, for example a D6 Caterpillar bulldozer, can be

transported on wooden canoes but only at the height of the rainy season. From Tabiki to theproject, a bulldozed track established in 1994 for a distance of 15 km permits access but isrestricted to ATV vehicles and heavy tracked equipment. This road is generally not traversableby conventional four wheel drive vehicles.

There is no road access between Paramaribo, the capital city of Suriname, and the AntinoProject GMD 180/2005. There are a number of access roads throughout the Antino ProjectGMD 180/2005 that are readily accessible by four wheel motor bikes or ATV vehicles. Thisnetwork provides reasonable access to a significant part of the Antino Project area (Plate 2).

Plate 2. Typical ATV Track and ATV


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5.2 Climate

The Antino Project GMD 180/2005 is located at latitude 3o35 N and thus has a tropical humidclimate with dry and rainy seasons. The short rainy season lasts from mid-November to mid-February, the long rainy season from May to August. The most pleasant times to visitSuriname are the dry seasons; the short dry season from mid-February to May and the long dry

season from August to mid-November. Throughout the year, the average daily temperaturevaries between 21

oand 34

oC. Suriname lies outside the hurricane zone and the most extreme

weather condition is the "sibibusi" (which means forest broom), a heavy rain shower. Tropicalstorms can enhance shower conditions along the coast.

5.3 Local Resources, Infrastructure and Physiography

A good quality field camp exists at the Antino Project GMD 180/2005 adjacent to the 600 mlong laterite airstrip. There are three substantial wooden buildings currently occupied byemployees of NANA and some of the small scale miners. The camp has electricity, runningwater, radio communication and other facilities (Plate 1). This camp is also the location of a

shed housing all of the core from Golden Stars drilling. Part of this camp could be occupied byexploration personnel subject to an arrangement with NANA. There is a reasonable network ofATV tracks within the Antino Project area that permit access to much of the Antino Project.

The remote location of the Antino Project GMD 180/2005 means that local resources are verylimited. At Tabiki, 16 kilometers to the NE of the Project area, there is an airstrip and smallstores with limited supplies. At Maripasoula 24 kilometers to the east there is a simple hotel,eating houses and several stores with limited supplies.

The capital city of Suriname, Paramaribo with a population of 180,000 people is able toprovide services, supplies, equipment and personnel to meet most if not all of the demands of

an exploration program. There is an assay laboratory in Paramaribo which has the capability ofcompleting assays for gold and other elements. This laboratory is currently processing samplesfor companies like Newmont Mining and Canarc.

The local geomorphology is characterized by rolling hills resulting from the erosion of apeneplain marked by extensive lateritic duricrust at an average elevation of about 200 m. TheAntino Project camp and airstrip are located on a dissected plateau with abundant duricrustoutcrop. The area is in the Lawa River valley and the local creeks flow essentially to the east.Extensive alluvial gold mining has taken place in these creeks for over one hundred years.Areas still not mined are covered by typical tropical rain forest.

6.0 History

6.1 Discovery and Early Production, 1891 to 1974

The following summary of the discovery of gold in south-east Suriname and the districtencompassing the Antino Project was written by Sytze Miedema in February 1993 (Miedema,1993). Miedema accessed many documents, mostly written in Dutch, at the Library of the


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Geological and Mining Service Office in Paramaribo, a department of the Ministry of NaturalResources. The report was written for Golden Star.

The gold bearing alluvial deposits in the Lawa River area (the French wrote lAwa or lAoua) on thesoutheast border of Suriname with French Guiana were discovered towards the end of 1885 by twoFrenchmen, Rufin and Le Blond. The ensuing gold rush caused a border dispute between theNetherlands and France that in 1891 was settled by the Czar of all Russians, whereby the left bank of the

Lawa river was acknowledged as territory belonging to Suriname. The bona fide rights of gold extractionwere conceded to Le Blond, covering an area 29 km long and 24 km wide, on the left bank of the Lawa.

The concession rights were transferred in 1895 to the Compagnie des Mines dOr de la GuyaneHollandaise. This company worked the property from 1895 until 1928, and over this period recordedproduction was 316,840 troy ounces of gold. The gold was mainly won in the Pointu, Rufin, Roche andAntino creeks, all left bank tributaries of the Lawa River. The operations were all by hand, using sluiceboxes for the gold recovery. The material worked was alluvial gravel and, as in the Haut Antino,involved partly enriched red ferrallitic soil, possibly also weathered bedrock.

In 1928 this company ceased to exist and the concession came into the hands of NeotropicalConcessions Ltd., and in 1932 to United Goldfields of Guyana. The latter company tried to employsome activity, but came to nothing. From 1928 to 1935 no production figures are known.

At the end of 1935 a Dutch investors group, Sarakreek Goudvelden N.V., a company that had been operatingin the Sarakreek, also acquired the concession rights of part of the old Compagnie des Mines dOr de laGuyane Hollandaise concession on the Lawa river. This company operated from 1935 until 1963 andrecorded gold production of 85,439 oz. For the first time a mechanized mining system was introduced intothe Lawa area, using diesel load shovels for the stripping of the overburden and draglines for the haulage ofthe pay horizon. Sluice boxes recovered the gold. These activities were limited to the Rufin valley only.

The company allowed porknockers to work on their concession. They were obliged to sell all theirproduced gold to the company. They were active mainly in the Pointu, Rufin and Brichet creeks. Thelatter creek is a tributary of the Maripasula creek. Their number averaged 145 persons per year, with apeak of 225 in 1941. Their total recorded production from 1940 until 1964 was 52,110 troy ounces ofgold, leaving the balance of 33,324 troy ounces for the mechanized operation.

In 1963 Sarakreek Goudvelden N.V. ceased their operations. In that same year Lawa Goldfields Ltd., a subsidiary ofNorth Shore Goldfields Ltd. from Ontario, Canada, started a dredging operation with a bucket line dredge with 4.5Cu. feet buckets. Under the agreement with Sarakreek Goudvelden N.V. a royalty of 12 % of the gold value afterproduction costs, was to be paid. This dredge mined the Rufin creek valley over a distance of about 3.5 km, from1963-1969, and recorded a production of 23,151 oz of gold. The operation was considered a failure, largely due tobad cost estimates, ignorance of the ground and inexperienced management. Gold theft on a large scale was theresult and the operation was stopped in October 1969.

From the above the total gold production of this area of Suriname between 1895 until 1969 is 425,000 ounces.

In 1970 the firm Benz & Co. W.I.H.C. (West Indische Handels Compagnie) took over the concession rights andworked the area with porknockers. In 1973 there were still 10-15 porknockers active on the concession.

6.2 Recent History, 1993 to Present

The Right of Reconnaissance to an area encompassing the Antino Project GMD 180/2005 was firstgranted to NANA in June 30, 1993 over an area of 148,000 ha, known as the South Benzdorp Property.


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As a result of reconnaissance work, NANA was granted Right(s) of Exploration on the Antino,Kwatta and the De Goeje areas in 1995. The location of the three title areas is shown in Figure 2. Thiscontiguous area was the subject of Golden Stars extensive exploration program. Cut lines where 1meter auger sampling and 15 meter auger drilling was undertaken are shown on Figure 2.

Figure 2. Antino Project, Rights of Exploration granted to NANA in 1995


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In 2000, Rights of Exploitation were granted to NANA on the Antino 1 (BGD 180/2005) andAntino 2 (GMD 181/2005) areas. The Rights of Exploration to the Kwatta and the De Goejeareas could be renewed for two additional periods of two years according to the Mining Law.All of these titles are presently held by NANA. The current status of these titles is summarizedin Table 1 below. The Rights of Exploitation are renewable.

Table 1. Antino Project Titles

Area NameTitle Identification

Date Granted,Current To

Area Form of Title

South Benzdorp Property Jun 1993 1,480 sq km Right of Reconnaissance

Kwatta PropertyGMD 571/2005

Sep 1996Oct 25, 2007

300 sq km

De Goeje PropertyGMD 570/2005

Aug 96Feb 9, 2008

275 sq km

Antino GMD 398/95 Aug 1996 240 sq km

Right of Exploration

Antino 1 Property

GMD 180/2005

Jun 2000

Feb 9, 2011

100 sq km

Antino 2 PropertyGMD 181/2005

Jun 2000Feb 9, 2011

100 sq kmRight of Exploitation

The location of titles currently held by NANA is shown in Figure 3. The Antino 1 Right ofExploitation is the Antino Project (GMD 180/2005) that is the subject of this report. The othertitles shown on this figure are only provided as background information. Figure 3 also showsthe areas that were relinquished by NANA in 2005. This figure also shows the three TargetAreas within the Antino Project: Upper Antino, Lower Antino and Maripasula Creek.


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Figure 3. Current Titles and Target Areas.

On January 22, 1994, NANA and Golden Star entered into a letter agreement (the First Option

Agreement) pursuant to which NANA granted Golden Star the option to acquire a 100%interest in the Rights of Exploration for gold, diamond and other minerals on the entirecontiguous area defined in Table 1 above.

On July 5, 1999, NANA and Golden Star executed a Letter of Intent setting the terms andconditions under which Golden Star acknowledged the fact that NANA was conducting certainalluvial mining activities within the Project Area.


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On December 10, 2001 NANA and Golden Star entered into a further agreement which ratifiedthe Letter Of Intent executed on July 5, 1999 and replaced the First Option Agreement ofJanuary 22, 1994.

On January 20, 2006 NANA and Golden Star entered into an amending agreement wherebyGolden Star agreed to cancel its option over the Antino 1 Project Area, the Right of

Exploitation for gold bearing GMD 180/2005, in exchange for certain payments to be made byNANA to Golden Star and 0.75% of quarterly commercial mineral production. This AmendingAgreement did not cancel Golden Stars option on other NANA holdings in the SouthBenzdorp area that are subject to the December 10, 2001 Option Agreement.

6.3 NANAs Right to Mine

In September 1997, Golden Star gave NANA consent to carry out small scale mining in theAntino Project area. This was coincident with Golden Star placing the Antino Project on a careand maintenance basis and was done to protect the Project from an invasion by illegal small

scale miners. Subsequently on November 30, 1997, NANA was granted, by the Government ofSuriname, the right to carry out small scale mining of alluvial and soft rock mining on a portionof the Antino Project. In August 1998, this Right to mine alluvials (GMD 915/97) wasextended to cover a much larger area, GMD 432/98. The consent given by Golden Star wasformalized in a Letter of Intent dated July 5, 1999 and has been subsequently replaced by thepreviously mentioned Agreement dated December 10, 2001. It was also agreed betweenNANA and Golden Star that NANA would maintain the Rights of Exploration andExploitation in good standing.

Since 1997 from 10 to 15 groups each consisting of 8 to 10 men have been active in the AntinoProject area and adjacent areas mining gold bearing alluvials using hydraulicking and sluicing

techniques. Some of the alluvial operators use heavy equipment, for example a Cat 215backhoe, as part of the mining operation. Brazilian hammer mills with copper plates are alsoused to recover the gold from harder material. These groups work under a tribute agreementwith NANA and NANA has employees on site to monitor the performance of the miningwhich is governed by agreements with NANA.

Total gold production of all the small scale miners working under tribute with NANA sinceOctober 1997 to February 2006 is approximately 35,000 ounces (1085 kg). Current monthlygold production is approximately 350- 420 ounces (11 -13.kg).

7.0 Geological Setting

7.1 Regional Geology

The Precambrian crystalline basement of Suriname consists of two high-grade metamorphicgneiss belts of Archean and Lower Proterozoic age, a likewise Lower Proterozoic volcanic-sedimentary greenstone belt, and a granitoid-volcanic complex in-between. The basementcarries a few remnants of a once extensive cover of flat-lying Middle Proterozoic continental


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sediments (Roraima Formation) and is cut by abundant Middle Proterozoic and Permo-Triassicdolerite (diabase) dikes. Unconsolidated Cenozoic sediments form a fringe in the north (DeVletter, 1984). Figure 4 shows the regional geology of Suriname.

The low-grade metavolcanic and metasedimentary rocks in Suriname are known as theMarowijne Group, and occupy large areas in NE and E Suriname, and some smaller areas in

the north and northwest. They form part of a more or less continuous, generally E-W to NW-SE striking greenstone belt along the northeastern margin of the Guiana Shield (Gibbs, 1980).The stratigraphic succession, from the bottom upwards is; (1) volcanic-sedimentary series, theParamaka Formation composed of a basal sequence of mafic metavolcanics associated withmetagabbros, followed by intermediate volcanics; intercalations of metagraywacke and phyliteincrease from bottom to top; (2) volcaniclastic metagraywacke and phyllite, the ArminaFormation, and (3) meta-arenite-metaconglomerate, the Rosebel Formation, which alsocontains some intercalated metavolcanics.

The types and proportions of the volcanic and sedimentary rocks in the Marowijne Group andelsewhere in the Guiana Shield are similar to those of the Canadian Archean, and they differ in

these respects from the more mafic-ultramafic belts of the Australian, Indian and southernAfrican Archean (Gibbs and Barron, 1993).

A simplified geology map of Suriname is provided as Figure 4. This figure is based on the1977, 1:500,000 scale geological map prepared by the Geological and Mining Service ofSuriname (G.M.D). The existing road network in Suriname is shown as well as the location ofthe Antino Project.


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Figure 4. Geology of Suriname


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7.2 Property Geology

The Antino Project GMD 180/2005 is part of the larger Benzdorp mining district, which isunderlain by the Lower Proterozoic Paramaka Formation greenstone assemblage. TheParamaka Formation constitutes the basal portion of the greenschist to lower amphibolite faciesMarowijne meta-volcanic and meta-sedimentary Group. The Marowijne Group extends from

northeast Suriname southeastwards into northern and central French Guiana. The Rosebel golddeposits south of Paramaribo presently being mined by Cambior Inc. of Montreal, Canada, arelocated in its northwestern portion. The generalized geology of the Antino Project area isshown in Figure 3.

The Antino Project GMD 180/2005 is underlain by Paramaka Formation meta-volcanic-sedimentary lithologies of the Fatoe Switi greenstone belt composed of a northerly strikingassemblage from west to east amphibolite, andesite, dacite, meta-graywacke and siltstonelithologies which merge into a large pyroclastic agglomerate and lapilli tuff sequence in itseastern portion.

In the Fatoe Switi Hills on the western margin of the Antino Project the basal portion of theParamaka Formation describes a predominantly northerly strike which is an arc shape with itsconcave side to the east. Further to the east and within the Antino Project this open arc shapesynform tightens to a near isoclinal fold closing towards the west. Several small bodies ofmonzonitic to tonalitic composition intrude the Fatoe Switi assemblage.

A granite-gneiss basement surrounds the Fatoe Switi greenstone belt in the south and west.

The Fatu Switi greenstone has been mapped in detail within the Antino Project area. It iscomposed of a thick basal amphibolite outcropping in the west and southwest, in contact to thenorth-east with an assemblage from southwest to northwest of chlorite-graphite schist, sericiteschist, well bedded siltstone and greywacke with interbedded fine tuff horizons, and coarsevolcanic agglomerate. A 20 to 30 m wide horizon of hornblende porphyry occurs within theagglomerate in the Lower Antino target area. Lenses of metachert occur along the margins ofthe amphibolite.

The assemblage is intruded by both small and large tonalite bodies. These intrusives range incomposition from tonalite to diorite, to quartz diorite. The largest, measuring 3.5 by 1.5kilometres lies within the Maripasula Creek drainage (Figure 7). Another tonalite, 1.5 by 0.5km in diameter lies within the Upper Antino Valley. Many minor intrusive tonalite bodies existthroughout the Antino Project area. Their presence is often inferred only from float material.

The volcanic-sedimentary strata are close to vertical along schistosity planes oriented in anorth-south arcuate shape with their concave side towards the east. The distribution ofhornblende porphyry within the agglomerate in the Lower Antino Valley, mapped mainly asfloat, is believed to reflect a recumbent fold with an easterly oriented axis.

Regional cross faulting is visible on aerial photographs and satellite imagery. Field evidencefor these faults cannot always be found because of deep weathering, but in some locations thepresence of quartz veining and abrupt displacement of geological contacts corroborates their


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existence. The most prominent fault-fracture zone runs east-west in the Antino valley andappears to control the course of Antino Creek.

Field mapping suggests that the recumbent fold in the Lower Antino target area has beencaused by drag along this fault. The two elevated gold anomalies in the Antino Valley are bothon this fault. Northeast striking faults have resulted in displacement of the Fatu Switi

amphibolite belt (Miedema, 1996).

The Upper Antino gold mineralization is located within the western portion of the Fatoe Switigreenstone belt. Its bedrock lithology is composed of an arc shaped assemblage of intercalatingnorth striking meta-andesite, dacite, meta-greywacke and siltstone. There is a gold bearing,northwest striking quartz vein system with associated bedrock silicification sandwichedconformably within this assemblage. A northeast striking transverse fault at the north end ofthe deposit is believed to be the cause of the abrupt termination of mineralization.

As is the case for much of the subdued relief, tropical rain forest covered areas of SouthAmerica deep weathering is a characteristic of the geology of the Antino Project. Saprolite

extends to a depth of 30 to 50 meters. Supergene enrichment of gold and other minerals is alsoa characteristic of this type of terrain including the formation of laterite, often expressed as ironrich duricrust or true laterite. It is important to be cognizant of these surficial processes whendesigning exploration programs and interpreting geochemical and other data. Regolithmapping, which has not been carried out at the Antino Project, could assist ongoingexploration.

7.3 Upper Antino Geology

There are two larger gold in soil anomalies spread out over an area of 1.5 km by 1.0 km in thistarget area (Figure 5). What was referred to as the Central Zone anomaly was drilled most

intensively. It clearly relates to a NW striking shear zone that reaches 8 meters in thickness.The shear zone cuts through various lithotypes that are tentatively correlated with theParamacca Formation including andesite, felsic porphyries, gabbro and tonalite. The shear zonedips steeply to the NE. It contains up to 10% sulphides including pyrite, locally pyrrhotite andchalcopyrite and shows numerous specks of visible gold. Quartz veins appear within the shearzone and appear to be dismembered and stretched within it. The shear zone is offset by a lateeast-west striking fault underlying Antino Creek. The shear zone seems to reappear north of thebrittle fault and extends NNW for at least another 150 meters. The composite strike length ofthe shear zone is at least 350 metres and it may extend for hundreds of metres (Bardoux, 1996).

7.4 Lower Antino Geology

The Lower Antino target area covers 1.2 by 1.6 km and comprises two main zones ofanomalous gold in soil geochemistry on either side of a thick amphibolite body that appears tobe folded (Figure 6). This area is missing the andesite and it is underlain by mafic crystal tuff,tonalite, felsic crystal tuff, and polygenic agglomerate. Altogether these magmatic rocks arecorrelated with the Paramacca Formation. The principal soil anomaly (1.3 g/t Au) at the LowerAntino target seems to be related to a tonalite body (or dyke) that contains up to 10% pyrite.


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The tonalite body carries several mafic xenoliths and seems to be intrusive into the polygenicagglomerate (Bardoux, 1996).

7.5 Maripasula Creek Geology

The central portion of the Maripasula target is composed of a tonalite body of diorite to quartz

diorite composition (Figure 7). It extends 3.5 km north-northwest by 1.5-kilometer east-northeast. It is surrounded by north to northwest striking steeply northeast dippingchlorite/sericite schist with graphite schist and fine-banded quartz, siltstone and chert horizons.The tonalite is believed to be intrusive into the surrounding schist. Close to the contact itcontains numerous quartz veinlets and stringers in a boxwork-like arrangement of three to fourmeters width. Toward the northeast the schistose siltstone formation is followed by finegrained greywacke and coarse pyroclastic agglomerate.

A northeast striking transverse fault displaces lithologies along the southern tonalite margin.

Alluvial deposits of the Maripasula Creek and its southern Brichet Creek tributary cover the

volcanic-sedimentary formations. The alluvial deposits of virtually every creek are mined outby hydraulicking methods. Some alluvial mining is still going on. Recently high-grade goldmineralization was discovered below the alluvial cover in Brichet Creek on the contact zonebetween tonalite in the north and quartz bearing graphite schist in the south at the locationwhere a transverse fault has been projected. A shaft was sunk into the mineralization to a depthof 30 meters, but flooding aborted further advancement and the mining at this site had to beabandoned.

8.0 Deposit Types

Gold mineralization identified in the Antino Project GMD 180/2005 represents two differentdeposit types. Both are well documented from greenstone belts in other parts of the world. Thefirst type is shear zone hosted and the second is porphyry hosted.

The Upper Antino and lower Antino target areas are related to a prominent shear zone alongwhich there has been significant hydrothermal activity, alteration and mineralization. It isexposed at the ductile level. The mineralization is clearly mesothermal. The drill core with itsapparent zoned alteration is similar to the main zone at the Con/Giant gold mines atYellowknife, NWT, Canada.

The Maripasula target represents porphyry hosted gold mineralization comparable to the Pearl

Lake Porphyry and Dome occurrences at Timmins, Ontario, Canada and the now mined outOmai gold deposit in Guyana.


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9.0 Mineralization

The best know zone of mineralization is that at Upper Antino where a considerable program ofcore drilling has been undertaken. This mineralization is shear zone hosted and is associatedwith significant hydrothermal activity and alteration. The mineralization is characterized byopen spaced filling of quartz veins and sulphides. The dilatant zone is encased in a significant

zoned envelope of hydrothermal alteration. The central zone of this alteration is phyllic,containing quartz, sericite, biotite, pyrite and some ankerite. It closely resembles the phylliczones of many Archean shear zone gold systems, although perhaps the biotite is less developedhere. That being so one would expect the proportion of biotite to increase with depth.

In this zone original rock textures are almost entirely destroyed although relict S1 and porphyrytextures can be seen. There is development of a strong S2 cleavage which is essentially parallelto S1. The original magnetite of the mafic porphyries has been completely replaced by pyrite.This sulphidisation reaction was probably instrumental in the precipitation of gold. Gold valuesare proportional to the sulphide content.

i.e. 2Au (HS) + 2Fe3O4 = 3Fe2S + 2Au + H2O + O

The contacts of the phyllic zone with the quartz where present, are often sharp and seem tohave been smeared a little by younger tectonics. Contacts with the propylitic zone are abruptbut primary. Sericite is replaced by chlorite and epidote, and ankerite by calcite. Theabundance of pyrite decreases but is still after magnetite, some of which survives. Originaltextures are better preserved and S2 becomes progressively more oblique to S1 outwards. Thiszone gradually passes into one where epidote disappears and magnetite is almost unaffected.Some sulphides are still present but seem to be dominated by pyrrhotite rather than pyrite - inother words the availability of sulphur was: decreasing outwards. S2 is weaker and still obliqueto S1. This zone in turn gradually passes outwards into one with no secondary chlorite or

sulphides and in which S2 cannot be seen. It is amongst other things this outward decrease instrain and its change in orientation which defines this mineralized zone as a shear system.

The progressive destruction of magnetite into the alteration is significant not only in geneticterms but also for exploration. The gradual loss of magnetite can be seen for some metersbeyond the first significant increase in gold values and might be used as a guide tomineralization. For instance Hole (UA) 002 was originally stopped in an intrusion which it wasfelt had removed the mineralized zone. Later remodeling led to the hole being re-entered anddrilled successfully through the zone only a few meters beyond where it had been stopped.However the magnetite content of the last section of the intrusive is somewhat lower than thenorm for this lithology unaltered. Measurements of magnetic susceptibility might have

indicated the proximity of the mineralization (Badham, 1997).


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10.0 Exploration

10.1 Introduction

Documentation describing exploration in the Antino Project area prior to 1993 is fragmentaryand incomplete so it is not summarized herein. The discussion of exploration is therefore

focused on work carried out by Golden Star and subsequent parties. New Sleeper has not yetconducted any exploration work on the Antino Project.

The Antino Project GMD 180/2005 is only part of a larger area which was the subject of anextensive field exploration program carried out by Golden Star from early 1993 to mid 1997.During this period, Golden Star spent approximately $6 million exploring this area. Most of itwas spent on the Antino Project area.

Table 2 provides a summary of the major elements of field work carried out by Golden Star.The location of the Antino Project GMD 180/2005 with respect to previous titles held byNANA and optioned to Golden Star is shown on Figures 2 and 3.

Table 2. Antino Exploration Activity

Activity Period Comments

Air photo interpretation Feb 1993 Robert Dyer, Jens Touborg

Line cutting May 1993 - June 1997 265 km

Access road construction Nov 1993 15 km ATV trail fromTabiki to Antino Project

Auger drilling, 1m Jun 1993 Nov 1994 6,644 holes

Auger drilling, 15m Feb 1994 Feb 1997 Upper Antino 776 holes,9,121m Lower Antino, 194

holes, 2,870mPanned concentrate sampling of15 m auger holes

Mar 1994 Jun 1994 538 samples

Airborne Magnetics/Radiometrics Aug 1994 Aerodat

Core drilling Oct 1996 Mar 1997 Upper Antino, 49 holes,5,286mLower Antino, 10 holes,765m

Trenching Apr 1997 Upper Antino

Ground Geophysics March to June 1997 Magnetics & VLF-EM,28.43 line km

IP, 3.3 line kmMMI Orientation Study Oct 1997 95 samples


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10.2 Air Photo Interpretation

Golden Star retained a Brazilian geologist Robert Dyer early in 1993 to undertake an air photointerpretation to identify meta-volcanic terrain, major fold patterns and potential structures andcircular features possibly indicating intrusives. Dyer had access to 1:40,000 black & whiteaerial photography. Dyers work covered the Antino Project and the surroundings and the

Headleys Reef Right of Reconnaissance, north west of the Antino Project and 100 km south ofParamaribo. Documentation of this work has not currently been found among the archives ofthe Antino Project (Miedema, personal communication).

A second photo-geological study was undertaken in 1993 by Jens Touborg on 1:40,000 black& white photos, the same photos used by Dyer, and Landsat TM color composite (bands 4 -5 2) for circular structures and fold trends and Landsat TM black and white enhanced imageryfor linear trends. In the Benzdorp camp which encloses the Antino Project Touborg identifiedseveral gold trends:

a central belt 15 km long extending from Maripasula at the Lawa River inland withalignment of gold workings along ENE oriented axial plane fault trends and showingconspicuous proximity to circular structures, potential intrusives,

a smaller isolated belt to the south in an overburden-covered area and nondescriptgeological control.

an area associated with an isoclinal fold closure in basaltic volcanics and furthercharacterized by numerous circular structures,

an area to the south associated with fold closures and ENE oriented axial plane faults,and

the Surmanjerosula trend (south of the Antino Project) illustrating a 15 km long beltalong ENE oriented axial plane faults. The TM imagery reveals an alignment of smallscale circular structures- either fold noses or small-scale granitic intrusives.

A short report is available by Touborg (Touborg, 1993) but the maps he produced are held inthe records of Golden Star at their Office in Paramaribo.

10.3 Line Cutting

Line cutting at Antino began in May of 1993 following the establishment of two camps, one onthe Lawa River opposite Tabiki Island and the second camp north of the current AntinoProject. To begin with east-west lines were cut at 400 m intervals approximately 8 to 9 kmlong. This initial program of 400 m spaced lines was completed in early 1994. Subsequentinfill line cutting at 200 m line spacing continued through to 1997 (Miedema personal

communication). A reference monument was established at Upper Antino from which all cutlines were referenced. The cut lines were due east-west and were surveyed in using an UsikataSurvey compass. The grids that were established were mine grids and not based on UTM. Plate3 shows the survey monument for the upper Antino target area, this monument is near theAntino Camp.


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The location of the lines where the 1 m auger sampling was completed is shown on Figures 2& 3.

Areas of elevated gold values as identified by the 1 m auger sampling program were followedup by a 15 m mechanized auger drilling program. A total of 970, 15 m deep auger drill holeswere completed. This program is discussed more fully in Section 12, Drilling, below.

10.6 Airborne Geophysics

In 1994 Aerodat flew airborne magnetics and radiometrics over several project areas in theGuyana shield owned by Golden Star. The Antino Project area was part of the ground coveredby the Aerodat survey.

10.7 Core Drilling

Core drilling was carried out from October 1996 to March 1997 with a total of 59 holes for6,051 metres of drilling. This program is described in more detail below in Section 12.

10.8 Ground Geophysics

A ground geophysical survey was undertaken at the Antino Project from March to June 1997over both the Upper Antino and Lower Antino and target areas and the area between LowerAntino target and Maripasula Creek. The geophysical contractor was Crowe Schafilisky andAssociates (CSA Geophysics) from Ireland. Methods used were ground magnetics, VLF-EMand Induced Polarization (IP). A total of 28.43 line kilometers of ground magnetics and VLF-EM was completed. The ground magnetic program was initiated following recognition of thesignificant difference in magnetic susceptibility between the felsic intrusives and thecontrasting host rock volcanics. Magnetic susceptibility measurements were also recorded from

core from the Lower Antino drilling.

The strong magnetic pattern observed in the east portion of the Lower Antino target area wasshown to continue to the north. The elongated anomaly with westerly orientation was evidentin the northern portion of the target area and confirmed the folding structure defined by theairborne magnetic data and the surface mapping. Further work was recommended towards thesouth of the Lower Antino target area to follow up anomalous gold soil geochemistry but thiswas not done.

Ground magnetics in the Lower Antino target area to Maripasula Creek area readily identifiedthe two major lithological units; the intermediate, coarse, pyroclastic (agglomerate) sequence

from the sediments. The resulting stratigraphy defined a NW trend that is truncated and off setby the Antino Lineament (Belther, 1997).

In April 1997 two test IP lines for 2.3 km of surveying were completed over the Central Zonein the Upper Antino target area. The survey indicated weak anomalies over the shear zone.

Two IP lines for 1.05 line km of survey were carried out in the Lower Antino target area inApril 1997.The array was dipole-dipole with an a spacing of 100 metres. High chargeability


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Figure 5. Upper Antino Target

The principal mineralized lens was located in outcrop. It is undoubtedly discontinuous bothlaterally and vertically and probably plunges. The best interpretation of the plunge from extantdata is that it is gentle to the NW. The rough limits of this shoot are constrained by drilling tobe about 250m long, 100m deep and about 10m wide. While a number of intersections of ~10g/t Au have been made in this lens it is likely that there will be higher and lower grade shootswithin it. These will probably have the same overall plunge as the enveloping shoot. Anaverage grade cannot be established at present.

The known mineralized lens is offset at its northern extremity by a fault. The northern tip ofthe lens must lie at depth on one side of the fault plane and should be located by drilling. Thedimensions of the known system make it likely that other mineralized lenses will occur in or

very close to outcrop. It is also likely that there will be other lenses at depth. The exact controlsof the dilatant lenses and therefore their probable spacing are not yet known. A combination ofstructural studies and some relatively bold deep drilling should determine this.

Plate 4 shows results of sampling by NANA of the Upper Antino shear zone. The location oftwo channel samples is shown on the photo of the face while results of the 1 m sample intervalsare shown in grams gold per tonne in the lower part of the plate.


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American Assay laboratories from Reno, Nevada is annexed as Appendix 3. The style ofmineralization was as described above and consisted of quartz veins in highly altered shearedschistose host rocks (Plate 5).

Plate 5. The Author and Sytze Miedema Collecting Samples 254841 & 254842 at UpperAntino

10.11 Lower Antino Target

The Lower Antino Target was Golden Stars second priority target at the Antino Project area.Main features of this target are summarized below and based largely on Badham, 1997.

This target has a lower grade surface geochemical anomaly than Upper Antino. It consists of alarge area with over 500 ppb Au in soil and a smaller area of slightly higher values. The latterhas been initially tested by drilling, Figure 6. The exact position and orientation of themineralization need to be determined by deep auger sampling.

The anomaly is explained by a long intersection of weakly mineralized tonalite with abundantdisseminated pyrite. Gold values are proportional to the amount of pyrite. Gold values persistinto the metavolcanic wall-rocks.


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The tonalite is not obviously hydrothermally altered. The tonalite is not the mineraliser and it isunlikely that there is economic mineralization in this immediate area.

Figure 6. Lower Antino Target

To lower 2m and contact of the tonalite are particularly rich in pyrite and contain about 5 g/tAu in intrusive and wall-rock. The tonalite in this section is either more pervasively altered(silica) or is in fact a later, more siliceous intrusion. This could be a later intrusion along themargin of the tonalite. It would seem that this lithology could be the mineraliser. While it is toosmall here to be a target it is important to determine its nature: petrochemical examination isrecommended.

If the better mineralized section is found to be related to a late intrusion it is likely that this

protrudes from a central plug which may also be mineralized. Such a plug could be a veryattractive target. While its location cannot be predicted from the meager drill information it islikely to be within 500m and may lie beneath the large 500 ppb Au soil anomaly. A program ofdeep auger sampling coupled with ground magnetics is recommended over this area (Badham,1997).


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10.12 Maripasula Creek Target

The Maripasula Creek Target is found in the south central area of the Antino Property GMD180/2005 that was only covered by Golden Stars 1 meter deep auger sampling. Golden Stardid not undertake follow up work on this target. The creek here has been extensively exploitedfor alluvial gold and the small scale miners have discovered several zones of primary gold

mineralization which are now being mined, albeit on a small scale, Figure 7.

Near a camp controlled by a small scale miner called Para are several gold workings.

Figure 7. Maripasula Creek Target


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An area knows as Filucas Hole, located in Upper Brichet Creek (location UTM N21821,931N, 397,020 E), saw considerable gold production from a pit. Following mining fromthe pit a shaft was sunk to some 30 m near the contact of graphitic sediments and a quartzdiorite body. A drive was developed from the bottom of the shaft to access very high gradegold mineralization. However, the workings were overwhelmed by water. Filucas hole is nowsubmerged under a small lake. High grade gold mineralization with abundant visible gold in

quartz-schist breccia from these workings is shown in Plate 6. The mineralization appears tohave been hosted by schist on or near the margin of the intrusive.

Plate 6. Filuca with High Grade Gold Mineralization

An old excavation in quartz diorite at the western edge of this small lake, with a few visiblequartz veins, reportedly ran only low gold grade.

About 300 m to the west another exposure of mineralization within intrusive rocks is currentlybeing mined. Mineralization consists of a swarm of quartz veins in quartz diorite, on a hillslope at location UTM N21 821,420 N 397,405 E or 3

o35.430 N, 54

o06.422 W. The quartz

veins are up to 30 cm wide and mostly subvertical. The face being mined when the authorvisited this site on Feb 21, 2006 contained a quartz vein stockwork with a width ofapproximately 3 metres. Samples 254837 to 254840 were collected from this face, Plate 7.These samples assayed 17.7, 12.4, 19.9 and 1.2 ppm Au respectively. The assay certificatefrom American Assay laboratories from Reno, Nevada is annexed as Appendix 3. Less densethin (2 5 mm) quartz vein stockwork was observed adjacent to the more prominent quartzstockwork mineralization which was sampled and which the small scale mining foreman saidwas where the best gold for extraction was located. The mined material is being treated by twohammer mills and some 75 grams of gold per day is being recovered of approximately 850fineness.


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Plate 7. Location of Channel Sampling by the Author

The occurrence of gold mineralization within intrusives was not the focus of exploration byGolden Star during the period of that companys work at the Antino Project. The recent(February 2006) recognition of this style of mineralization is an important development for theAntino Project and future exploration work should be focused on this style of mineralization aswell as the shear zone hosted mineralization already defined at Upper and Lower Antino. Theintrusive hosted mineralization may offer potential for significantly more tonnages of materialthan the shear zone hosted mineralization.

11.0 Drilling

11.1 Auger Drilling, 15 meter

The 15 m auger drilling program was undertaken from February 1994 to February 1997 andconfined to the Antino Project area with samples at 50 m spacing along cut lines, later closingin to 25 m and in some areas at 10 m and 5 m sample spacing to imitate trench sampling. Thelocation of the 15 m augering was selective and confined to zones of anomalous gold values asindicated by the 1m auger sampling. 15 m auger drilling was firstly directed to areas where the1 m auger samples returned values greater than 0.3 g/t Au and later to areas where the 1 m


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auger samples returned values greater than 0.1 g/t Au. The 15 m auger sampling wasundertaken with a motorized cup auger of 100 mm diameter.

11.2 Core Drilling

Core drilling commenced at the Antino Project in October 1996 using a Longyear 38 core drill

operated by Forage Orbit Inc. with HQ and NQ core recovered.

In 1996, thirty three (33) core drill holes were completed in the Upper Antino Area with a totallength of 3,165 m with 2,153 samples submitted for assay. Holes were located to test fourtarget areas. 24 holes were located in the Central Zone on sections at 50 m spacing, 4 holeswere drilled in the Middle Zone, 3 holes drilled at the NE Zone and 2 holes on the NW Zone(Belther, 1997).

In 1996, four (4) core drill holes were completed at the Lower Antino area for a total of 341 mwith 302 samples being submitted for assay. The target was the most eastern anomaly (Belther,1997).

In 1997, sixteen (16) core drill holes were completed at Upper Antino for a total of 2,121 m ofdrilling

In 1997, six (6) core drill holes were completed at Lower Antino for a total of 386 m ofdrilling.

Selected results from the Upper Antino core drilling are shown on Table 3. The interval lengthis the length of core sampled. True width of the intersections is not known. The inclined coreholes were drilled with an azimuth at right angles to the strike of the Upper Antino shear zone.

Table 3. Selected gold assay results from Upper Antino Core Drilling

Hole No. From (m) To (m) IntervalLength (m)

GradeAu (g/t)

UA002 61.0 69.0 8.0 11.57

UA008 69.0 73.0 4.0 35.71

UA017 19.5 21.65 2.15 7.76

UA020 23.74 29.0 5.26 6.57

UA025 48.0 50.0 2.0 6.47

UA026 44.0 47.0 3.0 13.97

UA028 32.0 34.0 2.0 32.51

104.8 107.6 2.8 18.28

Selected results from the Lower Antino core drilling are shown on Table 4. The interval lengthis the length of core sampled. True width of the intersections is not known. The inclined coreholes were drilled with an azimuth at right angles to the strike of the Lower Antino shear zone.A complete data base is not available for the Lower Antino drilling.


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Table 4. Selected gold assay results from Lower Antino Core Drilling

Hole No. From (m) To (m) IntervalLength (m)

GradeAu (g/t)

LA001 68 69 1 7.65

LA004A 92 93 1 11.94

LA007 66 67 1 5.9

12.0 Sampling Method & Approach

Golden Star undertook three separate phases of sampling at the Antino Project; 1 m augersampling, 15 m auger drilling and core drilling.

12.1 Auger Sampling, 1 meter deep

This sampling was undertaken on the cut lines. An open, 50 mm diameter screw auger was

used. The site was cleaned of organic matter, leaves, branches and small vegetation growthwith cutlass and the hole drilled by hand. The screw was 20 cm long so it took 5 lifts tocomplete each hole. The top 10 to 20 cm was discarded, potentially contaminating materialshaved off the outside of the screw and the balance of the material decanted into a plasticsample bag. The samples were about 2 kg. A sample tag was placed inside and outside the bag.No site processing or drying was undertaken, the whole sample sent to the laboratory inParamaribo generally by charter aircraft.

12.2 Auger Drilling 15 meter deep

The procedure used to collect the 15 m auger samples was to clear the surface and clear a site

for the machine and the 2 persons operating the equipment. Generally a crew of 4 or 5undertook this sampling. A mechanized spoon auger, 100 mm in diameter was used with liftsof 25 cm. A sample was collected for each meter of advance. Material was dumped on a ricebag with 15 to 16 kg wet sample per meter. Samples were carried to the camp. The procedureused at the early stage of the 15 m auger drilling program and only in 1994 is described inAppendix 1. It entailed processing of part of the sample on site with panning and collection ofa concentrate which was subsequently assayed in Paramaribo. However, this procedure wasslow and arduous and abandoned later in 1994 after four months of work (Miedema, personalcommunication). The other split was assayed in Paramaribo.

Subsequently samples were dried at the camp, quartered with a Jones splitter with one quarter

sent to the laboratory and the balance kept on site.

12.3 Core drilling

The core drilling recovered some HQ saprolite core but most of the drilling was with NQ sizedtools. Samples were placed in plasticised core trays, transported to the camp and followinglogging, saprolite material was split with a cutlass, while harder material was cut with a core


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so the data base is regarded as being reliable. However, in due course spot checking andverification of the digital data base must be done to confirm its accuracy.

A local grid was established by Golden Star at the Antino Project. All cut lines and drill collarswere surveyed and referenced to a survey monument near the camp. The surveying was doneby experienced Brazilian geological technicians using an Ushikata survey compass. To this end

the relative accuracy of the data presented in this report is judged to be satisfactory.

The data obtained in the programs carried out by Golden Star is regarded as being reliable. It isthe authors opinion that the data as presented in this report can be relied upon and is asatisfactory basis upon which to plan and carry out additional exploration programs at theAntino Project.

15.0 Adjacent Properties

To the north and west of the Antino Project GMD 180/2005, Benzdorp Gold N.V. holds Rights

of Exploration GMD 094/05, GMD 629/05, GMD 631/05 and GMD 764/05. These Rights ofExploration are the subject of a Joint Venture between the Suriname State Mining Company,Grasshopper Aluminum Company N.V. (Grassalco) and Canarc Resource Corp. (Canarc)a Canadian listed exploration company. The boundary of the Antino Project and the abovementioned Rights of Exploration are contiguous. These Rights of Exploration have been heldsince late 1993. Canarc has conducted extensive programs of exploration on this area includinggrid geochemical sampling, trenching and core drilling.

NANA holds three titles south to the Antino Project GMD 180/2005, (see Figure 3). GMD181/2005 is the other of two separate but contiguous areas and is a Right of Exploitation.GMD 570/2005 and GMD 571/2005 are two Rights of Exploration. It is not known if NANA is

carrying out small scale mining or exploration on these titles.

There are no other properties adjacent to the Antino Project GMD 180/2005.

16.0 Mineral Processing & Metallurgical Testing

No mineral processing or metallurgical testing has been undertaken on samples or materialfrom the Antino Project GMD 180/2005.

17.0 Mineral Resource and Mineral Reserve Estimates

No estimates of Mineral Resources or Mineral Reserves, as defined in NI 43-101, have beenmade for the Antino Project since February 1, 2001, the date NI 43-101 came into force.

The figures included in this report are not indicative of nor do they qualify as MineralResources or Mineral Reserves under NI 43-101. Further exploration will be required in orderto define Mineral Resources (as defined in NI 43-101) within the Antino Project and it is not


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certain that such further exploration will result in the discovery and definition of a MineralResource at the property.

18.0 Other Relevant Data and Information

During the compilation of this Technical Report it was apparent that NANA does not hold acomplete set of data from the exploration carried out by Golden Star. Some of this missing datais still held at the office of Golden Star in Paramaribo. Golden Star is open to providing accessto this information. The data tapes from the airborne geophysics flown from August 1 to 6,1994 by Aerodat, for instance, were not identified. Efforts should be made to obtain this rawdata so it might be reprocessed and evaluated.

Suffice to say the author was able to review a significant proportion of the data and reportsgenerated by Golden Star on the Antino Project GMD 180/2005, to the extent that it is theauthors opinion that this Technical Report provides a reasonably comprehensive review of theAntino Project GMD 180/2005.

19.0 Interpretation & Conclusions

The various phases of exploitation and exploration at the Antino Project and the district withinwhich the Antino Project GMD 180/2005 lies since 1891 were directed to recover gold fromalluvials and saprolite. The current small scale mining continues to extract gold from thesematerials.

The extensive, systematic program of exploration carried out by Golden Star from 1993focused mainly on shear zone hosted gold mineralization at Upper and Lower Antino

prospects. Golden Stars core drilling indicates that the shear zone hosted mineralization haslimited tonnage potential and is not the primary target which New Sleeper should be pursuing.

20.0 Recommendations

Despite the fact that a considerable amount of exploration work has already been carried out atthe Antino Project GMD 180/2005, there is good potential for defining additional goldmineralization.

Prior to commencing a program of field work a survey crew should be sent to the AntinoProject with differential GPS equipment to accurately survey in a selection of core drill collars,the survey monument and distal parts of the grid lines to provide accurate UTM control for allproject data.

Additional compilation of the existing exploration data needs to be undertaken. Not all of thedata from previous exploration programs is in a digital form. Digitising of this data is a highpriority. Some important information from the previous work has not been located. For


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instance, the raw data from the airborne magnetics/radiometrics flown by Aerodat in 1994 mustbe recovered and reevaluated.

Synthesis and evaluation of all of the data from the past exploration work needs to be done indetail prior to a new program of exploration being initiated. It will be important to examine theentire project area and not become fixated on those locations where the deeper auger drilling

and core drilling has been carried out. As an example, during the previous exploration programcarried out by Golden Star assay results from the 1 m auger sampling were examined andpriority for follow up work was given to target areas defined by samples returning valuesgreater than 0.3 g/t Au and 0.1 g/t Au. Auger drill hole assays as low as 0.1 g/t Au, or lower,may be indicators of target areas that should be examined in more detail.

Quick Bird satellite data should be acquired (0.6 m resolution) to accurately identify thelocation of all recent and ongoing small scale mining activities.

An effort should be made to improve the understanding of the controls to both shear zone andintrusive hosted mineralization. The recent small scale mining has exposed new outcrop for

both types of mineralization. These exposures provide an excellent opportunity for detailedmapping and further sampling, which data should shed further light on the controls to anddistribution of mineralization.

All present small scale mining workings should be visited and mapped in detail.

Two programs of work are outlined below each of 6 months duration. The proposals are of ageneral nature and will be able to be more precisely defined once the surveying, digitizing,compilation, synthesis and evaluation mentioned above is completed.

The priority target for the next phase of exploration is the porphyry hosted mineralization inthe central and southern part of the Antino Project area.

One-meter auger sampling has indicated low grade soil anomalies in excess of 0.05 and 0.1 g/tAu on the northeastern and southern margins of the tonalite intrusive in the Maripasula CreekTarget Area and associated with intrusives in the Lower Antino Target Area. To fully evaluatethe significance of these gold anomalies it is recommended that infill and step-out one-meterauger sampling be undertaken to verify continuity and grade.

The cost of these activities which should be carried out in the first six months of exploration isdefined below in Table 5.


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Table 5. Proposed Program and Budget for First Six Month Period of Exploration

Activity Comments US$

DataCompilationand Synthesis

Senior geologist, geologicaltechnician or secretary, 2months

$50,000

Surveying Establishing UTM control $20,000Remapping Mapping new exposures,

geologist & technician, 1 month$30,000

Geochemistry Infill auger sampling, 1 m $200,000

Subtotal $300,000

ParamariboOffice

Logistics, administration, fieldsupport

$30,000

Contingency 10% of total project costs $33,000

Total $363,000Contingent upon the results of the first six month program a second six month program of

exploration is proposed with costs defined in Table 6.

The results of the geochemical sampling undertaken in the first six month program should befollowed up by going straight to drilling using a man portable core drill or a small RC drill likethe Scout. Core drilling is preferable but a combination of RC and core holes may also beundertaken. Trenching is not recommended since it is slow, creates a lot of disturbance andflags zones of interest to small scale miners.

Table 6. Proposed Program and Budget for the Second Six Month Period of Exploration

Activity Comments US$

Core Drilling First phase drill testing targetsfrom auger sampling andmapping, 3000 meter program

$800,000

ParamariboOffice

Logistics, administration, fieldsupport

$80,000

Contingency 10% of total project costs $88,000

Total $968,000


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21.0 References

Aerodat Inc. 1995, Report on a fixed wing high sensitivity magnetic and radiometric surveyLawa area Suriname for Golden Star Resources Ltd. (Suriname Division)

Anon, 1977, Geological Map of Suriname, 1:500,000 scale. Geological and Mining Survey ofSuriname

Bardoux, Marc, 1996, preliminary Evaluation of the Antino prospect, East Central Suriname.Confidential report prepared for Golden Star Resources Ltd., December 22, 1996, 4 p.

Belther, Jones, 1997, Report on the Fourth Year Reconnaissance and Exploration Program,January - December 1996, The Antino Exploration Concession, Suriname. Confidential Reportprepared by Golden Star Resources Ltd to the Geological and Mining Survey of Surinam, 15 p.

Belther, Jones, 1997, Antino Project Monthly Report, June 1997. Confidential internal report

for Golden Star Resources, July 8, 1997, 8 p.

Belther, Jones, 1997, Antino Project Monthly Reports, January to May 1997. Confidentialinternal reports for Golden Star Resources,

Badham, J.P.N., 1997, Report on a Field Visit and Data Review, Lower and Upper AntinoGold Prospects, Surinam. Confidential report prepared for Golden Star Resources Ltd.,February 1997, 23 p.

De Vletter, Robert D., (ed), 1984, Contributions to the Geology of Suriname 8, SurinameMinistry of Natural Resources and Energy, 134 p.

Gibbs, A.K., 1980, Geology of the Barama-Mazaruni Supergroup of Guyana. Ph. D. Thesis,Harvard Univ., Cambridge, MA, 385 p.

Gibbs, A.K. & C. N. Barron, 1993, The Geology of the Guiana Shield, Oxford UniversityPress, NY, Collins, First Edition, 246 p.

Miedema, S.K., 1993, The Benzdorp Lawa Gold Project. Confidential report prepared forGolden Star Resources, 11 p

Miedema, S.K., 1994, Monthly Progress Report on the Lawa-Benzdorp Project. February 1994,

3 march 1994. Confidential report prepared for Golden Star Resources, 8 p.

Miedema, S.K., 1995, Annual Report Concerning Exploration Activities work done, 17 Aug1994 to 16 Aug 1995, NANA Resources N.V. Confidential internal report on behalf of NANAResources to the Geological and Mining Survey of Surinam (Original Report in Dutch), 12 p.


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Miedema, S.K., 1996, Quarterly Progress Report on Exploration Activities, 5 Aug 1996 to 4Nov 1996. Confidential Report for NANA Resources N.V., Antino Right of Exploration GMD398/95. Nov 5, 1996, 51 p.

Miedema, S.K., 1997, Annual Progress Report on Exploration Activities, 5 Aug 1996 to 4 Aug1997, Confidential internal report for NANA Resources N.V. and Golden Star Resources Ltd.

to the Geological and Mining Survey of Surinam (Original Report in Dutch), 19 p.

Miedema, S.K., 2004, Preliminary Appraisal of the Upper Antino Gold Deposit. ConfidentialInternal Report for NANA Resources N.V., 28 p.

Paterson, Grant & Watson Ltd.,1996, Report on Interpretation of Airborne Geophysical data,Lawa Property, Suriname for Golden Star Resources Limited

Schaaf, Mark J., 1997, Antino Saprolite Reserve Estimate. Confidential Internal memoprepared for Golden Star Resources Ltd. Feb 26, 1997, 5 p.

Touborg, Jens, 1993, Benzdorp Project, Golden Star Resources. Confidential Memo to GoldenStar Resources Ltd, 5 p.

Wasel, S. Mitchel, 1998, MMI Orientation Survey Over Upper Antino Showing, Lawa Suriname, South America. Confidential Internal Report for Golden Star Resources, BHP GSRL Joint Venture.


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Appendix 2

The Assay Office (Suriname) SAMPLE PREPARATION PROCEDURESRock chips, Drill Cuttings and Core Samples

JAW CRUSHERPrimary Crushing Entire to1/4 ~5MM

DISC PULVERIZERSecondary Crushing EntireSample >80% 10Mesh/2MM

HOMOGENIZATIONSPLITTING

Split Cone & Quarter orJones Riffle to 220-300 grams

PULVERIZATIONReduce split >90% -150 MeshRing & Puck Pulverizer

WEIGHINGSample Pulps - Weighing

TO FIRE ASSAYFire Assay 2ATGravimetric or AtomicAbsorption Finish

ADMINISTRATIONREPORTINGInitial QA/QC data accessedby quality manager - samplesfor validation identified &submitted for cross reference -report generation.

SAMPLE INVENTORYSubmittal Form Matched toSamples Received & Dried

TO GEOCHEMICAL LABGeochemical Trace LevelOverlimit and ConcentrateAssaying

LIMS login &

inventory matchedagainst samples

Submittal, inventory& sample preparation checkedfor QA/QC compliance prior to

remote prep dispatch & arrivalat Reno Laboratory

QA/QC determined at150 mesh and checked for

compliance, recorded &

charted

Random Samples re cut and runthru fire assay for Au. QA/QCdetermined at 10 mesh and checkedfor compliance. Forced air and wire

brush clean between all samples.

Tested barren sand isused for cleaning between

each s

antino43 101 technical report final

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