SOUTHWEST & NORTHWEST EXPLORATION PROJECTS BINGHAM CANYON - - PowerPoint PPT Presentation

FRIDAY, MARCH 20, 2009

SOUTHWEST & NORTHWEST EXPLORATION PROJECTS

BINGHAM CANYON MINING DISTRICT

SALT LAKE AND TOOELE COUNTIES, UTAH

SUMMARY

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

1

2006 Aerial Photograph With Southwest & Northwest Properties

GOOGLE EARTH September, 2006 GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

NAD 83 Harn (feet) Utah State Plane (Central)

Grand Central Silver Mines, Inc.

Southwest-Northwest Properties Salt Lake & Tooele Counties, Utah

Salt Lake County Tooele County

2

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

3

Grand Central Silver Mines Southwest Property Summary

Work to date includes: One round of 13 RC drill holes (3268 1.52m samples), 3-D IP survey, 300 rock chip samples (ICP-MS) (two generations), 162 soil samples (partial extraction), 344 underground samples (ICP-MS), and one vertical RC/Core “Copper” test to 830.6m Gold+/-silver mineralization was encountered in all drill holes highlighted by 7.62m of 700ppb Au & 22.6ppm Ag @ 41.15m in hole 3, 7.62m of 633ppb Au @42.67m in hole 7, 6.1m of 2528ppb Au, 7.65ppm Ag, & 0.36% Zn @ 315.47m in hole 8, 3.05m of 1068ppb Au & 189.2ppm Ag @ 193.55m in hole 2, and12.19m of 159ppb Au, 25.0ppm Ag & 0.23% Zn @ 303.28m in hole 13 Two pulses of gold mineralization observed: one with the silver and other base metals, the second with manganese, zinc, and antimony, but without silver Gold+/-silver mineralization principally hosted in Pennsylvanian Bingham Mine Formation calcareous sandstone, quartzite, and limestone (Jordan & Commercial) Mineralization focused in multitude of anastomizing NE-SW trending faults and shears in a dilational dextral shear couple Similar to Barneys Canyon and Melco (1.5M oz combined), the Southwest property lies within the gold-arsenic halo to the Bingham Canyon porphyry Cu-Mo-Au deposit though was never drill tested until 2006 by GCSM. Pre-mining Melco dimensions were ~60m width by 730m length and >300m depth extent and ~1M contained ounces of gold The Southwest property consists of 114 acres (46.2 hectares) patented claims 100% owned by Grand Central Silver Mines, accessed by an excellent county maintained road The second round of surface sampling focused on newly exposed drill sites and road cuts, revealing additional NE trending gold+/-silver mineralized shears containing samples running up to 0.506 opt gold and 252 opt silver Silver is strongly partitioned to the northeast 1/3rd of the property at the surface and relatively absent in the southwest 2/3rd though gold shows no partitioning. However, drill holes in the southern 2/3rd of the property show strongly elevated silver with gold Additional gold+/-silver targets have not been tested and upside potential to identify an economic deposit is excellent Interpretation of the 3-D IP indicates weak chargeability anomalies have not been tested Potential synergy between a gold-silver discovery at either the Southwest and/or Northwest properties and Kennecott Utah Copper’s Barneys Canyon heap leach operation

2007 PHOTO LOOKING NORTHEAST FROM GRAND CENTRAL SOUTHWEST PROPERTY INTO THE BINGHAM CANYON MINE, UTAH

4

NORTHWEST PROPERTY NORTHWEST PROPERTY

LOOKING NORTH FROM SOUTHWEST PROPERTY TOWARDS NORTHWEST PROPERTY SEPTEMBER 2008

5

GRAND CENTRAL REVERSE CIRCULATION DRILL RIG - LOOKING SOUTH DRILL HOLE SW-08-01 SEPTEMBER 2008

6

DRILL HOLE DRILL HOLE 08-01 DRILL PADS AND DRILL ROADS

LEGEND

Grand Central Silver Mines, Inc. Southwest Project Salt Lake & Tooele Counties, Utah

NAD 83 Harn (feet) Utah State Plane (Central)

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Drill Site Layout On Topography

7

UTAH METALS TUNNEL

C

• u

n t y M a i n t a i n e d R

• a

d 4 5

Salt Lake County Tooele County

JEEP TRAIL ON RIDGE LINE

C

• u

n t y M a i n t a i n e d R

• a

d 9A 11A 12A 10A 8A 7A 6A SW-08-01 5A 13A 3 2 1 C

• u

n t y M a i n t a i n e d R

• a

d

SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007

West Mtn Middle Canyon Fork Clipper Peak

0 1000 FT 2000 FT 3000 FT 4000 FT

Approximate Projection

• f Gold at surface

Copper at surface Induced polarization anomaly

9000 L ELEVATION FT 8000 L 7000 L 6000 L 5000 L 4000 L 3000 L 2000 L 1000 L 0 L

• 15000 E
• 10000 E

0 E

A-Bed Skarn host 0.7% Cu shell Bingham Pit Butterfield Canyon

• 5000 E

Grand Central Silver Mines, Inc.

INDUCED POLARIZATION Cross Section Looking West

Kennecott Utah Copper options

• Underground and/or open pit pushbacks
• Could extend life of operation to 2036
• Significant molybdenum potential at depth

(3280 ft)

1 km

Grand Central Silver Mines Southw est Property Outline

9068 el 9070 el 8500 el 9207 el

8

SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Grand Central Silver Mines, Inc.

Southwest Property GOLD AT SURFACE BINGHAM ORBIT PROJECTION APPROXIMATE PROJECTION OF GOLD AT SURFACE

NORTH

9070 Feet 9070 Feet 9068 Feet 9068 Feet

2007 GOOGLE EARTH PRO

0’ 1500’ 3000’

UTAH METALS TUNNEL MIDDLE CANYON BUTTERFIELD CANYON

CLIPPER PEAK

WEST MOUNTAIN WEST MOUNTAIN

9207 Feet

SOUTHWEST PROPERTY

B I N G H A M O R B I T P R O J E C T I O N

MIDDLE CANYON FORK

8500 Feet 8500 Feet

2280 ft 3229 ft 3090 ft 6772 ft 559 ft 3957 ft 3892 ft BINGHAM CANYON MINE BINGHAM CANYON MINE OVERBURDEN ORE 487 ft 6380 ft HIGHLAND BOY PUSHBACK (not to scale) Salt Lake County Tooele County

9

SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007 2007 GOOGLE EARTH PRO

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Grand Central Silver Mines, Inc.

Southwest Property COPPER AT SURFACE BINGHAM ORBIT PROJECTION

APPROXIMATE PROJECTION OF COPPER AT SURFACE

9070 Feet 9070 Feet

NORTH 0’ 1500’ 3000’

9068 Feet 9068 Feet

UTAH METALS TUNNEL MIDDLE CANYON BUTTERFIELD CANYON

CLIPPER PEAK

WEST MOUNTAIN WEST MOUNTAIN

9207 Feet

SOUTHWEST PROPERTY MIDDLE CANYON FORK

BINGHAM CANYON MINE BINGHAM CANYON MINE

F B L K N E A G M C H J D I

B I N G H A M O R B I T P R O J E C T I O N

8500 Feet 8500 Feet

Access Road - Pre-existing Existing Permit Boundary Completed Drill Site - High Priority Drill Hole in Progress Proposed Drill Site - Secondary (D-N) Improved Roads Access Roads, pre-existing Improved Roads, Low Priority KENNECOTT CORE DRILL PLAN MAY, 2008

10

SOUTHWEST PROPERTY

SOURCE: RIO TINTO INVESTOR SEMINAR NOVEMBER 26, 2007

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Grand Central Silver Mines, Inc.

Southwest Property INDUCED POLARIZATION ANOMALY BINGHAM ORBIT PROJECTION APPROXIMATE PROJECTION OF INDUCED POLARIZATION ANOMALY

9070 Feet 9070 Feet

NORTH 0’ 1500’ 3000’ BINGHAM CANYON MINE BINGHAM CANYON MINE

UTAH METALS TUNNEL MIDDLE CANYON BUTTERFIELD CANYON

CLIPPER PEAK

9207 Feet

FORK

2007 GOOGLE EARTH PRO

8500 Feet

MIDDLE CANYON

F K A G M C H J

B I N G H A M O R B I T P R O J E C T I O N

9068 Feet 9068 Feet

WEST MOUNTAIN WEST MOUNTAIN

B L N E D I

8500 Feet

Access Road - Pre-existing Existing Permit Boundary Completed Drill Site - High Priority Drill Hole in Progress Proposed Drill Site - Secondary (D-N) Improved Roads Access Roads, pre-existing Improved Roads, Low Priority KENNECOTT CORE DRILL PLAN MAY, 2008

11

Feet

Soil Anomoly Mine Dump Qal - Quarternary Alluvium TI - Porphyry Pobc - Oquirrh Group, Commercial & Jordan limestone Pobc - Oquirrh Group, Bingham Mine Fm, Cliipper Peak Member, quartzite, limestone, and calcareous sandstone Pobp - Oquirrh Group, Butterfield Peaks Fm, limestone, quartzite, calcareous quartzite, calcareous sandstone

UTAH METALS TUNNEL

8800 9070

1000’ 1000’ 2000’

contour intervals = 40’

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Grand Central Silver Mines, Inc.

GEOLOGIC MAP OF THE SOUTHWEST PROPERTY

Compiled from Tooker and Roberts, USGS, 1988, 1998

NORTH

SOUTHWEST PROPERTY SOUTHWEST PROPERTY

F B L K N E

Patented Claims Utah Metals Tunnel Dump Outline (1-2002) Pit Outline (1-2002) Anticline Fault Projection Faults Normal N Faults Normal S Faults Overturned Anticline Overturned Syncline Syncline Thrust Faults Major Fault (Downthrown Side Shown) Strike and Dip 25

Access Road - Pre-existing Existing Permit Boundary Completed Drill Site - High Priority Drill Hole in Progress Proposed Drill Site - Secondary (D-N) Improved Roads Access Roads, pre-existing Improved Roads, Low Priority

KENNECOTT CORE DRILL PLAN MAY, 2008

12

LEGEND

Grand Central Silver Mines, Inc.

NORTHWEST PROPERTY

Tooele & Salt Lake Counties, Utah 1997 ORTHO PHOTOGRAPHY

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

NORTH

13

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

Grand Central Silver Mines, Inc.

KENNECOTT BINGHAM CANYON MINE EXISTING MINE PERMIT BOUNDARY NORTHWEST PROPERTY NORTHWEST PROPERTY

MELCO (Au) MELCO (Au) BARNEY’S CANYON (Au) BARNEY’S CANYON (Au)

NORTHWEST LEASES NORTHWEST LEASES SOUTHWEST PROPERTY SOUTHWEST PROPERTY

14

GRAND CENTRAL SILVER MINES, INC.

2340 TRINITY MILLS, SUITE 300 CARROLLTON, TEXAS 75006

15

Grand Central Silver Mines Northwest Property Summary

Twenty-two (22) surface samples collected to date. Average gold value from the 22 samples is 0.077opt (2627ppb) with a high of 0.217opt (7420). The average silver value is 2.73 opt with a high of 13.0 opt. Samples were collected from prospects and outcrops. Gold-silver bearing samples were collected over a length of ~600m, collected from silicified and brecciated quartzite and calcareous sandstone of the Pennsylvanian Clipper Peak Formation. The west-northwest trending asymmetric Bingham Syncline transects the center of the property. The property consists 73 acres (29.54 hectares) contiguous patented claims, 100%

• wned by GCSM.

The Nancy Hanks Mine is 100m to the southeast and reported 1.5opt Au and 9% Cu from a 3m wide vein in historic documents dating to 1901. The Colonel Sellers Mine is 120m to the east and reported an average of 1.0 opt gold from a 0.6-1.2m wide vein. The Northwest property occurs within the Au-Ag halo to the Bingham Canyon porphyry copper deposit. No modern day exploration (drilling, geophysics) has been conducted on the Northwest property.