Upside could be huge !! THE LONGWAVE ECONOMIC AND FINANCIAL CYCLE
IAN’S INVESTMENTMENT INSIGHTS
Barkerville Gold
In late September I received a report written by Stewart Jackson, a PHD Geologist and a principal in his firm, Stewart Jackson and Associates Geological Consultants.
Stewart visited the Barkerville property at the same time that I did in late August 2012. At that time he met Peter George, the accredited and independent geologist, responsible for producing the NI 43-101 report detailing Barkerville’s extensive gold deposit. As you know, that report was cited by Robert Holland, the Chief Mining Advisor to the BCSC, because “It (Barkerville) did not file a technical report in the required form supporting its disclosure of a material change to its mineral resources.” Accordingly, the BCSC slapped a ‘cease trade order’ on Barkerville which has been in effect since August 15, 2012. I realize that you already know my ‘take’ on the BCSC’s cease trade order so I won’t go into the details, suffice to say that I suspect the Commission is acting well beyond its mandate. While I cannot delve into the details of Mr. Jackson’s report, I will quote two paragraphs which effectively endorse Mr. George’s NI 43-101 Barkerville resource report “The Peter T. George Report on the Mineral Resources and Potential of the Cariboo Gold Project of Barkerville Gold Mines Ltd. is a logical and complete report on the project.” Furthermore, “Personal observation of the nature of the geology of the data on the distribution of gold support the interpretations of Peter George that this mineral belt is an analog of the bulk mining operations experienced in the Pamour and Dome Mine pits in the Timmins-South Porcupine area of Ontario, Canada and the Kalgoolie superpit of Western Australia. Similar targets are being explored today in the Rainy River/Atikokan/Shebandowan areas of Ontario.” Incidentally, Mr. Jackson writes, “When the entire Barkerville Gold Mines land holding is considered, the exploration potential could be much larger, possibly 2 - 2.5 times greater than the 40 - 90 million ounce exploration potential suggested by Peter George.” That suggests that the potential could range as large as 80/100 - 180/225 million ounces. Let’s put that into perspective for you. The top 5 Producing Mines by Global In-Situ Resources are:
DEPOSIT NAME
TONNES (mt)
GRADE (gms)
CONTAINED OUNCES
LOCATION
OWNERSHIP
Grasberg
4,909
0.56 88,106,000
Indonesia
Freeport-McMoRan
Lihir
830
2.10 56,000,000 Papua New Guinea
Newcrest
Muruntau
625
2.49 50,000,000 Uzbekistan
Govt. of Uzbekistan
Mponeng
122
12.60 49,550,000 South Africa AngloGold Ashanti
Olimpiada
459
3.22 47,500,000
Russia
Polyus Gold
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