Comments, up-coming Report,,,,,,,,, All hail! Grade is King again for junior gold stocks
A number of gold juniors look to make their projects more palatable - and generate far quicker payback for investors - by decreasing their scope and/or focusing on higher grades.
https://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=152553&sn=Detail&pid=102055
Cream Minerals pursued the above, at the end of 2008, when they released the Revised NI 43-101.
Excerpts from February 2006 NI 43-101 and Revised December 2008 NI 43-101, shown below, accomplished the following:
1 – Reduced Tonnes by approx. 72%
2 – Increased cut-off grade by approx. 100%
The above, 1 and 2, resulted in:
Reduced Au oz by approx 28%
Reduced Ag oz by approx 21%
The purpose and reason for Revised NI 43-101 was to reduce start-up costs and accelerate pay-back.
Inferred Mineral Resources NI 43-101 (February 2006 and January 2008)
Tonnes: 17,920,000
Cut-off grade was estimated to be 60 g/t silver to 70 g/t silver
Au oz: 375,000
Ag oz: 52,212,000
Silver Equiv (Gold -- Silver price Ratio = 50:1): 71,000,000 oz (at 100% recovery)
Revised December 2008 NI 43-101 Compliant Inferred Mineral Resources
Tonnes: 5,088,000
Cut-off grade was estimated to be 120 g/t silver to 150 g/t silver
Au: 271,500 oz
Ag: 41,072,000
Silver Equiv (Gold - Silver price Ratio = 50:1) = 54,647,000 oz (at 100% recovery)
https://www.creamminerals.com/i/pdf/Summary-NI-43-101-Jan-29-2009.pdf
The up-coming NI 43-101 will, according to management’s news releases, raise resource levels of gold and silver from Inferred to Measured & Indicated*. Please note; percentage of increases for gold and silver resources are not known at this time. Additionally, we may expect increases in combined total of resources, (Inferred and Measured & Indicated) due to extensive drilling program and the discoveries of at least 4 new veins - Keep in mind, the discovery of new veins mentioned occurred in 2012.
Now, if we could just get the Report.
*Elevating resources from Inferred to Measured & Indicated results in substantial increase in value.