RE: RE: RE: This Sounds Impressive...Hi, forwardflash,
It's interesting... The Midas mine in Nevada was discovered in an area that had been already drilled by five major companies, and the best values found with all that drilling was an intersection of 7.8 g/t gold. Finally, hole No 8 of the deeper Franco-Nevada drilling program intersected the Discovery Vein at about 500' depth. That intersection was 7.8m of 16.8 g/t Au and 388 g/t Ag and was the first indication of bonanza grades in the district. The principal ore shoot at Midas, the Colorado Grande, was found later.
The 43-101 resource that GSM has at the McLean lode averages 6.5 g/t gold. One hole hit 3.3m of 47 g/t Gold and 78 g/t Silver. We know not only that gold is there, but high-grade stuff, to boot.
Outside the pit, drilling has been scattered, generally shallow, and was all reverse circulation (RC) drilling--exploring for wide-spread, disseminated, open-pittable gold. The area that GSM will hit next (NW of the McLean pit), has never been explored by diamond core drilling--generally, the best way to find veins. And the geobiochemistry work in that area is tantalizing, I agree.