RE: Comstock lodeWell, sadone, I think it's one thing to miss finding an epithermal vein of the type that exists in Monte Cristo, and another thing to say that the comparison between the Comstock lode and Monte Cristo lode is invalid. I've visited the Monte Cristo property and heard Tony discuss the comparison between it and the Comstock lode.
Tony referred to Don Hudson, who published a highly regarded scientific paper on the Comstock Lode. I believe Mr. Hudson examined McLean core and rocks and wrote several internal reports for GSM, classifying Monte Cristo as an "intermediate sulphidation system". I understand that geologists regard the Comstock as one of the type examples of this category, with similar host rocks, hydrothermal alteration mineral assemblages, gangue and ore minerals and structural regime. The comparison seems clear and valid. I'm not a geologist, but Tony and Don Hudson are.
Just because one doesn't an epithermal vein doesn't mean the gold isn't there. In fact, we know there's gold in Monted Cristo; they've found some already at the McLean lode. GSM is simply looking for more.
Look at the Midas mine in Nevada. There were thirty-seven holes punched into that place before hole number 38 finally hit a vein. That lead to a very successful mine. By the time it's all said and done, Midas may yield six million ounces of low-cost gold.
Or, look at Red Lake. That place had been drilled so much that it was like swiss cheese before Rob McEwan came along. Goldcorp initiated an exploration program while the old mine rolled along as a break-even or money-losing mining operation. During early 1995, while testing Goldcorp's geological theory, diamond drillers cut across a high-grade body of mineralization that was soon to become the fabulous "High-Grade Zone" (HGZ). Diamond drilling continued, and the HGZ initially proved to contain more than 1.96 million tons of high-grade ore containing 4.6 million ounces of gold. That is an average grade of 2.35 troy ounces per ton.
You may disagree that the Comstock and Monte Cristo lodes are similar. I don't. What I like now it is this: Monte Cristo will get $3,000,000 of exploration. All we need is a start and we'll see how big this thing is.
GLTA!