Here's an example of a realitic grade... Keep in mind that RCR has the same type of relationship with HBM... jv's etc But the resource estimates that came out on the same day co incidentally have remarably different cutoff grades....$20.00 / tone is silly....for HLO
The cutoff grade for the RCR resource is closer to $200 / tone
Then you throw in the other base metal 100% owned projects and their gold projects and you have a real oportunity to develope a mine.
JMHO
Rockcliff's Rail at 822,000 t of 3.04% Cu indicated
2010-11-04 08:35 ET - News Release
Mr. Ken Lapierre reports
ROCKCLIFF RECEIVES NI 43-101 INDICATED RESOURCE ESTIMATE FOR RAIL - 822,000 TONNES AT 3.04% COPPER, 0.90% ZINC, 9.25G/T SILVER, 0.66G/T GOLD
Rockcliff Resources Inc. has received an independent mineral resource estimate prepared by Sebastien Bernier, PGeo (APGO No. 1847), of SRK Consulting (Canada) Inc., for the Rail deposit in central Manitoba.
The mineral resource statement prepared by SRK for the Rail deposit is detailed in the table.
MINERAL RESOURCES STATEMENT*, RAIL DEPOSIT, MANITOBA
SRK Consulting, Nov. 3, 2010.
Resource category Quantity Grade Contained
(tonnes) Cu (%) Zn (%) Au (g/t) Ag (g/t) Cu (pounds)
Indicated 822,000 3.04 0.90 0.66 9.25 55,090,000
* Reported at a cut-off grade of 2.00 per cent copper. Cut-off grade is based on
copper price of $3 (U.S.) per pound and a metallurgical recovery of 80 per cent,
without considering revenues from other metals. All figures rounded to reflect the
relative accuracy of the estimates. Until an economic evaluation is completed, the
economic cut-off for this deposit is unknown. Based upon current base metal prices, SRK has determined that 2 per cent copper is the minimum acceptable cut-off grade to
report. Mineral resources are not mineral reserves and do not have demonstrated
economic viability.