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Bullboard - Stock Discussion Forum High River Gold Mines Ltd HRIVF

GREY:HRIVF - Post Discussion

High River Gold Mines Ltd > Nord Gold NR - Reserves/Resource Update
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Post by production05 on Apr 24, 2012 6:06am

Nord Gold NR - Reserves/Resource Update

I have attached a link to the London Stock Exchange link of the full NR (located at the bottom of this page).

Here are a couple of quick (initial) comments of mine with regards to very selective quotes (pertaining to the HRG side) from the NR:

1) ``Bissa: Mineral Resources up 10%.``

The Jan. 31`11 NR had Bissa`s total resource ounces at around 2.86M. With a 10% increase, that would bring the Bissa specific total up to about 3.1 million ounces.

2) ``New resources estimated near the Bissa mine combining five different satellites with total Mineral Resources of approximately 1.7 Moz, including 1.0 Moz of Resources at a grade of 0.77 g/t at Bouly.``

I see this 1.7 million ounces as being incremental to the core (3.1M) Bissa deposit.

As such, I see the total Bissa resource profile as now being 4.8 million ounces (3.1M + 1.7M). As a result, I see the new Bissa operating mine as having a resource base of 4.8M ounces (core + nearby ounces) assuming that all of the new deposits graduate through normal economic deposit studies.

Bouly, part of the 4.8M, went from 253K (Jan. 31`11 NR) to 1.0 million on this NR).

3) ``Some of the 2011 drilling results at Taparko will be available shortly, and a reserve update is expected in Q3 2012``

4) ``Key exploration priorities in 2012 - 2013 will include:``

``o Continued life of mine extension at Buryatzoloto, Taparko and Neryungri;

oInitiation of drilling programme at Berezitovy, conversion of a significant Mineral Resource at Suzdal;

o Further Resource definition at Bouly and Uryakh;

o Bissa satellite drilling

o Continuation of Gross Resource conversion; and

o Regional exploration in Russia and Burkina Faso``

https://www.londonstockexchange.com/exchange/news/dow-jones/news-detail.html?newsId=20120424SN001901

It should be interesting to see if they finally issue a specific HRG news release today, given the material nature of the HRG info included in the Nord Gold / LSE release. I hope the Canadian regulators will be monitoring the situation.

It looks like JORC (I think Australian-Asian standard) and CIM (Canadian, 43-101) was used. I didn`t look at the fine print or support links to see the details. I would hope that the HRG properties were done in 43-101 and the non-HRG properties were in JORC.

I hope they didn`t exclude a HRG property from CIM and then use that as an excuse for not publishing HRG resource update to the HRG/TSX/North American market.

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