OTCPK:IAUFF - Post by User
Post by
goldpigon Feb 01, 2009 12:51pm
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Post# 15743763
Paulsens Drilling adds good tonnage
Paulsens Drilling adds good tonnageThe Results from the Upper Zone on the main ore body are very encouraging, extending the mineralisation down plunge by an estimated 200 metres.
This compares with the current mine advance of approximately 70 vertical metres per year so the new drilling gives us enough for at least another 2.5 years.
Rough estimates from the map on the web site suggests about 800,000 tons or ore.
Grades are quite high and about three times those that went through the mill in 2008.
Note also that hole 523 intersected 17metres (true width) at 25.5g/t gold within 40 metres of current development - this level will be mined in the second quarter of 2009.
An updated resource for Paulsens will be coming out soon , and we could see an extra 2 or perhaps 3 years added to the mine life and perhaps at grades better than those of 2008. In addition , there are other ore extensions that also look very promising.