GREY:MPRXF - Post by User
Post by
threepalmson Jul 26, 2011 11:44am
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Post# 18873682
this morning I have been doing some
this morning I have been doing someadditional DD on North Masden. and here is my take on why the excitement.
1.Laverty Dyke has been drilled to some degree to the full length of some 800Metres.
The mineralization is such that there are wide low grade near surface plunging pipes.
2. The Buffalo extension is similar in structure and some 450 metres long with likely 3 plunging pipes that can be connected and again with grades of 1.5 to 2.5 grams per ton when taken as a whole.
These 2 areas are broad based deseminated deep punging ore bodies with HG kicks and average around 10 metres true width.
#. The 43-101 that will be ready early September should result in a resource estimate of $1 million ozs plus from 4 of the 7 known zones. The other 3 zones will require more drilling this winter before they can be included into the calculation.
Early fall should see us begin serious talks with the other land holders and an argument can be made for the benefits of all the parties working together at creating a large project and an economically viable open pitable mine.
One should not forget that as this project matures there may be a potential for underground mining at greater depth as well.
This is my read on things and I make no statements of fact here other than this is my opinion based on my limited knowledge as a retail investor.