RE:Snowfield estimate: now at 0.5 g/t cut - off gradeTake this as anecdotal but back in the day when pretium and seabridge were working together in regard to the mitchel and snowfield deposits I seem to remember that their concept of jointly operating the two mines involved opening up production at snowfield. That was because snowfield possessed a higher grade near surface resource that could help their proposed joint venture pay down the capex costs at a significant rate.
I believe-suspect snowfield has a near surface resource of around 145 million tonnes @ 1.4 or 1.5 grams per tonne gold or thereabouts... There would also have been unattributed copper moly and rhenium credits in this higher grade section of the deposit. At todays gold price such a starter pit for a low grade bulk deposit would be a veritable cash cow for its operators...
In may the company all but said they were cutting exploration spending because of the financial uncertainty in regard to covid. That was then and this is now. gold prices have sky rocketed. They are pursuing the A6 zone with their guns a blazing. They are also targeting a higher grade structure in the east snowfield area... Why not.
One can't help but conclude they are looking to deliniate a high grade zone near the snowfield deposit for the purposes of adding another sweetener to the project. Such a sweetener could open up the project to a joint venture or possible sale. Could that ever incease the valuation of pretium huh?
Perron low keyed pretium's interest in the snowfield project. I suspect he did so because
he was pre-occupied with reducing debt and thereby making pretium financially impervious to the covid threat.
Sailor has pointed out that Pretium appears to have a very good handle on what they are looking for in the south east section of the snowfield deposit.. it appears as if current management has even inherited a drilling plan for this area.
This season they only intend on drilling 1000 meters at snowfield.... I suspect this is being done to confirm and extrapolate their previous results in the area. I suspect it is a prelude to a bigger program there next year. Perron is looking for a result which will justify a boards decison to bein the effort to monetize snowfield. By this time next year even the analysts will understand that the effort to monetize the snowfield deposit has begun...