M&I&I>> anyone care to comment on the resource at segovia? only 77000ish oz left in the indicated... <<
For one thing indicated is not 77k oz, it is 351k oz.
Total M&I is 428k oz.
Inferred is 1.298m oz
There is a lot of inferred, they just need to drill to prove it up.
Their veins are 1km to 2km long. You don't have to drill every hole in between to know the gold is there when the vein is that long and continuous. Segovia has been mining for over 150 years, so the odds are good that production won't suddenly drop off a cliff.
From last Q3 MDA "Some production is sourced from mining areas that are not currently included in the Company’s Mineral Resource Estimate."
The Company operated mining the last few years has been around 4 g/t which is much lower grade than M&I. It sounds like it is development ore not part of M&I.
The 43-101 Technical report says
"Long-Term Mineral Resources (“LTR”), which lies along strike or down dip of the current mining development."
The LTR make up the M&I. It sounds like Company operated has been mining development ore not included in M&I to reach the LTR which is high grade. That was what the last month news release was referring to, reaching the high grade LTR.
In their Jan. 2017 Corporate presentation, it says "Local contract cooperative mining model is successfully leveraging artisanal mining capabilities in high-grade secondary pillar recovery operations"
The 43-101 table says pillars are only in inferred, not in M&I
Both these 2 cases mining is not from M&I so their M&I may not have dropped much.
Break out your own Sherlock Holmes hat and figure out for yourself.
The Corporate presentation says "Currently advancing a project to develop, expand and mechanize underground mining operations. Executing a 10,000 drill program that commenced in May 2016 to upgrade and expand resources."
It sounds like they are expanding not contracting. In the last conference call they said they were planning a larger 20k meter drill program. So no need to jump off a cliff just yet for fear of running out of gold.