Vancouver update Below are the highlights of my conversation with Dr. Robinson this afternoon at the Vancouver Cambridge House conference. I was not taking notes as we spoke so my observations are to the best of my recollection and some details are lacking.
- This week there will be a news release naming the engineering firm who will be auditing the drill results from Eau Claire and producing the new 43-101. The name escapes me although I recall it's something like SSK or SKS engineering, my apologies. As well, it is my understanding they will be advising on future drill targets for E. South, Eau Claire and Eastmain mine properties and are well respected in the industry.
- The data has been provided to the firm and the company and the engineers have been in "the classroom" for the last two weeks going over geology and defining and reviewing drill data and potential new targets on the above mentioned properties.From june 14-18 they will be in the field at Eau Claire for some detailed fieldwork leading up to the new 43-101.
- Once all the fieldwork and preliminary preparation has been completed by the engineers a "memo" will be issued by them to Eastmain announcing the upcoming 43-101,a press release to be issued at this time , hopefully by the end of Q2 in three weeks. From the issue of this "memo" the engineering firm is legally bound to produce an updated 43-101 within 45 calendar days.
- The 43-101 will upgrade the OZ's per ton as well as moving considerable OZ's into the measured category and as well as increasing the indicated totals. As well, it has been established that TE is present in economic recoverable grades and will act as an offset to the cost of gold production for any producer that puts this property into production.
- Once the memo is received by Eastmain the company's presentation center in Toronto will be open for business where interested parties can come to do their due diligence. Some new high tech software linking Google Earth and geology software, which Dr. Robinson hopes to also have linked on the ER website, will be showcased allowing anyone to see the definition of the deposit in 3-D in the context of the Google Earth platform, way cool graphics according to the good Dr.
- There are already two producers who are not shareholders who have asked for the details of the drill results and geology of Eau Claire in order to start their due diligence but Dr. Robinson has politely requested they wait until the presentation center opens. Hoping for a bidding war at this point may be premature but this is the best case scenario.
- Of the ten latest holes sent t the lab from the Eastmain mine property one has already been analyzed. press releases will be issued shortly as the bulk of the results are returned.
- Dr. Robinson is doing both a video and audio segment with Al Korelin and Roger Wiegand as well as another analyst new to ER at the Vancouver conference. These segments will air on the Korelin Website sometime in the near future. It is planned to keep the flow of news constant in order to keep the ER story alive during the Summer doldrums, assay results from the Eastmain property and the new 43-101 being paramount.
I was disappointed that the 43-101 would not be ready for release as I had been informed previously but we are now looking at the mid August to Labour day period for this news. I'm hoping that, like VIA before us, someone comes to the table after the presentation center opens this quarter before the new 43-101 sees the light of day.
Again, these are my recollections after the fact without the benefit of notes. As you may have noticed we covered a lot of ground in our conversation and I may have gotten some of the facts confused by the time I've been able to get to the keyboard. I'd love to hear comments from any others that attended the ER booth at the show to see if my perceptions meet yours and to correct any possible gaffs I may have made in translation.
Cheers, Blacky