RE: RE: RE: RE: Initial estimate of North Stock PiIt isnt really 60 % useable ore.
Note that the 0.5 gm/ton cut-off removes another 15 % ,so the useable ( economic ore ) is reduced to 50 % which is close to peer average.
Note the superb consistency of the auriferous ore in the intercepts.......eg 315 metres at 1.5 gms and so on, ...which will reduce the dilution factor considerably due to less patchiness in the ore.
I bought my first position here in late 2009 when the stock was below current levels ( about 70 cents ) and was attracted by the extraordinary intercepts along with very strong management team.
Since then , drill results have more than fulfilled my expectations and in total , we could see the final tally at rattlesnake above 5 million oz.
Over the past 1-2 years, I have been fortunate enough to have bought into good gold discoveries that were eventually taken out...CSG, BZO, CPQ, FRG etc.
The key is identifying a very attractive deposit, scoping out its probable productive potential ( 100,000 oz /year gets the attention of mid-tiers and seniors ) and getting aboard early.
Imo, EVG has all of the attributes of a first class gold discovery and has other very prospective gold projects in Nevada that could be spun out to shareholders ( a la FRG ) in any takeover offer.
We all know that senior golds have oodles of cash and that consolidation is occurring in this sector, as seniors struggle to grow their production in a rising POG environment.
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Its a great situation to be into, and EVG offers little downside risks at current levels and perhaps triple upside in 2011.