can't wait for PEA: looking forward to September food for thought 7.1M indicated ounces @ Blackwater x POG @ $1691.60 = $12B dollars
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GLTA
As this latest resource estimate provides New Gold with additional information regarding the continuously evolving Blackwater mineral resource, the company plans to use this July resource estimate, rather than the March, 2012, estimate, as the basis for its preliminary economic assessment. The PEA is targeted for completion in September, 2012.
Blackwater
updated National Instrument 43-101 compliant mineral resource estimate subsequent to end of quarter, which includes: Indicated gold resource: 230 million tonnes at an average grade of 0.96 grams per tonne containing 7.1 million ounces of gold at a 0.40 gold-equivalent gram per tonne cut-off grade and the Inferred gold resource: 98 million tonnes at an average grade of 0.77 grams per tonne containing 2.5 million ounces of gold at a 0.40 gold-equivalent gram per tonne cut-off grade
The resource estimate now includes all drilling through May 14, 2012, adding 151 holes totalling 57,064 metres since the March, 2012, estimate. In total, the current Blackwater mineral resource estimate is supported by analytical data received from 417 holes totalling 147,619 metres. An additional 32 holes supplied geologic information, but assays had not been received by the cut-off date for this July resource estimate.