back up.... Just got internet and still finishing the unpacking from an international move.
I posted a while ago that a geo friend said that they had 600,000 oz and he was right. Freewest is misleading by quoting a director said 1.5 million oz. I was also told this but it was for zone 55 when they are done with it and right now they aren't done defining it. A big difference....
Although I would have liked to see more oz on the 43-101, its what was expected. Remember this is an initial estimate and the the deposit still remains open at depth and to the west if I remember correctly. There are 2 other zones and many targets to test.
A director told me that if he had to rank zone 55 out of all the original targets it would be ranked 8th or 9th. They stumbled upon it while trying to replicate RVS's results and were moving north. Since it was what the market liked they continued drilling it instead of tesing other targets. Now they are testing these other targets.
Some companies do 43-101s after the deposit is defined and some do it early as an initial and just continue adding to it. It is important for a junior to have a 43-101 as there are many benefits (more credibility, allos certain institutions that require a 43-101 to buy, etc).
There are alteast over 200 holes pending for zones 55, 109, 117 as well as new targets.
Its still the summer doldrums and I expect things to pick up soon. I am glad that the results at the lab are stacking up because great results are being ignored right now but this will change soon.