RE: Stretching the Ounces... Just to add to my previous post.
Using a cut-off grade of .50 g/t:
26 Million Tonnes @ .96 g/t for 810,000 Ounces...Indicated
154 Million Tonnes @ 1.06 g/t for 5,260,000 Ounces...Inferred
Total: 180 Million Tonnes @ 1.00 g/t for 6,000,000 Ounces.
Inferred Resources are those that are found in the 25 metre X 100 metre block spacing.
Indicated Resources are those that are found in the 25 metre X 50 metre block spacing.
Measured Resources are those that are found in the 25 metre X 25 metre block spacing.
In otherwords in the Initial NI 43-101 Resource Estimate the Sections were drilled 100 metres apart...Inferred Resources. The Indicated Resources in the Updated NI 43-101 Resource Estimate were located in the same Sections but were drilled 50 metres apart. In order to move the Resources to Measured all the holes drilled must be 25 metres apart.
They will most definitely move the Resources to Measured Resources (25 m X 25m) by extensive drilling over the next 12 to 18 months which will give them ample opportunity to increase the grade significantly.
I believe once they have the Cote Lake Resources in the Measured and Indicated Categories in should lead to the next phase and will not require further infill drilling...Porphyry-Type Mineralization.
The tighter drilling is a measure of confidence that will establish as close as possible the actual factual resources at Cote Lake and de-risk the project accordingly. The market must see this before Cote Lake gets true value...price it accordingly.
Long way to go yet...do not go anywhere!
The biggest concern right now is for gold to hold...the rest is business as usual for the Trelawney Team!
Digger144
P.S. This latest update does not close the book on this story...we truly have a long way to go and I am certainly very much looking forward to it!