Some Cliffs notes on the webinar
There were some major developments in this webinar that not everyone may have grasped.
32 minute mark: Cattalani talks about the route of the new decline.
That they will be driving through the zone 2 zone in the next, 3 quarters down to the existing decline. That a new resourse estimate then will be forth coming.
At the 33 minute mark they show the large number of over 10 g/t hits they have found in new infill drilling and also the 100 g/t hits. (this is a must see) ( I had to put my nose up to the screen to see the 3 ounce per ton hits that are labeled) (It’s a great screen shot)
. This is a big deal. People need to realize that the drill core only shows a 3 inch wide (the so called pierce points) sample of what’s there in the lodes and the fractured vein systems that are 5 feet to 15 feet or more wide. The new decline advancing at 2 meters a day will show so much more as they drive the 14 foot square foot decline.
At the 38 minute mark he emphasizes the very high grade that they have found new hits between the known existing lodes so they need to remodel this portion of the ore body.. (this includes the recent hit of 50 ounce/ ton )
At the 42 minute mark he talks about resampling strategic drill core that was never assayed which in some cases which he says “wound up to be multiple ounces, believe it or not”
(last fall when I spoke with Berukoff he was excited about this, and only now I realize what he was talking about.)
Cattalani goes on to say that that’s how ‘subtle’ some of this mineralization is and why it was overlooked in the first place. (He seemed to be saying that so far they have assayed only the unsampled old core in areas that are relevant right now in zone 2.) Parts of this previously unsampled core was between known high grade hits. (gotta like subtle)
(from the January 25th news releaseJ
Drill Hole From (m) To (m) Interval (m) Au (g/t)
TUDDH-225 (resampled) 52.7 53.7 1.0 9.62
including 52.7 53.4 0.7 14.1
TUDDH-408 (resampled) 83.7 85.7 2 6.12
including 83.7 84.3 0.6 14.2
At the 43 minute mark he talks about the coming 8,000 meter drilling in the zone 5 area with 2 underground rigs and 2 above ground to reexamine the top 200 meters and then they will be able to remodel the entire upper areas for production.
At the 46 minute mark he talks about the 500 zone and of the many ‘pierce points’ that show the tremendous hits and promise down deep, (pierce means only less than 3 inch samples) and the hundreds of meters gap between where they’ve hit high grade and the lowest hit to date. “That we could be looking at a 150 meter wide shoot that has over 24 g/ton, which is almost 3 times the average g/t of the rest of the deposit.” “ so we may have 200,000oz more in this area but also another 250 meters below which needs to be drilled”
At the 59 minute mark he suggests that the other areas at Tuvatu which haven’t been tested deep may have there own feeder zones.
At the end of the program they took my question about the 3 km HT corridor which seemed to me was kind of bobbled.
Cattalani comes across as a smart and sharp professional, so I can give him that, even though the H and the T (Tuvatu ) lodes are my favorites. ;-) Too many targets. (maybe they can put a 7th drill to follow those previous great results along th HT
.
For many reasons it will be a very exciting year coming up. With the ongoing drill program and the new decline proceeding at 2 meters per day, It’s going to be a very interesting and exciting year IMHO.
Can’t wait. !!