RE:RE:RE:RE:RE:RE:RE:RE:Interests and conflicts...Correction - the strip ratio (according to your friends at Cormark) is 8.8:1. Here are the highlights of their fall 2015 report on NioGold:
Highlights:
• Wraps Up 70,000 m Drilling Program NioGold has released assays from 25 new holes, all of which are located within the existing modelled pit shell at Marban. Results include multiple intercepts grading well above the resource grade over >20 m widths.
• High Confidence Resource Update Due In Q4/15 The aggressive drill program has returned a high ratio of intervals grading well above the expected resource cut-off grade (>0.50 g/t). We expect a slight reduction in total contained ounces but with an associated increase in confidence level (inferred ounces converted to M&I) and a potential reduction in strip ratio (currently estimated at 8.8:1) as mineralization is intersected in areas previously counted as waste.
• Retain Buy (S) Rating, C$0.90 Target The completion of a summer drill program edges Marban further along the development path and is supplemented by positive metallurgical testing earlier this year. We continue to believe that the asset offers material synergies to the world-class Malartic operation nearby.
In-Fill Program Nears Completion: NioGold has again returned multiple intercepts at well above cut-off grade within the existing modeled pit limits. The average grade-x-thickness (GT) of the 25 holes in the release is >26 gram-meters with multiple individual intervals topping 60 gram-meters at shallow depths. The drilling continues to suggest that NioGold can convert a large portion of the 1.98 MMoz combined resource into a more defendable estimate and potentially reduce the strip ratio (8.8:1) as new intersections were defined in areas previously thought to be barren. Drilling activity is now complete and we expect the final assays to be released as they become available.