BULK SAMPLING!!!
Good Morning
Bulk Sampling
I have been waiting for this sort of plan to materialize for over 25 years...Thanks Jonathan Fitzgerald!!!!...finally...to me this is a very key item in the last PR.
If they play their cards right, this work can generate some cash for the company (spend money to make money) and most importantly increase their confidence in the their grade estimates.
if you remember, OX did 2 smallish bulk samples in the past where mill grades were much higher than the individual muck sample grades...details are in the technical report.
This management team know what they are doinging...finally!!
Here are the details of the plan and costs associated. I say WHOOOO HOOO
A two-phase work program having the following core components be carried out to further assess and develop the Goldboro property.
1.A detailed planning study of near-surface bulk sampling opportunities in the Boston Richardson and New Belt stratigraphic sections should be carried out to determine the optimum location to source at least 5,000 tonnes of bulk sample material for metallurgical processing and gold grade reconciliation studies. Several mineralized belts should be separately bulk sampled from either existing underground workings or from new surface excavations. Focus for sourcing bulk sample material should be within accessible Measured category mineral resources of the current block model where possible.
2.Engineering, environmental, geological and government permitting components for the bulk sampling program should be completed.
3.Additional infill core drilling should be carried out at any bulk sample site where additional definition of mineralized zone limits is required. Results will contribute to best-information pre-mining estimates of contained gold grade.
4.Core drilling to upgrade highest priority areas of inferred resources to indicated status and to test for deposit extensions to both east and west of currently defined resources, should be undertaken.
5.A bulk sampling and metallurgical processing program consisting of at least 5,000 tonnes of mineralized material should be carried out to provide assessment of gold grade systematics and processing parameters for the multiple mineralized belts tested by the bulk sampling. Results of this program will contribute to future economic assessment and reserve definition studies.
6.After completion of the above programs, an updated mineral resource estimate and a new Preliminary Economic Assessment study should be prepared.
Recommendations 1 and 2 above comprise the Phase 1 program and have an estimated budget of $275,000. Commitment to Phase 2 (3, 4, 5 & 6 above) would require substantively positive results being returned from Phase 1. The proposed Phase 2 program has an estimated budget of $5,000,000.