RE:38.5 million ounces?
AUSTIN48 wrote: Not sure if it is common practise for Quinton to pre estimate a resource after just 5 or 6 hole's and next to no asaay results but i like it.
I guess time will tell but i am not selling any shares.
These type of gold deposits are well understood by geologists and are common in the Yukon. They can learn a lot from just a few holes because they usually have evenly distributed gold throughout the intrusion so expect more of the same. As Quinton Hennigh pointed out this is a very large robust gold system that will deliver some very impressive numbers.
Not only is it large but the high grade near surface core will greatly improve the economics of this deposit. They most likely will prove up 10 million ounces of 2 g/t or better which is very impressive. Early drill results indicate SGD has the largest gold discovery in Yukon's history. Some investors are content with a double or triple but this one could easily end up being well north of $10 because if the property hosts tens of millions of ounces of gold it will be a sought after asset by gold majors given the favourable metallurgy of these gold deposits. And all of this is only based on the Valley target. Just imagine what will happen if they intersect the hidden intrusion at Gracie 4 or 5 km to the east. Huge blue sky potential with SGD.
As far as NFG is concerned all I can say is the story is still unfolding with that one. It's a totally different gold system that will take much longer to prove up big numbers but I still think it will have a favourable outcome for longer term shareholders. The Queensway property is very rich with extremely high grade gold. The share price is down right now but so are most gold stocks. Good time to buy both SGD and NFG if you believe in gold as a store of value in uncertain times.