Big Impact from Increased Head GradeThe Perseverance find provides exactly the kind of high grade input that the Dec 2005 experts' report on open pit mining and milling costs [available at Sedar] said would be very helful, as follows:
"The profitability of the project has a whole would be positively impacted by the addition of relatively small quantities of high grade open pit or underground ore that might result from exploration success. An additional project with an average production rate of 50,000 tons per quarter at a grade of 7g/t is required if the production target of 100Koz /annum is to be achieved"
Gold veins from Perseverance of 26g/t certainly high grades the whole process and would move the Redemption JV to the 140,000 oz/annum capacity of the mill at much greater profitability than originally projected.