RE: RE: Douglas Lake Minerals Inc. Provides UpdateThe inferred resource per JORC is enough to get mining permits submitted and granted in Tanzania. Tanzania does not need 43-101 compliance. Canada does since the CEO resides there. The exploration program has sampled something less than 0.1% of the property so no one should say 21,000 ounces is it. Seasoned geologists have told me the honey zone of alluvial deposits is at bed rock, which the exploration program has not hit yet. We are looking at economic gold in the over-burden and that's real good.
I will take the company to task on the 0.30 g/m^3. First, the reported number was 1 g/m^3 so this reported number is 3 times less. It sounds like someone is quite sloppy in their calculations. The other part to task is from what I observed when there where the locals are getting much higher grades while panning, IMO. At 0.30 gram/m^3, you have to move 104 cubic meters of material to get 1 ounce of gold. Modern machinery can do this with no problem, however, there is no way that the locals were hand digging and panning 166,400 kg (366,700 lbs) to get a single ounce of gold (assuming 1600 kg/m^3 for loose sand). Heck, we grabbed two shovel scoops from the conglomerate layer, panned it out with water and could see at least 10 colors. The experienced geologist RicherNow and I believe that their concentrator is missing a lot of the fines. My sample of Mkuvia gold at my desk shows a distinct size cut-off where I would naturally assume there should be flakes all the way down to barely visible with a 4X magnifier.
In my mind, this release was a requirement by the BCSC and hopefully its release means we are closer to getting that CTO released. The other day I was perusing their site. Since April when Douglas CTO went into effect, it looks like over 60+ companies have had CTO's levied against them. In that time, it looks like only a handful of CTO's have been revoked. It seems to me the BCSC is quick to accuse and slow to rescind.