GREY:ARGEF - Post by User
Post by
canada7on Mar 10, 2010 11:59am
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Post# 16865875
Interesting observations
Interesting observationsFrom today's report:
"The La Blache deposit was historically drilled to a depth of 20m and is recognized to be a massive large body close to surface. It is believed going down to 40m could readily double the historic tonnage and provide several decades of open pit mine life. A 13,000 metre drill program began on Friday, February 12, 2010 on the Lac La Blache property and results from the first 1,452m (See March 1, 2010 release "Argex provides drilling update") revealed intersection of up to 161m of massive titaniferous magnetite."
Historical drill -- 20m (may be 25 m or so) of depth;
Current drill -- one hole 161 m core length (what will be the vertical depth? Take a conservative estimate to be 80 m of depth)
That is 4 times of historical depth.
If the above quote of the report is true, one may expect conservatively 2 to 3 times of 78M tons of resources or about 150 M tons to 230 M tons.