RE: More VL assays...27 m of 6.5 gms/ton..WowOne needs to examine the drill location map to fully appreciate the significance of yet another bunch of strong assay results..
Key deposit observations...
......................Mineralization in hole VL-10-225 correlates with deeper mineralization from VL-10-165, which returned 38.32 grams per tonne (1.12 ounces per ton) gold over a true width of nine metres (see news release in Stockwatch dated April 13, 2010). ...Deeper u/g ore is of signifcantly higher grade ( source rocks ? )
................VL-10-225 also provides a true width of mineralization in historical hole VL-05-110, which was drilled down plunge and returned 3.87 grams per tonne gold over a core length of 174 metres (see Valentine Lake National Instrument 43-101 technical report dated March 23, 2009). Very signifcant confirmation of VL-10-165
..........................Hole VL-10-221 provides up-dip continuity of mineralization intersected in VL-10-222. Additional up-dip continuity is established in VL-10-224 from deeper intersections in VL-10-223.
.........................These holes, typically having a minus-80-to-minus-85-degree dip, were drilled along strike and to the west of the initial barge holes but on the mineralized trend. The latest intersections appear to establish good continuity of mineralization up dip, near surface and along strike of earlier drilling.
...............Mineralized lenses encountered both up dip and along strike from the historical resource are very important as they provide a better understanding of the distribution of mineralization and help to build a more comprehensive geological model to be used during the revising of the resource estimate.
In short, infill and extensional drilling continues to confirm the grade and expand the foot-print of the Leprechan deposit while providing a better understanding of the geological model .
This will result in a new resource estimate that will be much larger and better defined in its spatial distribution parameters ( ie, we are going to upgrade a lot of the Inferred into the much higher M & I categories which are assigned much higher unit valuation levels ).