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GoldON Resources Ltd V.GLD

Alternate Symbol(s):  NCMBF

GoldON Resources Ltd. is a Canada-based mineral exploration company, which is focused on discovery-stage properties. The Company is in the business of exploring its mineral exploration assets. Its projects include West Madsen, Slate Falls, Pipestone Bay, Pakwash North, McInnes Lake, McDonough and Hagarty Creek. The Pipestone Bay Property is located within the Red Lake Greenstone Belt (RLGB) approximately 32 kilometers (km) west of the town of Red Lake, the 1,015-hectare Pipestone Bay Property lies in an area of numerous significant gold occurrences, including two past producers and four developed prospects. The Hagarty Creek property comprises 17 mining claims covering 7,731 hectares. The property is approximately 46 kilometers (km) southeast of the town of Longlac in the municipality of Greenstone, Ontario. The McInnes Lake Property is located over 115 kilometers (km) north of the town of Red Lake. The West Madsen Property is located in the heart of the Red Lake Gold Camp.


TSXV:GLD - Post by User

Bullboard Posts
Comment by beachmanon Jan 12, 2011 3:49pm
323 Views
Post# 17961733

RE: Under pressure...

RE: Under pressure...

If my memory serves me correct OSK drilled off a deposit with entirely different geometry than Cote Lake.  The initial inferred resource at Malartic,  relelased back in 2006, was based on a deposit of 1470 metres in length (east-west), 460 to 850 metres in width, to a maximum vertical depth of 620 metres. Approximately 88% of the envelope was above the 350 metre level.

 

The question is not whether or not there will be a mine, the question is how many minable ounces there are.  On some cross sections the width of Cote Lake mineralization looks to be in the neighbourhood of 100m (true width).   The narrow widths constrains the economics of an open pit deposit with respect to depth.  Right now TRR is talking about the max. depth of an open pit being 350m.   There is uncertainty with TRR IMHO because of this geometry issue.  The global geological inferred resource at Cote Lake could well be over 5 milion ounces but only 3.5 million may be all that makes it into the inferred category based on a NI 43-101 study. 

Bullboard Posts