RE: the amount of carats important stepDear Felix 51,
Wow, your English is highly literate! Joke apart,
Felix, you try to pass for an expert and yet it seems that you do not read the press releases, technical reports and financial statements with any great attention to detail.
In your previous post you complained that it would take six months for you to know the potential of EPL 3403 because the Corporation mentioned that they would need to more sampling work before doing a trail mining by the end of 2011, and yet you come back and start talking about the need for them to establish, with the results of the just completed sample program, a quantity of carat per square meters, or in other term to establish a resource !
Did you read the clearly stated goal of the Corporation in their press release ? The goal for the Southern Area was to establish a potential....
How can you even believe that they can established a grade per cubic meters over a so large area with so small number of samples?
They stated that in the North area they were trying to prove presence of diamonds and see where they could be in concentration. This area is about 350 square kilometres or 350,000,000 square metres and they will take about 65 samples of 5 sq.m. each, which represent an area of 325 sq.m.
This represents less then 0.00009 % (325/350,000,000) of the total area.
How can they establish a grade on a so wide spread sample grid ?
Furthermore, on the Southern area, where diamonds presence has been proven by IMDH, they will take a minimum of 185 samples of 5 each, which equals to 925 sq. m. covered by the samples on an area of 23 sq. km. or 23,000,000 sq.m.
This represent a coverage of 0.004% of the total area.(925 / 23,000,000)
Once again, how do you want that they establish a grade per sq.m. with this sampling program?
It is quite clear that you do not understand the industry and that you do not understand the stage of exploration that has been implemented.
The idea behind this program for the Southern area is to find diamonds concentration in some areas and test the continuity of the deposits. Therefore, this is why the company has stated that the number of diamonds is not so important at this stage but that the main goal is to find diamonds grouped together in order to find concentration and find the deposits. Also, they stated that the other main goal is to find diamonds that have a good average size, which could make the project potentially economic.
Why do you think the company stated that the number of stones even if interesting is not a key component of this program?
Because they know that they will not be able to establish clear grades at this stage.
This will come with further sampling but they know that if they find concentration of stones of a decent size, then we are onto something good.
So, my friend, establishing economic grades as you seem to wish is not for this program but for the next sampling. So, it is quite clear that you do not understand the industry and that you don't make the effort to learn about your investment. I hope that the above will help you understanding better.
Of course, we all want to see a lot of diamonds. For my part if they have more than the first program of IMDH (they found 23 diamonds) and that they are concentrated with a good size, I will be very satisfied.