Old Resource and new drilling
The previous Resource estimate only including drilling up to 3rd quarter of 2006. These were 311 holes total with only 287 used for resource. The others were unable to use for various reasons. All these holes used were a maximum depth of 371 meters with an rough average depth of 200 meters.
Since that time Copper Fox has drilled an additional 95 holes with an average depth of roughly 250 meters and a maximum depth of 571 meters. Lots have yielded higher concentrations of metal and open at depth. In addition to the 95 holes, Copper fox has ordered a re-examination of 60 cores which weren't previously tested for Gold content. Also, I'm under the impression Rhenium will be included in the new resource estimate which was 368 PPM of the Moly content.
Given the old resource was 287 drilled holes and the new resource will have the original 287 plus the 95 AND the re-examined gold cores/rhenium inclusion how much do you think the resource will expand? 10% seems very conservative and my calculations are more like 30%. At present time we are valued approx 22% above pre-feasibility levels , which Roulston even hinted at in his release. "The present market value of Copper Fox is pretty aggressive in view of the uncertainty with regard to the project, but still allows for considerable upside potential."
GLTA