RE; NI 43-101 BLINDSIDED- Re; e-mail issued to Gary Woods ( post # 29717250 ) 5/14/2011
- Gary away on business, however here is what Greg Lytle had to say regarding Dec 16 2010 Leprechaun deposit 43-101 resource estimate !
- "
As for the specific differences between the two estimates: the 2005 resource estimate was based on 26 widely spaced drill holes (drilled 50m and 100m apart) that resulted in an Inferred Resource of 359,000 ounces of gold at the cut grade; the 2010 resource estimate was based on an additional 92 holes closely spaced (drilled 12.5m and 25m apart) that resulted in a Measured (M) Resource of 187,000 ounces of gold and an Indicated (I) Resource of 90,000 ounces of gold for a combined M & I Resource of 277,000 ounces of gold, and an Inferred Resource of 285,000 ounces of gold. "
- So basically this is what happened;
- 2005 resource estimate = 359,000 oz inferred ( lowest tier ranking )
- 2010 resource estimate = 562,000 oz , or a 56 % increased; compiled of 187,000 oz measured ( highest tier ranking ) + 90,000 oz indicated ( mid tier ranking ) + 285,000 oz inferred ( lowest tier ranking ).
- Definitely an improvement; however I think we were all hoping for more !
- cheers, u4eah
- PS. For detailed resource calculation info go to; https://www.cim.org/UserFiles/File/CIM_DEFINITON_STANDARDS_Nov_2010.pdf