Some reflections, -
Just released results are tracking quite well with expectations; extending the strike length of four zones of gold mineralization at Uzboy by 50 to 160 meters (each); with mineralization in all of these zones (located on the southwest flanks of the West and East Uzboy gold deposits) still open along strike and down dip, - evidencing further potential to expand mineralization (while possibly intersecting higher grade gold mineralization); and, highly germane, gold mineralization at East Uzboy continues in the direction of the West Uzboy deposit, raising the conjecture that this may be “a single large gold system”.
At West Uzboy, hole P 3321 (drilled at the southernmost end) returned significant mineralized intercepts of 9 meters @ 3.36 g/t Au (from 218.2 meters) and 28.1 meters @ 0.96 g/t Au (from 250.6 meters, including 10.0 meters @ 1.67 g/t Au from 250.6 meters); with this hole extending the southern mineralized zone by more than 50 meters along the dip; and, this ‘same zone’ was also intersected at shallow depth by hole C 3319, which returned two mineralized intervals, including 4.0 meters @ 3.66 g/t Au, - collectively confirming the extension of the southern zone (only minimally explored in the past). Going forward, as an exploration target, the southern end of this zone (containing significant width and grades of gold mineralization) is open at both ends and at depth.
Also at West Uzboy, diamond drill hole C1101 intersected 1.26 g/t Au over a core interval of 6.0 meters (starting at a core depth of 24.2 meters), extending this zone of gold mineralization 160 meters to the NE (where it had previously been intersected by another core hole), with mineralization in this zone remaining open at depth; and, to the NE, this zone’s mineralization is narrower and contains higher grades at depth.
Meanwhile, at the southern end of East Uzboy, encouraging results came from the central area residing between the two current East Uzboy open pits (not previously explored at depth), where two parallel mineralized zones were established; one intersected by hole C 4203 (20.2 meters @ 1.09 g/t Au) and a second intersected by hole C 3404 (9.0 meters @ 1.39 g/t Au), with both (of these zones) of gold mineralization extended by a very healthy 100 to 120 meters. The second zone was also intersected (further to the NE) by hole P 5831 which intersected the mineralized interval at the depth of 189 meters and assayed 11.0 meters @ 2.21 g/t Au; increasing this zone’s strike length by more than 50 meters along the dip. And, yes, with these mineralized zones being ‘extended’ in this fashion, it increases the probability for transforming the two current East Uzboy open pits into a single much larger pit; no small thing; enabling operations to be far more economical.
To the west of the East Uzboy open pits, an extension of existing mineralized zones were established (by holes C 0401 and C 0101); with these holes intersecting 12.9 meters @ 2.58 g/t Au and 5.0 meters @ 1.04 g/t Au respectively, thus increasing the strike length of these zones by at least 50 meters; and (to top it off), the gold mineralization is open to the SW, trending in the direction of the current West Uzboy open pit.
Clearly, during the past year and a half, very meaningful progress has been made (at both West and East deposits) in extending multiple zones in such a way as to consequentially boost reserves/resources. All in all (since December 31, 2007), Alhambra’s exploration program has identified many new zones of gold mineralization and the totality of this robust activity will be taken into account when calculating National Instrument ("NI") 43-101 compliant resources and reserves, - serving as the basis for an updated Economic Assessment (Scoping Study) on the Uzboy gold deposit, - with this ‘Study’ also benefiting from incorporation of hefty gold prices into the NPV.
Recall that during 2008, diamond drilling results at the West deposit were very successful (in intersecting significant gold mineralization); and a big surprise was yielded by the East zone where DDH 143 intersected a thick interval of gold mineralization containing numerous higher-grade intervals of gold mineralization (atypical for the East zone); and, later in the year, more diamond drilling on the East zone confirmed the continuity of the gold mineralization along strike and down dip (in the southwest portion of the East zone), including several holes intersecting multiple intervals (not previously characteristic of East zone mineralization); with DDH 184 intersecting six intervals harboring a cumulative 54 meters of gold mineralization.
Now for the future: drilling activity just completed in July is opening a window onto an entirely ‘new’ step out area, for, on the pure ‘exploration front’, 5 deep holes at West Uzboy totaling 2,838.2 meters (yet to be assayed, ranging in depth from 520.2 meters to 700 meters, and averaging 1,862 feet each) targeted the down dip extension of sulphide gold mineralization intersected by previous drilling programs. Testing the steep plunge of the gold mineralization, visual inspection and logging of these holes already confirms the continuation to depth of previously established zones (of hydrothermal alterations, quartz veining and pyrite impregnation), setting the stage for very significantly extending the strike length of existing zones of gold mineralization into this ‘new’ area (during future drilling seasons).
Moreover, during the second half of 2011, additional ‘pure exploration activity’ is expected to further delineate additional oxide and sulphide gold mineralization along strike and depth, with highly anticipated core drilling slated to transpire at the southwestern flanks (of both East and West Uzboy); known to contain wider and higher grade intersections of gold mineralization; harboring considerable potential to expand the size of these zones.
Best of all, - based upon drilling results to date, it seems quite conceivable that West Uzboy and East Uzboy actually represent two wings of a single mineralized anticline, the hinge line of which is plunging to the SW; and, if so, both mineralized zones could join (southward of the West Uzboy open pit) in a circumstance where higher grades and wider widths will coincide.
So, this is all good. I hear the distant thunder. A beautiful thing, -
The real ‘grand slam’ potential resides at Shirotnaia and Dombraly, with Alhambra looking to have in hand a National Instrument ("NI") 43-101 compliant resource report on each by year end. In recent months, a great deal of activity has transpired at both of these sites; with a very aggressive delineation program already completed at Shirotnaia (where an enormous 45 diamond core holes were drilled) and another significant program is currently underway at Dombraly.
2011 looks to constitute a major turning point.
“...can you sense it...can you feel it in your bones, is your hair starting to tingle...?”
Yes.