Tea LeavesPhase II drilling should be starting within days ("mid-September")
IMZ update due soon, also they posted a new presentation on their website dated 9-13-11, for Goldfield Main, they modified Slide 16, portion of it now says this:
Ongoing Development Program: $10M Expenditure in 2011
Feasibility Study: Finalize mid-2012
Gemfield and McMahon Ridge deposits only.
Goldfield Main Study pending size and metallurgical optimization.
https://www.intlminerals.com/Pdf/IMZ-September%202011%20Presentation_2.pdf
NotNot sure what it means, but the August update talked about pre-feas for all 3 Goldfield areas by Q2 2012, and spoke of spending $16M.It said this previously:
Recently Announced Increase in Resources at Goldfield Main
Indicated Resources increased 74% (to 421,000 ozs Au)
Inferred Resources increased 350% (to 360,000 ozs Au)
Ongoing Drill Program
2011 Budget - $16M
Complete Feasibility Study – mid-2012
Also, new Slide 39 (aerial picture of Goldfield Main) eliminates the phrase:
Not sure what it means, but the August update talked about pre-feas for all 3 Goldfield areas by Q2 2012, and spoke of spending $16M.It said this previously: Also, new Slide 39 (aerial picture of Goldfield Main) eliminates the phrase:
Area of Ongoing Drilling
(Currently 780,000 oz Gold Resource)
and now just says:
Area of Ongoing Drilling
So, to summarize, spending $6,000,000 less and removing the reference on the slide to the Goldfield Main Ind & Inf (still in other table on another slide), and now "pending size and metallurgical optimization" and not part of Feas Study... what could it all mean, I do not know, but something is changing.
I also noticed that on the ICN website, under Properties, Goldfield Bonanza Project, this is the paragraph:
The initial core hole results released on May 17, 2011 included one exceptionally high grade hole with an intercept in hole ICN-003 containing an upper portion assaying 1,454.3 g/t Au over 2.9 metres, followed by a lower grade interval of 42.7 metres of 4.2 g/t Au (combined these yield an intercept of 45.6 m @ 96.3 g/t - see Table 1 below). If the two highest grade intervals of 1.22 metres @ 2,710 g/t Au (79.1 opt), 1.68 metres @ 541 g/t Au (15.8 opt) are cut to 5 opt (171.4 g/t), the intercept becomes 45.6 metres of 14.8 g/t (cut to 5 opt).
On May 17th news release, this was the paragraph:
The intercept contains an upper portion assaying 1,454.3 g/t Au over 2.9 metres, followed by a lower grade interval of 42.7 metres of 4.2 g/t Au (see Table 1 below). If the three highest grade intervals of 1.22 metres @ 2,710 g/t Au (79.1 opt), 1.68 metres @ 541 g/t Au (15.8 opt) and 1.98 metres @ 57 g/t Au (1.6 opt) are cut to 1 opt (34.3 g/t), the intercept becomes 45.6 metres of 5.1 g/t (cut to 1 opt).
Also I noticed this sentence was added to the Properties, Goldfield Bonanza Project compared to any previous news release:
"Had the Church Zone not been covered by 17 m of post mineral rock, it would have been mined in the early days of the district."