Nord Gold NR - Reserves/Resource Update I have attached a link to the London Stock Exchange link of the full NR (located at the bottom of this page).
Here are a couple of quick (initial) comments of mine with regards to very selective quotes (pertaining to the HRG side) from the NR:
1) ``Bissa: Mineral Resources up 10%.``
The Jan. 31`11 NR had Bissa`s total resource ounces at around 2.86M. With a 10% increase, that would bring the Bissa specific total up to about 3.1 million ounces.
2) ``New resources estimated near the Bissa mine combining five different satellites with total Mineral Resources of approximately 1.7 Moz, including 1.0 Moz of Resources at a grade of 0.77 g/t at Bouly.``
I see this 1.7 million ounces as being incremental to the core (3.1M) Bissa deposit.
As such, I see the total Bissa resource profile as now being 4.8 million ounces (3.1M + 1.7M). As a result, I see the new Bissa operating mine as having a resource base of 4.8M ounces (core + nearby ounces) assuming that all of the new deposits graduate through normal economic deposit studies.
Bouly, part of the 4.8M, went from 253K (Jan. 31`11 NR) to 1.0 million on this NR).
3) ``Some of the 2011 drilling results at Taparko will be available shortly, and a reserve update is expected in Q3 2012``
4) ``Key exploration priorities in 2012 - 2013 will include:``
``o Continued life of mine extension at Buryatzoloto, Taparko and Neryungri;
oInitiation of drilling programme at Berezitovy, conversion of a significant Mineral Resource at Suzdal;
o Further Resource definition at Bouly and Uryakh;
o Bissa satellite drilling
o Continuation of Gross Resource conversion; and
o Regional exploration in Russia and Burkina Faso``
https://www.londonstockexchange.com/exchange/news/dow-jones/news-detail.html?newsId=20120424SN001901
It should be interesting to see if they finally issue a specific HRG news release today, given the material nature of the HRG info included in the Nord Gold / LSE release. I hope the Canadian regulators will be monitoring the situation.
It looks like JORC (I think Australian-Asian standard) and CIM (Canadian, 43-101) was used. I didn`t look at the fine print or support links to see the details. I would hope that the HRG properties were done in 43-101 and the non-HRG properties were in JORC.
I hope they didn`t exclude a HRG property from CIM and then use that as an excuse for not publishing HRG resource update to the HRG/TSX/North American market.