Ore Reserve & PEA Announcements RE:"Planning is under way to develop the Grey Fox mine, located on the southeast portion of the Black Fox complex. The initial resource estimate from this area, announced in December, 2011, added more than 50 per cent to the gold resource at the Black Fox complex. Brigus is in the process of expanding the resource and converting inferred ounces to indicated ounces through systematic infill drilling. An updated resource estimate will be released in September. Initial engineering studies have also been initiated and will continue through 2012 to determine project economics as well as development and production timelines. A preliminary economic assessment (PEA) for Grey Fox will be released in the fourth quarter, and will incorporate the new resource."
[S] Two key dates going foward. Look at Lakeshore and Timmins for options of how to take BRD to the second pearl (in the string). Alternatively a JV with a deep pocketed major or Matheson/Hislop player with access to milling capacity.. might just be the ticket. In addition, the switch of mining methods to (banked tonnage) longhole, will present BRD with an opportunity to carry a drilled reserve and limit blasting to an as needed status. But first this "drilled reserve" will have to be drilled and the blast and mucking will also have to be defined. Once established the flexibility will only be positive.
BWDIK? It all takes time! Sequencing is not the answer for the impatient. Bulk (jumbo) mining is cheap but longhole may be as cheap; but the time taken to establish the "drilled reserve" is way different.
Cheers
Stanley