Focus of Current Drilling...Click on the following:
https://www.roxgold.com/i/pdf/Zone-55-Long-Section-Oct-25-2012.pdf
Once there, you will locate the all important expansion potential of the 55 Zone....any significant mineralization on plunge will be rewarded accordingly...in otherwords, a catalyst moving forward. Management did state "Plunge well defined to below 400 metres".
However, I believe it is very important to keep in mind that the Initial NI 43-101 Resource Estimate covers known mineralization to a depth of 250 metres. The posted Long Section of the 55 Zone clearly demonstrates significant mineralization to a depth of 400 metres, the Left Hand Border of the diagram identifies the depth parameters. The extension is not included in the Resource Estimate and must be considered when factoring in future share price appreciation possibilities...in my opinion it is not presently in the share price.
For confirmation, see the following:
August 7, 2012, Vancouver, B.C. - Roxgold Inc. ("Roxgold" or the "Company") (TSX.V: ROG) has received the initial resource estimate from AGP Mining Consultants Inc., ("AGP") of Toronto, Ontario for the 55 Zone on its 100% owned Yaramoko Property located in Burkina Faso. Resources are reported as of July 20, 2012.
MINERAL RESOURCE ESTIMATES
The results from the initial resource estimate for the Yaramoko 55 Zone returned 617,000 tonnes of Indicated resource grading 17.8 grams per tonne ("g/t" or "gpt") gold containing an estimated 354,000 ounces of gold. In the Inferred category, the initial resource estimate returned 1,244,000 tonnes grading 7.7 g/t containing an estimated 306,000 ounces of gold. The resource estimate is restricted to the 55 Zone and does not include intersections drilled on other zones discovered on the Yaramoko Property.
| Classification |
Gold |
Tonnage |
Gold Grade |
Gold Contained |
| Cut-off (g/t) |
Tonnes |
g/t |
Oz |
| Indicated |
> 2.0 |
617,000 |
17.8 |
354,000 |
| Inferred |
> 2.0 |
1,244,000 |
7.7 |
306,000 |
- The mineral resources are classified as indicated and inferred, and comply with the CIM Definition Standards on Mineral Resources and Mineral Reserves referenced in National Instrument 43-101.
- The Mineral Resource Estimate Parameters and Methodology used by AGP are set out later in this news release along with a table setting out the contained ounces of gold, tonnages and grades at varying cut-offs. It is important to note that increasing the cut-off grade from >2 gpt to >5 gpt does not materially impact the number of contained ounces and raises the estimated capped grade of the indicated resource to 22.6 gpt.
"The receipt of this high grade gold resource estimate marks a turning point for Roxgold" said Robert Sibthorpe, President and CEO, "and validates the strong financial support provided by our shareholders over the past year." This support has enabled the Company to rapidly establish the initial resource estimate. Roxgold can now move forward with plans to acquire the personnel and assets appropriate for an advanced exploration company approaching the development stage. The Company is currently pursuing candidates to strengthen its technical and management team. Negotiations are ongoing with accredited laboratories for the construction of an on-site prep lab or assaying facilities. The Board is committed to taking all actions necessary to ensure the successful advancement of the 55 Zone, while maintaining a strong exploration effort to discover and explore additional gold zones at Yaramoko.
The information contained in the updated Technical Report on the Geology of the Yaramoko Exploration Permit, and any subsequent resource estimate updates, will be used in the Preliminary Economic Assessment ("PEA") of the Yaramoko Property, which is currently in progress under the direction of AGP. At present, there are six drills engaged in resource expansion and resource category upgrading activities on the Yaramoko property with an additional 30 holes scheduled to be drilled on the 55 Zone during the next 2 months. The initial resource estimate does not include information from 32 holes drilled on the Yaramoko property for which assays are still pending. Roxgold management believes that there is a reasonable expectation that these holes may add to the overall resource and will convert some of the resources currently in the inferred category to the indicated category. For this reason AGP has been asked to continue to monitor the 55 Zone drill program so that an up to date estimate can be incorporated in the PEA.
The Company would like to note that the current resource estimate is based on only nine months of drilling, a period during which drill availability and other exploration infrastructure was severely limited in Burkina Faso. The initial resource estimate includes 128 holes, totaling 31,775 meters of core drilling. No drill hole with a number higher than DDH-148 was included in the resource estimate.
"The Roxgold exploration team both in Canada and Burkina Faso deserve recognition" said Lead Director Allan Fabbro, "both for the discovery of the 55 Zone in early 2011 and the three subsequent efficient drill campaigns which delineated the resource received today. Their work will allow the Company to go forward now with a promising asset and a strong treasury." The Company is particularly pleased by the high proportion of indicated to inferred resources, especially given the requirements for indicated resources generally included a drill density pattern of a maximum of 25 meters between drill intercepts. Most of the resource estimate reported here is located between surface and a depth of 250 meters, with the deposit remaining open to depth.
The 55 Zone Long Section gives us a view looking West to East....they must determine the North to South mineralization limits of this most amazing high-grade discovery. In terms of the time it took to get to this point the future looks very bright...they have just got started.
Digger 144
P.S. Early days....to be sure!