RE: Good read from another bullboard Thnx! Very interesting stuff. On which bullboard did you find this? Maybe its the same author (Vestedinterest) as from 7/27/2012 on stockhouse ? :
Ongoing analyses of historic vs present resource estimates arise from the seemingly impossible “quantum leap” suggested by Quinton Hennigh:
“this resource is a quantum leap in size and grade over the last resource for the Cariboo Gold Project published by Giroux (2006) which, at a 0.01 oz per ton cut-off, included an indicated resource of 479,504 oz gold at a grade of 0.046 oz per ton gold and and inferred resource of 112,992 oz gold at a grade of 0.033 oz per ton gold. Such growth over such a short time would be extraordinary, especially the increase in grade.”
Hennigh’s reservations stem from the assumption that the initial resource delineated in the Giroux calculations is the same resource calculated by Peter George, having grown in size and grade on the basis of additional drilling data having been subsequently added to the initial resource.
This is precisely where the skeptics have gone wrong. The top of the Sanders Zone open pit is no longer part of the resource that has been estimated by Peter George. In 1980, Wharf Resources began an exploration program aimed at defining an open pit resource on the NW flank of Cow Mtn., above historic mine workings. “Exploration of the property resumed in 1980 with most of the work directed towards surface showings worked in the 1920's on the Rainbow claim. Diamond drilling on this claim in 1980-81 located the Sanders zone; 70 holes were drilled on the zone in 1981. This work indicated approximately 907,000 tonnes of open pit material averaging about 3.42 grams per tonne gold (Coseka Res L, 1981 AR)” (from MINFILE Record Summary 093H 019).
The 2012 resource estimate of Peter George is confined to indicated mineral reserves within the 3550-4650 ft. elevations (see June 28 NR). The bulk of the Wharf Resources percussion drill cores of 1980 atop the Sanders Zone were situated between the 4450 and 4800 ft. elevations. (See cross-section map, Giroux report, 2006, p. 27). 150 feet of the total mineral resources within the top two 100 ft. benches of the Sanders Zone are not included in Peter George’s resource estimate. Grades are presumably below cut-off and those resources have therefore been deleted from Peter George's resource calculations.
This is a strong indication that Peter George has not engaged in shoddy or unrealistic estimations of resources at Cow Mtn. as alleged. The 10.6 million oz gold indicated (detailed results pending) have little to do with earlier resource estimates for a near-surface lower grade open pit and everything to do with higher grade resources subsequently discovered elsewhere*.
*On this, please see:
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31317021&l=0&r=0&s=BGM&t=LIST
Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?s=BGM&t=LIST&m=31322208&l=0&pd=1&r=2#mZLI4OAiF0Ar7BrE.99