A few brief comments on the drill plan 1) I believe the 43-101 resource estimate was published in May 2010 and the P&P reserves come out in July of 2010. The first note in today`s NR comes across as if they might be seeing opportunities from re-logging the cores and from data analysis of drill holes prior to the last published resource estimate.
What is interesting is there were 2 NRs published with decent drill results in December 2010 (drill holes mainly in places like the NE Pit Extension, Southeast Lobe, etc.). I`m sure these bunch of late 2010 drill holes have provided them with ideas for near mine drill targets for this upcoming round of drilling (be it as 43-101 inferred targets (to be upgraded further) or (yet to be counted in resource type) expansion targets) . I just don`t know where they fit into (relate to) today`s NR: Here are the late 2010 drill results (published subsequent to the 2010 M&I and P&P Reserves calucations):
https://www.nwmcorp.ca/news/pdf/101201.pdf
``The Company has received and reviewed the results of an additional 27 core drill holes completed at Lluvia de Oro since the drill results reported July 20, 2010. Results of current exploration drilling are expected to add new mineral resources and mineable reserves to the sum of resources and reserves reported in Company’s NI 43-101 report of July 8, 2010. `` ````
https://www.nwmcorp.ca/news/pdf/101215.pdf
``The Company has received and reviewed the results of an additional 17 drill holes completed at Lluvia de Oro since the drill results reported December 1, 2010.``
From today`s NR:
``Highlights for the planned resource expansion program include:
- The inclusion of new data from 111 drill holes (75 diamond/"DD" and 35 reverse circulation/"RC") totalling approximately 18,000 meters that were completed prior to the existing resource estimate (2010). These holes have been re-logged and prepared for data analysis. The holes were completed to test extensions of the Lluvia de Oro deposit as well as to test other prospective locations within NWM Mining's 5,700 Ha contiguous claim area.``
2) Based on pg. 10 of the Corp. Presentation, some of the Inferred ounces are located at the bottom and surrounding the existing pit (s), thus hopefully they represent relatively low hanging fruits both to drill up to P&P and eventually to add into the mine plan.
From today`s NR:
``Approximately 5,000 meters of RC drilling that is targeted specifically at areas of the Lluvia de Oro deposit containing significant quantities of inferred gold resources. The goal is to convert a substantial portion of these gold ounces into measured and indicated resources.``
3) Hopefully they found that the mineralized body was still open in certain directions (while mining) and therefore performed geo modelling to identified new (high potential) extensions.
From today`s NR:
``Recent geological modelling has clearly identified potential areas for extension of the Lluvia de Oro orebody along strike from the current reserves. A portion of the currently planned program will target these areas in order to expand the overall resource base.``
4) It doesn`t sound to me like it will be the type of drill program at Gold Ridge that will be comprehensive enough to propare a 43-101 resource at Gold Ridge after the first go around, but you never know I guess. It looks like the initial RC drilling effort at Gold Ridge is more about data gathering on the geological structure of the deposit (a very promising quartz porphyry).
``A small grid of shallow drill holes will be completed at the company's Gold Ridge target located adjacent to the Lluvia de Oro deposit in an area where test mining was undertaken in 2012. The objective of this work is to better define the geological continuity of this highly prospective area.``