RE:?'s for Goldexec and/or Hammer etc.
Hello BXJU,
I don't remember seeing the total in the report for either Ind. or Inf. it would be nice to know.
3.) They should be able to use these holes in re-assay provided (and sure they will) put in standards and blanks. There are multiple reasons beyond the assay issue that may cause these holes to currently stay in the inf. These issues would include the space between each hole (location from drill hole to drill hole). Certain spacing is required so that you can build a reliable model. Obviously you can't have huge distances between holes and say the grade between the two is the same. Other issues would include knowing how the remaining pulps were stored (Custoday, care, etc.), knowing that the drill holes survey location is good. The report talks about issues in regards to this, in particular, the underground. The QP made an attempt to find old drill colars and do to reclamation, new road building, etc, they didn't have much luck finding old holes. If I remember correctly, they overlaid coordinate locations over aerial mapping to see how they fit. I have no doubt that many of these holes will go into indicated, but many of the above items will need to happen. I honestly expect to see more drilling (infill) to be done in order to get Oz's from one col. to the other.
4. I believe the comment about MS assays will be interesting to see what happens over the whole of the project. I have said before, often the MS over larger areas will average towards the ICP-MS and fire assay. Lets say it doesn't and that the MS does pick up more of the course gold (I would expect the MS to pick up more in the high grade zones) and I did see they said it picked up some gold in areas that they didn't expect. all interesting. It will be something they will develope over time as to the req, to do MS assay. More interesting is to look at the only hole they reported with the graph and with comments as to the amount of gold in the twin. I get it, they found gold in un-assayed areas, but based on what it said, it didn't appear much of it was above a gram. THE important thing to get from this is what will most likely happen to this deposit. My own view is that grade will go down significantly, but yes oz's will go up. The 43-101 will be interesting with new assays, but the PEA and even more importan a FS study will really tell you what happens. Don't be surprised to see significant oz's to be dropped from the 43-101 in a FS. Obviously, they will have to change price and grade constraints much diff. then the current 43-101...
5. I am guessing this belt is just a cheap way to do graviety sepperation. I honestly skipped most of the report that delt with discussion on BL. I know it means something for company, but my primary interest was to see what was done in new resource. Be fun to see what happens when they use $1100 gold.
6. It is rare that you can just jump into a project, especially if a pub co. No one is going to give you money if you can't show the project works on paper. there are exceptions... The issue that is killing projects around the world is that proper estimates with regards to time have not been put into place. Inflation is killing all these projects. Certain parts of inflation in particular. It is one thing to apply a certain % of expected inflation to a project, but what has happened in ming is certain high cost items have really gone crazy. This would include large tires (12 -15 feet tall tires that cost huge amounts) there was a huge scarcity in tires for producing mines. You would be stunned to see what kind of studies go on at actual working mines just to extend tire life. Steel prices for mill construction (large I-beams, sheeting, cast cone crushers, etc) went totally crazy for a while. Obviously fuel cost are incredible. The goldstrike mine in NV (Barricks flagship) uses over 1 million gallons a month. they have had to clean up exhaust etc. Add in some crazy spikes in the cost of electricity, or bring a big enough line to a project and it can kill it. A simple rule that I use is; Double the estimated cost and half the return. Does it still pencil to make a profit? if so, it has at least a chance to go forward.
Hope this helps... And FWIW, being skeptical is an asset to evaluating either an investment or a project... Best of luck!