the reason Rochester Resources has no NI 43-101 explained
In 2010 Rochester Resources raised over 12 million dollars for two main objectives. To increase production and to generate a significant NI 43-101. The significant NI 43-101 was supposed to be completed by the late 2010 or early 2011. 300tpd was supposed to be reached by mid 2010 and first stage productiion ramped up to 26000 gold equivalent ounces per year. Eventually the money was burned up and none of these objectives were completed.
So what happened? How come the objectives were never completed? I believe I have the answer!
Rochester Resources was expecting results around 9 g/t gold and 250 g/t silver average grade. The drill results were way below expectations and eventually the company stopped drilling to conserve the cash. So they were not able to complete the NI 43-101 and production could not be increased because there would be a risk of running out of mill feed again.
Rochester Resources openly published the first drill results to the public. Afterwards the drill results were mashed into the sedar filings. Eventually the company stopped drilling.
Twelve diamond drill holes have been completed on the Florida NW Vein.
Significant intersections are as follows:
Hole From To Interval Gold Silver
m m m g/t g/t
FLNW01-10 45.61 46.19 0.78 1.78 18.0
FLNW02-10 No Significant Assay
FLNW03-10 110.60 111.60 1.00 0.96 33.0
FLNW04-10 48.33 49.09 0.76 0.80 less than 10
FLNW05-10 No Significant Assay
FLNW06-10 72.01 72.69 0.68 0.88 31.5
FLNW07-10 76.45 76.98 0.53 1.56 12.0
FLNW08-10 No Significant Assays
FLNW09-10 87.47 87.95 0.48 8.18 99.0
133.35 134.00 0.65 1.43 37.0
FLNW10-10 59.37 62.92 3.55 2.72 222.0
75.10 76.50 1.40 1.61 97.6
FLNW11-10 65.35 67.46 2.11 1.70 233.0
FLNW11A-10 95.76 97.04 1.28 1.12 36.0