OTCQX:BGMZF - Post by User
Comment by
halcroon Aug 02, 2015 6:29pm
139 Views
Post# 23983937
RE:BIV-BGM
RE:BIV-BGM"...The new technical report that Barkerville commissioned for Cow Mountain updated in March 2015 puts the resource at 2.8 million ounces of gold indicated and two million inferred ounces.
Although nowhere near the 10.6 million indicated ounces that Callaghan was citing in 2012, its nothing to sneeze at. But Cook still has questions about how the resources have been calculated.
Theyre still using multiple-indicator kriging on this thing, which points to how complex and erratically distributed and nuggety the gold is.
Kriging, Cook explained, is a mathematical formula used to estimate grades where geological data isnt available.
In my view, there really ought to be a new group doing a new resource [estimate] once the data has been all fixed up, Cook said. Ultimately, we need to get a reliable pre-feasibility or better study on this to see whats involved and the mining methods, the cost, the recovery.
Mickey Fulp, who publishes the Mercenary Geologist newsletter, said theres no question that Barkerville is sitting on some high-grade gold deposits. He just doesnt think they are large enough to warrant the kind of investment that Sprott has made.
Despite the problems it has had, Barkerville has managed to raise $6.9 million in private placements in recent weeks and plans to undertake a large-scale drilling program on its Bonanza Ledge property.
Next week: An in-depth look at Frank Callaghan, the colourful, controversial Howe Street promoter behind Barkerville Gold
nbennett@biv.com
https://biv.com/article/2015/7/new-chapter-controversial-barkerville-gold-saga/