RE:RE:Exploration InsightsI talked with Brent about Pretium at The GSN Symposium 2015 in Reno. He said he was sceptical about the continuity of the breccia zones. He said he felt rather unwelcome because of his early scepticism, I see it as being smart in a world of BS... show me, trust no one!
I said that I held core from VOK, as a gold geologist, I had never seen anything like it. He said that the block model for him didn't hold high confidence, breccia zones ARE irregular, some highly irregular. My reply to Brent's well placed doubts were that IMO the amount of gold in the block model has been under-estimated, it is a common result of geostatistical models of coarse gold deposits. The density of hits in early drilling strongly hinted to me of continuity off ultra high grade zones within the breccia where found by the drill bit.
To be sceptical about resource models in coarse gold deposits is wise. But a time comes when one needs to follow the bulk sample data and recent infill fan drill data and realize that the reserve calculations are a clear floor on the contained gold in the stopes to be mined. My argument to Brent centered on the fact that VOK is a COARSE gold deposit in spades! One assay ton fire assays undervalue coarse gold samples IMO, but I'm not alone. So resources and reserves calculated based on this method have a built in result of being very conservative.
Remember that with the discovery of Cleopatra, it's trend was parallel with drill holes... How many other drill holes run parallel with ultra high grade zones and never taste them? Fantasy? No fact as Cloeopatra demonstrated. I also added that coarse gold deposits DEMAND large samples to validate and generate high confidence in reserve block models. It is unimaginable that someone would suggest that assaying a very small fraction of the sample taken from VOK coarse gold deposit was better than testing the entire sample. In coarse gold deposits the best sample is the biggest sample. Fantasy? No, fact, the VOK bulk sample performed, period.
Confidence is what has been added to the VOK FS Reserves IMO, maybe Brent will see it now too. He was sceptical but I pushed my case, gave him my ticket to a GSN lunch I couldn't attend and wished him well.
not investment advice DYODD