RE:Beauce Gold Fields recovery is typically 6X drill results
kade1 wrote: The Beauce Gold Fields about to be spun off to HPQ shareholders, has a history of yielding 6 times the Gold estimated by drilling results (see paste below from NI 43-101 just published on Sedar).
"It can be seen that the nugget effect within the Beauce Gold Project is such that the final gold dredging recovery was about 6 times the drilling estimate of the gold content.
Making the assumption that recovered gold could be up to six times (x6) the results obtained through drilling this might suggest that the gold potential for the entire deposit now controlled by Beauce Gold Fields could range between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces (2,200,000 m3 @ 5.22 g Au/m3) using the x6 multiplier."
We already have a permit to perform a bulk sample pilot mine to excavate 9000 cubic meters of gold bearing sprolite at an estimated cost of $180,000 which could yield between $412,000 and $2.472 Million based on previous results.
This is going to be really exciting, and could result in a major increase in the value of BGF shares.
You need to be a share holder of HPQ to get free shares in BGF coming very soon.
My appogies, the cost estimate for the bulk sampling program must include the phase 2 part of the overall project which is around $2.7 million but includes significant other work as spelled out in the NI 43-101.
The overall estimated minimum gold of 61,000 oz on the property is still valued at over $99 million at todays gold price and a maximum potential of something like $600 million if the 6X factor plays out.
sorry about the error.
KD