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Newcastle Minerals Ltd A.NCM


Primary Symbol: V.NCM



TSXV:NCM - Post by User

Comment by miningmanon Feb 16, 2020 1:03pm
152 Views
Post# 30697333

RE:RE:RE:RE:RE:Another dose of reality..

RE:RE:RE:RE:RE:Another dose of reality..
LovesAU wrote: .

My biggest problem was achieving a true estimate of actual grade. You were high consistently- miningman was low but very close. My problem was if in fact PVG was cherrypicking/high grading- where was the actual average grade gonna land? We now know at best it's 8g exactly half the grade this company used to sell stock. That's a helluva miss and certainly not just a mistake. 
.


Loves ,I am  sure that you will not object to a correction /  clarification  to  this statement of  yours.   The  mouth  breathers  might choke,  but they'll   get over it.   I  have tried to explain  on a couple of  occassions that  activities at  Brucejack  over the last  few years  have  not included  high  grading in the normal  sense ,  but rather very selective cherrypicking  of  stoping  blocks.

In  the Q+A   session of  this  last  dog and  pony  show ,  Joe  O  made two very revealing comments....... almost  throw away   comments  to the general  public ,  but extremely  revealing to me.    First  when  asked,  How  many stoping blocks  are being  worked today ???  his  answer   was "  Half  a  dozen".   Then  when asked  hoiw  many  stopes  were mined out  in 2019,  the answer was  67..   

Now  cast your mind  back  10  months or so,  and  recall the  idea  that  development tates were being  increased  from 420 ,  to 700   to 1000  metres  per month in order to  increase the number of  working stopes ,  to improve  blending ability , give the miners  more flexibility,  yada yada  yada. At that time there were   6 of  7 stopes  in  production  and the goal   was get to  15  or  18.   There was even  42  reported  as being in  various  stages of  development.


I always thought 1000  metres a month was an  extremely  aggressive target,  but  I agree that   more working stopes   is a major  operational improvement.  And here we are, 8 or  9  months later with zero improvement to show  for it!!!   WTF is  going on here??

Total  develpoment  for the  year  was reported  937  metres  per month  or  11,244  meters.  The  ramp  from  1200L  to 1080 L  will have been  800 metres ,  plus  maybe 200  metres for  sumps and  remucks ,  so  10,200   metres  of  stope  access.  Milled  ore  was 1.3  million tonnes   so  development  per stope averaged   127 metres per stope.    This  is   about twice what  I  would  have expected  based  on  design  stope  geometrr previously published..

To  me  this is confirmation  of what  I  have suspected for some time.  Despite Paths  assertations that  the miners have no choice but to follow a pre determined  well thought out  stoping sequence,   they  have  been developing at a rate  double  what is required in  the short term  ,  to give themselves  flexibility  to  temporarily  ignore the 4 , 5 and  6  gram  stoping  blocks   and  in order to  maximise  short term  ounces ,  only  mine the   hi grade  9  .  10  and 12  gram  stopes with some low  grade development  muck  thrown  in..

The  other  interesting  number  is that tonnage  per stoping  block  appears to be  19,400  tonnes per stope.  This is  very  low  for  blasthole  mining,  but it is what it is.

However  if  my  estimates of   stope development  rates is anywhere close ,  then  there are about  67  stopes sitting there ,  already  developed   and  test drilled adequately to  suggest they are all   sub  8 grams....... anything better would have been mined

So  then  tie this in  with Joes  report  that  stope development in  H1   is to be essentialy suspended in order to focus  on  leteral  development towards the  Brucekack  fault  and  towads the east,  with  stope development restarting  in  H2  2020.   It now becomes clear  where  the mill feed for  H1   is coming  from......developed stopes that  nobody  liked the look of  in  2019.

Then  add in  the start of  reverse circulation  stope drilling in Q2.  This  is I  believe a new idea at  Brucejack.  This will be considerably  more expensive than  just assaying the blasthole cuttings  which  suggests they need  additional  gelogical  info to  select  which  ones  of the  low  grade stopes  need prioritizing  as mill feed.

There are additional  comments I  can  make  bit we'll save them  for a while  
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