RE:RE:Lots of holesYes, it makes sense that a richer ground in a smaller area would require less holes. I did some reading in our two favourite comparison mines and here are the results
Greenstone property totals 158 square km drilled 1682 holes over 3 sites 3 times the size of Ishkoday with half of the ounces based on our "10m" with the main strike zone 5.7 km x 1.7 km but to a depth of 1.8 km
Indicated and infered resources of 4.5 M oz at the Greenstone mine but with 4.3 of those under ground and only 0.25 M oz in open pit
Equinox paid $612M Cdn ($480 US) for 50% of 5M ozs + $1.22B Cdn for 5M oz or $244/oz for mostly underground ozs
Great Bear details from time of sale, 91 sq km strike zone 10.8 km x 300 m wide (on average) to depth of 786 m. 80 % of holes with visible gold.
Drilling 794 holes at 50-150 metre spacing intervals 80 % of holes with visible gold.
Open pit 3.3 M oz Underground 1.5 M oz
Ishkoday Property total 47 sq km with 419 holes on a strike zone originally 3 km x 1 km when the claim was 10 M oz but recently expanded 6 km x 2.5 km
The 10 million claim was not out of thin air but based on 283 drill holes plus almost 15000 surface samples. From the 3 x 1 km A- Zone @ 40-50 million tonnes grading 2.5 g/t Au or 9 million GEO's and they expected there was a potential for 10M in the 3 sq km zone that showed quarz veins up to 1km long.
Now we just need the Aquirer to workout the GEO's currently proven and let us know how many and how much they will be writing the cheque for.
As for the price per GEO's, I'll take it in Cdn. The GBR buyout at $1.4 B US was also listed at $1.8 B Cdn in the reports and with 8.5 M ozs as reported it came to $165 / oz US or $211 Cdn
I will be very happy with $300+ in CDN funds thank you
Dear Cynthia, When am I going to get my options for all this investigating and PR work