RE:RE:Gold PricesThe last bulk sample was completed via drill and blasting the ore body. The main purpose of the bulk sample is merely to prove up the resource estimate. Due to pardo being a paleoplacer deposit the drill core assays can be erratic due to the nature of these deposits. Think about a prospector in their search for gold in a river scenario. The gold fines and nuggets accumulate around the downstream side of rocks and boulders or in any location where the water current slows and drops the heavier gold. This is exactly the same scenario as at Pardo. Drilling and sampling can have erratic results so Inventus is proving up the testing by determining how many drill holes and at what spacing will match the results of the bulk sample.
As for the money side related to the bulk sample Stefan admits the overall result from a money making standpoint didn't go well. This was not a result of the deposit but other factors.
1. The sample was transported over 300kms(186miles) to Timmins for processing, it was then transported to Glencore (in Rouyn Noranada QC.) another 220km for smelting and off to Chicago for final refining.
2. The processsing in Timmins requires the mill circut to be throughly cleaned of previously processed ores. Expensive and time consuming. The Redstone Mill charges a lot of money for such a small amount of processing because its a pain in the butt.
3. There would have been quite a few ozs. also left behind in this process.
4. Glencore also charges a significant fee for processing small samples.
5. And then final refining in Chicago.
Obviously, this is not how the actual mining process, milling, smelting and refining would happen in an full operating scenario. Making money would have been good optics but was not the purpose of the sample. The purpose was to prove the process by which a "compliant" resource estimate can be accomplished.
With the bulk samples they have shown they can drill/assay at certain spacings and attain comparable results. First sample came out higher then drill results, the second mini bulk samples came out slightly higher and the latest bulk sample came out very close to the drill results (perfect).
With the price of gold, all mills are going to be runnning at full capacity. The companies who performed this work wouldn't even touch such a small sample in today's gold environment.