RE:SGD hasn't proven up enough ounces???speedyg999 wrote: Which other non-Whale company has proven up +7M ounces of high-grade open pittable gold?? And has a giant, prospective property package with fabulous never-drilled targets around it?? SGD is the world's #1 gold takeover target, and is woth way more than $9.50 per share. I have a $12-$15 price target on Snowline. WAKE UP FOLKS!!
SGD hasn't demonstrated any proven or probable reserves yet.
An "Initial Mineral Resource" document provides early-stage estimates of "Inferred" and "Indicated" ounces - measures that provide the lowest level of confidence in terms of demonstrating proven or probable reserves.
SGD's Initial Mineral Resource press release:
3.3M ounces Inferred
4.1M ounces Indicated
Three types of Mineral Resource Estimates:
Inferred Mineral Resource:
The part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.
An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
Indicated Mineral Resource:
The part of a Mineral Resource for which quantity, grade or quality, densities, shape and physical characteristics are estimated with sufficient confidence to allow the application of Modifying Factors in sufficient detail to support mine planning and evaluation of the economic viability of the deposit. Geological evidence is derived from adequately detailed and reliable exploration, sampling and testing and is sufficient to assume geological and grade or quality continuity between points of observation. An Indicated Mineral Resource has a lower level of confidence than that applying to a Measured Mineral Resource and may only be converted to a Probable Mineral Reserve.
Measured Mineral Resource:
The part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit. Geological evidence is derived from detailed and reliable exploration, sampling and testing and is sufficient to confirm geological and grade or quality continuity between points of observation. A Measured Mineral Resource has a higher level of confidence than that applying to either an Indicated
Mineral Resource or an Inferred Mineral Resource. It may be converted to a Proven Mineral Reserve or to a Probable Mineral Reserve.
Mineral Reserves:
The economically mineable part of a Measured and/or Indicated Mineral Resource.
Two types of Mineral Reserve Estimates:
Probable Mineral Reserves:
The economically mineable part of an indicated, and in some circumstances, a Measured Mineral Resource (Inferred ounces cannot be included in probable reserves). The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve.
Proven Mineral Reserve:
The economically mineable part of a Measured Mineral Resource (Neither Inferred nor Indicated ounces can be included in proven reserves). A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.
That said, I am confident that SGD's Valley project will eventually show an impressive number of proven and probable reserve ounces, but a Feasibility Study would have to be completed to find out what the number is.