Butia The original 500,000 oz Butia deposit may be substantially increased with current drilling and re-assaying of historical cores.
As of February 9 nine holes were drilled into Butia increasing the total meters drilled from 20,000 to 22,500 (over 10%)
As well the company has been re-assaying historical cores, with the objective to move inferred results to measured and indicated, which along with the expansion drilling of Butia could result in an increase of proven resource estimates for Butia alone.
The current drill program at the Farenza de posta discovery is a grid with 50 meter center holes which should be compliant with a 43-101 resource estimate.
I would think that Lavras wouldn't jump from exploratory drilling patterns to Feasibility Study patterns without good reason.
I am thinking that the next NR maybe a new resource estimate for the whole combined package.
It's been 4 months since last assay results and Lavras said 6 to 8 weeks is the norm for receiving results, so it appears they are withholding news for a reason.
The purpose of the current drilling program at Buti is to increase the geological confidence of the existing gold resource by converting a significant portion of inferred geological resources into the measured and indicated categories and to increase the gold endowment of the existing gold resource. Approximately 23.3% of the existing resource estimate is in the Inferred category and the remaining 76.7% in the measured and indicated categories.
Since 2005, a total of 78 drill holes for20,000 meters have been completed at the Buti gold deposit. An additional nine new drill holes totalling 2,500 metres bring the total number of holes drilled at Buti to 87 (22,500 metres of drilling). Drill hole lengths from the current program typically range from 160.0 metres to 360.0 metres and have been completed as part of a program of 16 drill holes planned for this area.