News Release InterpretationA couple of friends have e-mailed me asking what the news release really means...
Well, here's my read on it:
These results are quite encouraging...it looks like we may be a mine in the making. It's too early to start talking about resource calculations because there are too few holes and the distance between the holes is too great. However, by connecting the hits and assuming that similar ore bearing rock lies between (which is an assumption to be tested by more holes) you have good widths and sufficiently high grade to warrant continuing. I asked around and was told that in this camp and given the depth and widths encountered, 0.12 oz/au/t could be ore (i.e. commercially viable rock). We are looking at around 0.2 oz/au/t.
The fact that the zone remains open east, west and at depth, means that further tonnage is likely to be identified. Could a back-of-the-envelope resource be calculated at this time? No doubt, but it really has little meaning at this time...more drilling will hopefully build on these results.
Some of the positive factors to be considered are the favourable orientation of the deposit; the competence of the rock; the proximity to infrastructure and qualified workforce; the favourable government disposition to mining and employment... Again, it's early in the game, but this is a very good start. ONWARD AND UPWARD.