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Bullboard - Stock Discussion Forum Signal Gold Inc T.SGNL

Signal Gold Inc. is a Canada-based gold development company. The Company is engaged in advancing the wholly owned Goldboro Project in the Canadian mining jurisdiction of Nova Scotia. The Goldboro Project is an advanced exploration and gold development project located approximately 175 kilometers (km) northeast of the city of Halifax, 60 km southeast of the town of Antigonish, and 1.6 km north... see more

TSX:SGNL - Post Discussion

Signal Gold Inc > Drill results ??????
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Post by shiftyone on Sep 12, 2023 4:10pm

Drill results ??????

Were these good results?

Of almost 4000 meters drilling, they have about 20 meters total that would be feasible.

When they use a cut-off of 2.6 grams/tonne for open pit mining.  Is that an average that they need?
Because if you have to move 100 tonnes of rock to get to one 0.5 meter vein, does it make economic sense.

The news release is a bit confusing.  It talks about holes that had no significant reserves so they were not reported.   They have almost 4000 meters drilled.  They show the results from about 1800 meters.

Is open pit mining feasible if there is one vein 300 feet in the ground that has good results?

I'm trying to figure this stuff out.

I don't think that the results were good.   So I will encourage goldnhill to educate me.
Comment by DoumDiDoum on Sep 12, 2023 5:07pm
OMG. I was wondering when you would come out and how "bad" you would post about those results. 2.6 gram per ton is not the cut/off grade for open pit mining : it's the average grade we will get from the first two pits (which is quite high!)!  The cut-off grade is 0.45 g/t... how is that "educating" you?  Again, hitting your credibility... I'm not suprised ...more  
Comment by shiftyone on Sep 12, 2023 5:25pm
Is .45 grams/tonne really economical at almost 400 feet underground?  It's not like they can just scrape these veins from the surface. I appreciate your feedback.   Please keep educating me. And btw,  they announced the best holes. Did the one best hole average even .45 grams/tonne from top to bottom? I don't want this to fail. Some of you posters here really beat ...more  
Comment by shiftyone on Sep 12, 2023 5:27pm
You should do a google search for mines that are operating with a .45g/t cutoff rate.  Tell me how many you find.
Comment by shiftyone on Sep 12, 2023 5:31pm
Oh yeah, the 2.6 is not great really for a 1.4 million ounce mine. The costs to develop are way too high for that small of a mine. the thought that these results show that the open pit mining could be expanded to the west.  They don't say that it cannot be.  But they certainly don't show me a whole lot of evidence that they can be. Take care.
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