Post by
digger144 on Oct 18, 2010 2:23pm
Moving West....
They are moving West at the Cote Lake Discovery and we got a taste of what is to come.
They reported on one hole in each new Section, namely, Sections 91+00E @ E10-29 & 90+00E @ E10-31.
Both E10-29 & E10-31 hit significant mineralization and is pointing to expansion of the Discovery moving West...this is great news!
It is important to note that as of this latest release we do not have any idea of where they spotted the drill and on what heading, this information will be released later this week and I will report back shortly after that information is released. I do realize that as mentioned recently on one of my posts they had to deal with a creek and marshy area in Sections 91+00E & 90+00E and I am very curious to know where they positioned the drill in that area. One thing of concern and I cannot really make any conclusions at this point is that they had to drill through a lot of rock before they hit mineralization in the new Sections, this may or may not turn out to be a problem I need more information. I believe the market has picked up on it...they would have to remove a lot of nothing to get to it....this will fall in the waste/ore strip ration....very important! I will report back on it as we receive more information and will voice any concerns I may have.
However, having said that I did take note that on their last release they had drilled 34 holes @ 15,000+ metres and today we were informed that they had drilled a total of 43 holes @ 18,000+ metres. This is telling us that 9 holes amount to a total of 3,000+ metres yielding an average per hole of 330 metres.
What does this mean?
We know that they must still report 3 more holes to cover the remainder of the 34 holes @ 15,000+ metres which leaves us with the 9 holes @ 3,000+ metres telling us that they must of covered a near surface pattern of targets. The majority of the 9 holes must be in Sections 91+00E & 90+00E..the new Sections and leads me to believe that they followed somewhat of the same drilling operations as in the initial drilling program in Section 93+00E & 92+00E...if this is true then they have most likely found more of the same in the new Sections moving West.
Today, they mentioned that and this is very early stage we might be looking at a Deposit containing 3.5 to 6 million ounces at Cote Lake....not bad! Fantastic!
We need a lot more drilling to confirm the estimates but it all looks good to me!
Give us more of the same....Thanks Very Much!
The market will begin to reward them for their efforts and results!
Digger144
P.S. I will give a more detailed report once we get the updated diagrams.
Comment by
digger144 on Oct 18, 2010 2:32pm
Correction...In my last post I mentioned waste/ore strip ration....sorry about the extra "n"..typing error.It should be waste/ore strip ratio.If some of you have the time, do some research on this topic...it is very important when it comes to the Cote Lake Discovery!Digger144