Re: Both Sides of the Picture
in response to
by
posted on
Feb 11, 2012 12:23PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
1. "Hole 419 was not a new find". This is an excellent point of conjecture..to be honest I cant refute this point...might I ask where your info is coming from?
I will try explain myself a bit better here. From the Nov 15 news release, we know that hole 419 was started at an elevation of 1037m above sea level. From the Feb 3 news release, we know the hole was mineralized to 257.7m along the drill hole. Since this hole was not drilled vertical, some math will show that it was mineralized to 232m below the surface. Therefore, this info tells us that hole 419 is mineralized from roughly 805m to 1037m above sea level. If you look back to the "2010-2011 Drill Hole Location Map" you will see that the block model is shown for an elevation of 600m ASL. So our results are "above" the model shown. The July "Current Block Model" shows things a little more clearly, but we are still "above" this block model too. The best source of info is the "Main Zone Ellipses Section 6359500" from July. If you find the drill collar around 1037m, you can see that the current block model shows mineralization down to about 800m above sea level. Therefore, the location of hole 419 was already included in the current resource estimate. We likely found grades higher than our resource estimate had, but this was not a new find of mineralization.
3. Drills move about 40m per day depending on the rock. Then theres moving time for the drills into new locations. However this is a pretty stock rate.
I was referring to the time it takes to get our assays back. I don't know many other companies that are still waiting for 2011 results so we must have chosen a very slow lab.