"The PFS indicated Schaft Creek could produce approximately 4.8 billion pounds of Copper, 255.1 million pounds of molybdenum, and 4.5 million ounces of gold and 32.5 million ounces of silver over a 22.6 year mine life."

2011 Ressource was:

Measured & Indicated:

5.79 Billion pounds Copper, 363 Million pounds Moly, 5.5 Million Oz Gold

Inferred:

1.5 Billion pound Copper, 69 Million pounds Moly, 1.34 Million Oz Gold

TOTAL:

7.63 Billion pounds Copper, 452 Million pounds Moly, 7.16 Million Oz Gold.

It's always important not to forget the Inferred.

Just remember the recent acquisition of TRR...for $3.30...

They had almost nothing in Measured and Indicated..it was all based on Inferred:

''NI 43-101 indicated resource of 35 million tonnes averaging 0.82 g/t for contained gold of 0.93 million ounces and inferred resource of 204 million tonnes averaging 0.91 g/t for 5.94 million ounces of contained gold.''

http://www.trelawneymining.com/

And how can we forget Goldcorps acquisition of AND for 3.6 BILLION ....all based on exploration potential:

Andean had 2.54 Million Oz Gold and 23.56 Million oz silver. They had 471 million shares out

http://www.siliconinvestor.com/readmsg.aspx?msgid=26797694

"It all boils down to a truly exceptional asset by any reckoning," said Goldcorp Chief Executive Chuck Jeannes on an investors' conference call, adding discovery of such potentially prolific resources is "becoming exceedingly rare."

Mr. Jeannes said Cerro Negro not only offers shallow depth, robust production at low cost and short construction time, but also the opportunity for significant continued growth through expansion of existing deposits and new, connected discoveries.

Goldcorp is betting on the exploration potential of Cerro Negro,” said UBS AG analyst Jo Battershill . “I believe there are 10 million ounces there.”

“It goes to show that good deposits are hard to find and there’s a premium to be paid,” David Baker , managing partner at Sydney-based Baker Steel Capital Managers with $1.2 billion in funds, said by phone. “There’s more consolidation to come.”

Another example....Quellaveco in Peru...

http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/530269-district/messages/1677114