Good news
in response to
by
posted on
Sep 25, 2012 10:27AM
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%)
My opinion of the release is that it is extremely positive
The Mira hasn't found a new pot of gold but has re-confirmed the results from 2011 drilling:
This is a total bonus and likely ther only reason it was done.Now there is no dispute as to the inferred minimums and still an open door to added potential.
The results of work by Mira Geosciences have fine tuned the previous interpretations of the Titan-24 data. Their interpretation continues to report a strong correlation of the mineralization in the Schaft Creek deposit and to the mineralization in the Discovery zone located approximately 2 kilometres north of the Schaft Creek deposit. The chargeability signature that extends from the north end of the Paramount zone for a distance of approximately 3.5 kilometres to the northwest could have impact on the exploration potential of the Schaft Creek project. The extension of the strong chargeability signature associated with the Paramount zone represents a priority drill target and has the potential of extending the mineralization in the Paramount zone an additional 500m to the east under Mount LaCasse.
Elmer Stewart stated " It is evident the company is at the final stages of completing this important report, that being said, the company will diligently perform its internal review process to ensure completeness and accuracy and that the final report appropriately reflects the economic potential of the Schaft Creek resource.