Here I go again, making a comparison to ORE...
posted on
Nov 04, 2010 04:22PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
ORE, who's that, you say??? Well, it's just a junior explorer in Western AFRICA who has had a nicle little run in their share price... like today... up 59 cents to $3.77/share... WHY??? I took this out of the last news release:
"Orezone reported after markets closed Tuesday that gold resources at its 100 per cent owned Bombore deposit in the West African country "have substantially increased."
It said indicated mineral resources were 60.9 million tonnes at a grade of 0.81 grams per tonne for 1.6 million ounces, plus 60.6 million tonnes of inferred mineral resources at a grade of 0.96 grams per tonne for 1.9 million ounces."
So, what were we trying to prove up again??? Oh yeah. 100 MILLION TONS! Grade??? Oh yeah. Drill grade in Timmins historically at 2 grams/ton. Oh, bulk sampling proves this to be closer to 3 grams/ton. So, what is the historical grade of DRILLING at Snow White to date, albeit it's only 1 hole reported with the drill... Oh yeah, 3.something grams/ton.
ORE hit $3.77 today. What will Golden be at when it can PROVE up it has 100 million tons of rock and the grade is at, say, 2 grams per ton... Oh, I know, I know. That gets us approximately 6 million ounces of gold. Hey, that's more gold than Orezone and they have to mine less rock to get it... oh, I almost forgot, you don't have to wear a double thick kevlar vest to work in the mine or transport the gold either... at least, not YET in Canada................
Just a few thoughts to chew on...
Oh almost forgot to mention, gold is currently at $1391.80/ounce... GO GOLD!!! Yeah!
Herb :-}