I fired off a fairly pessimistic toned letter to Sasha
posted on
Dec 10, 2010 05:04PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
I basically said that some people could get the picture that GNH is holding back for some reason. A friend posed the following question: "Is this delay caused by very low drill core grades that will be suicidal to release and they are trying to get permission to use a multiplier based on bulk sampling?"
Here was his reply:
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Andy,
Nothing could be farther from the truth. In reality, I've never heard of any such calculations.
Please refer to this map while reading my response. http://goldenhopemines.com/_resources/maps/Bellchasse_Timmins_drill_update_nov_30_2010_map.pdf
What is happening is the following: When you look at the drill compilation map you can see that we have drilled a great number of holes in the T1, T2 and 88/Snow White zones. The drill holes we put down in a sequence that is numbered and were planned out well in advance. Holes that are relevant to each other are not necessarily drilled in sequence and therefore we do not get them back sequentially. We cannot speak about holes that are not relevant to each other, but rather need to paint a picture and report by zone. So for example, in the T1 and T2 zones holes 119, 124, 125, 130 and 131 illustrate that the zone extends and also illustrate that certain portions are connected. Therefore, in order to report on the zone we need to have all of the results for all of these holes in and interpreted before we can report.
In certain cases there are bits of information which are missing because we had to send samples for full pulp metallic assaying which doubles the turn around time from the conventional standard fire assay. In some cases we are missing a few samples to complete holes, in other cases we are missing larger portions of holes.
At the moment, I could not tell you exactly when we will have results. What I can tell you is that what we are looking at is a very real deposit that has grown substantially over the last 12 months and will continue to grow. I am not concerned about the viability of the project and I think that there is a tremendous amount of value that will come out. At $45MM, I do not think that the market cap is justified to be this low.
Best regards,
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Sasha Asgary
Director of Corporate Communications
Mobile: 514.347.1329
Office: 514.750.8218
eMail: sasgary@goldenhopemines.com
www.goldenhopemines.com