Based on ECU's 2008 resource report it looks like ECU will eventially prove up over 5 million ounces of gold. Mine discoveries with this much gold have been rare over the last 10 years and show up on the radar of even the largest gold majors. Below is a table which tabulates gold and silver quantities for MI&I, minimum potential, maximum potential and the MI&I plus either min or max potential. Will ECU eventially move all these gold ounces into the measured category? I believe the ounces are there and then some. I think we have only scratched the surface of the massive sulphides. The table also shows that the current value of gold is almost as much as the value of silver at current prices of $1080.20 and $16.19. Regards.
| Category |
Gold Ounces |
Silver Ounces |
Gold Value |
Silver Value |
| |
|
|
|
|
| Measured, Indicated |
|
|
|
|
| and Inferred (1) |
2,052,000 |
151,528,000 |
|
|
| |
|
|
|
|
| Minimum Potential (2) |
3,793,838 |
277,499,807 |
|
|
| |
|
|
|
|
| Maximum Potential (3) |
5,775,021 |
468,169,196 |
|
|
| |
|
|
|
|
| (1 + 2) |
5,845,838 |
429,027,807 |
$6.315 Billion |
$6.946 Billion |
| |
|
|
|
|
| (1 + 3) |
7,827,021 |
619,697,196 |
$8.455 Billion |
$10.033 Billion |
