Hello and thanks for the reply, You are right about the meat and potatoes of this story. Just that as shareholders we definitely have to be self sufficient on the spoon. God know we here have tried to be.
Now getting back to Darcel, he states on three occasions in his report that there areas in Langmuir that will support open pit operation to a depth of 200M and deeper using ramps.
I would like to ask the more knowledgable types was/is this a proper and accepted method to ballpark the estimate of what's in the ground?? If so, it could make for some fun math as we do have a lot more drill results and core on hand since Sept 20, 2007. Simple spread sheet would help do this.
Langmuir 1
The following value was obtained from drill results released by the Company in 2006 and 2007 (through Sept. 20, 2007):
The estimate methodology:
• use summarized data for each drill sample reported (L105-1 through L106-57)
• multiply core length (m) x 625 (assume each core represents an area of 25m x 25m)
• multiple volume above x 3.5 (tonnes per m3)
• multiply tonnes x 2204 to achieve lbs. of Ni containing rock
• multiply lbs. Ni containing rock x avg. Ni grade to obtain lbs. Ni per core sample
• add all lbs Ni. from all core data, to obtain total lbs.
From the above, Langmuir 1 is estimated to have total contained Ni of 48,920,961 lbs.
The Langmuir 1 estimate represents results for the East Zone only, as no significant drilling has occurred yet on the Central and West zones.
