HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: WINDFALL RAMP BUILDING... ROSEDALE
3
Oct 07, 2007 01:54AM

Rosedale,

Thanks...

As far as I am aconcerned, meaningful results will not be anything other than the results of the ramp bulk sampling, and geological intrepretation once they get down there and have a look. As Nemis has more or less said, the ramp is now key in the succes or failure of WL.   

As you are probably aware, part of the problem with WL is the lack of continuity in the gold minerlization - lots of gold, just not so far win a with any predicable or consistent continuity. The main purpose of the ramp, is to try and get a handle of what is happening geologically by giving the geos a much larger view of the structure. Of course the bulk sampling (testing/pocessing for gold selected rock they mine from the ramp) will contribute to this, and may even generate some cash, but the sampling is not the sole objective of the ramp.

Therefore, getting back to your question, at this jucture I think it is diffcult to say when we will get "meaningful results". As mentioned in a previous NR, the need to get the requisite "surface work" done (prepartion work for the ramp) before winter, and I believe they need all approvals in place before they begin - this is what I understood from the NR. 

Thinking optimistically, if they can start the ramp this year, ideally this month, then by April we shpould begin to see whether the ramp has produced any meaningful results in terms of advancement of geological understanding/intrepretation/modelling of the gold minerlization at WL and what kinds of grades are possbile actually mining the deposit.

It is possible that the results of the ramp could result in a new round on intensive diamond drilling (from surface and from underdground in the ramp) next summer both for continued exploration and also initial resource definition based on the knowledge they gain from the ramp.

However, it was also mentioned many NRs ago that ramp consisted of three phases, and that a decision to carry on with phases 2 and 3 would only be made after phase 1 is complete and yields results sufficient positive results to justify the the other phases. Thus it is possible that the ramp project could be still continuing this time next year if they proceed with phases 2 and 3, but this would mean signicant or meaningful results would have already been achieved.

Anyway, whetever happens after phase 1 of the ramp, to reiterate, assuming the ramp starts this year, we should have either postive or negative meaningful results on WL by mid to late spring 2008.

Any pre-ramp WL drill results, although they might intersect significant gold mineralization, will not be meaningful because they are unlikley to add anything to defining or indicatiing the potential resource the way that drilling at DE will - there is continuity at DE, so the more we drill, the more we can theorize and/or conclude about the scale of a deposit there...  

Regards,

B.

 

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