Revisiting Windfall
posted on
Nov 06, 2008 03:38AM
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)
Lots of good discussion about Windfall....a few of my observations:
First....I thought the news from October 21 was pretty damn good...or am I not interpretting the data properly...this is the way I see it...
F-11 Zone......."the gold zone was exposed for a total horizontal length of 32.5 meters before it wandered into the drift walls. Average grades from the muck samples was 3.95 g/t gold over the exposed zone's length.
F-17 Zone....."the zone was exposed along the total 102 meter length" and "A 20 meter length along this zone averaged 2.34 g/t from the muck sampling." and "significant waste inclusions in the zone"
Keeping in mind the following quote "Considerable dilution in the muck sampling is experienced as the 4.0 meter-wide round exceeds likely minimum mining widths experienced during actual mining for production"
Keeping in mind that this is also close to surface
Keeping in mind that we have yet to get the samples back from the W3 Zone (hole 100)
Now some interesting things about this news release....the way I see it
The news contained certain statements, which to me, made a profound inpact on the news as a whole....such statements as the following: see the negative undertone.....
"it had been difficult to combine drill intersections into continuous zones that may be amendable to development"
"chip sampling was unable to estimate the contribution that this gold is making to the overall grade."
"The dump samples consisting of 8-10 per round are considered to be less reliable due to loss of fines by drying, washing by rain and sorting."
"At the W-3, the zone follows a multiple set of cross-cutting fractures creating a very erratic distribution of the gold values and discontinuous gold-bearing, stringer-type mineralization."
"Management proposes to pause the exploration program to allow for completion of all assaying, metallurgical testing and a review of progress todate. The Windfall Lake property, including camp and ramp facilities will be kept on a care and maintenance basis during the forthcoming winter months."
"An economic evaluation of the property's merits and potential for the shareholders is the primary consideration to be addressed. Recommendations for future exploration at Windfall Lake, after all work currently underway is completed, will be submitted for Board approval if the latter is positive."
And all this after... you know who ...made statements suggesting Windfall to be a waste of money
The final interesting part of this is... who now gets involved....parties from gold companies.....very high profile gold companies
You are welcome to draw your own conclusions