explorationguy, good post - Hammond Reef is one of Brian Maher's favourites. You wrote:
"They are targeting cash cost < $500 an ounce, which will factor into the grade cut-off. An open pit example referred to on the Kodiak website was Brett Resources Hammond Reef open pit project( which was bought out). They have a PEA which reports an operating cost of $ 452/oz and a grade cut-off of 0.3 g/t. http://www.brettresources.com/i/pdf/2009-12-10_HR_NI43-101.pdf "
I don't see any reason why they wouldn't use 0.3g/t cutoff, or even less. With the price of gold rising, many companies are using lower cutoffs. With that said, all the drill holes not previously counted/assayed and new infill drilling, I think it's within the realm of the possible that they'll show 3.25 million oz Indicated and Inferred, with perhaps a tiny amount of Measured.
That said, it will take a PEA to see if it's viable.
