Welcome To the Gold Bullion Development Corp. HUB On AGORACOM
So far in 2015, three trenches have been completed in the area covering the smallest proposed pit located furthest west with channel sampling from the middle trench, TR15-11, returning 6.05 g/t Au over 8 m including 14.98 g/t Au over 3 m.
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Thanks to Deco_pxx from the other Board.
Read all of it , it is very interesting.
http://goldexplorers.wordpress.com/2010/12/01/update-on-gbb-drill-map-1st-of-december-2010/#comments
Update on GBB (drill map), 1st of december 2010
UPDATE ON GBB, 1 st OF DECEMBER 2010
Presented in co-work with Kelkka
To better understand what kind of drill data that has been presented the last couple of weeks, Kelkka and my self has begun updating a 2D map with the opportunity to make 3D conclusions. This map is going to be updated when new drill data is being presented.
GBB drill map
The map:
On the x- and y-axel you can see length and width. The Preliminary Block Model is marked by a broken line in the map. The drill hole is marked with a circular dot which can have several colours that corresponds to the grade the hole has presented. Actually, it is a multiplication between vertical drill depth and grade, so that you can see the amount of gold in that hole, but the 2D map has its limits and that is not whole truth, but as near as you can come.
Several drill holes has not been analyzed yet, because of the labs slow working pace, which is marked with a cross in the map. Above the dot/cross, the drill hole number are presented.
The status:
As you may have seen already, there are many drill cores at the labs at the moment unfortunately. But we have some very interesting progress in the north and south of the Eastern Extension going on. Hole GR-10-55, GR-10-108 and GR-10-86 was very good holes with good grades and with good vertical depths. GR-10-55 was splendid and very deep as noticed in the map (big circular dot means that it´s a deep hole and red colour means that it´s a good grade within that area).
When the labs get more analyzes done, to the north, east and south, there will be some interesting drill holes to follow,. In the north number 168 and 171 and 113 will be very interesting, to follow the vein as it may be widening. In the east, every hole is interesting, but some examples is 63, 73, 78 and 98, where the nearby 42, 44 and 17 delivered good grades at depth already. Does this continue to the east, there can be immense strike length to the east and more drilling to the east must be commenced. But as said before, the east is an open window that must be explored much more. The initial drilling that has been done now will give us a clue how it´s developing though. To the south there are some very exciting signs, for example that there seems to be more gold at depth than before. Did GR-10-86 hit the vein from Preliminary, Pit West and East that goes slightly southeast? We do not know yet, but there is something big going on down in the east. GENIVAR also wanted some 5,000 meters extra of phase 2 drilling down south, that is evidence enough for me to be very excited…
Some may have noticed that there is some small blue dots in the middle of the map, for example 18, 46, 71, 72 and 68, which seems to be some lower grade holes, producing although 0,4-0,7 grams/tonne. Note that the metallurgical study showed extraction of excess of 93 percent down to grades of 0,4 grams/tonne and there is certainly potential below that also, but with lower profit margins.
An exciting scene is developing and the next couple of months will be extremely exciting! Hold on to your stocks and do not be fooled by the stock pattern at the moment. When the stock moves, it moves fast and you will not be able to follow in that pace.
Updates:
We hope that you find this article helpful. I have noticed that people do not work their way through and summarize the news releases and take it into its context. That is why Kelkka and I have brought you this information in a map with dots, coloured ones för easy understanding.
Links:
GBB drill map as of 18th of November 2010
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7 Responses to Update on GBB (drill map), 1st of december 2010
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Fredrik says:
Nice one, thanks Kelkka and JoakimA! Do I spot MATLAB?
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Hello Fredrik!
No, there is an combination of Pylab och Matplotlib that is beeing used to get these typs of maps.
Best regards // JoakimA
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Chris says:
In your opinion, where do you see this stock in the next 6 months?
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Hello Chris!
This is almost impossible to speculate, but I will give you some thoughts:
Marketcap and classification:
GBBs marketcap 4/12-10 = approx. 100 MCAD, with potential 2.5+ Moz. You usually can say that gold juniors are valued with 20 dollars/unclassified ounce. That would give 50 MCAD in marketcap. The market is predicting heavy upgrading and classification. GBB have said that they will do a 43-101 classification on Preliminary block model in late Q1 or early Q2 2011. That would give GBB a marketcap of approx. 150 dollars/ounce (you have it on paper then and can go to the bank and they will lend you some money for construction of the mine…). That would give a marketcap of 2.5+ Moz (which is not the correct value, hopefully Preliminary is about 5+ Moz and Preliminary also 5+ Moz) times 150 dollars/ounce, which gives us approx. 375 MCAD in marketcap. If they classify some parts of Eastern also or if Preliminary shows that it´s more than 2.5 Moz, that will give us an extra boost.
With 375 MCAD and approx. 170 million shares, that would give us 2.2+ CAD/share. If we add an extra 2.5 Moz with 43-101 (to total of 5 Moz) that would give us 4.4 CAD/share, hopefully they are able to drill that much until Q2 2011?! And as I wrote to you above, the market always see what GBB is doing “outside the box” (Preliminary) and values the company twice as much as they have “proven but not classified” in gold, so hopefully the market can boost these figures by a couple of CAD more…
Good estimate:
I´m not that kind of person that can give you an correct answer, but I think I have proved that we should have at least 2.2 CAD within early Q2 2011 (May?) if only 2.5 Moz is 43-101 classified and the market forgets about EVERYTHING that is outside the Preliminary, all the drilling and all the results received… You know that this is not probable…
At least 3 CAD is my lowest guess, but I hope for 5-7 CAD (5+ Moz 43-101 classified in Preliminary and a little part of Eastern and extensive drilling with “proved” gold)…Dreams:
If 10 Moz is being 43-101 classified, GBB should be valued to 1.5 billion CAD or 8.8 CAD/share without any kind of permits for mine construction, financing and triggers like that. If GBB succeeds to open a mine with 10 Moz, they will be valued far way north from 8.8 CAD. Osisko which have 12,2 Moz are valued to approx. 5 billion CAD. 10 Moz/12.2 Moz = 82 percent. 0.82 times 5 billion CAD = 4.1 billion for GBB. And Osisko have not or is not fully valued yet! If GBB would have 10 Moz 43-101 classified whey certainly would have some PP in between, because the 10-13 MCAD they have in working capital will not last more than to New Years Eve 2011/2012. 4.1+ billion/300 million shares (130 through PP) gives us 13.7 CAD/share.
Happy gold hunting!
Best regards // Joakim
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ungern says:
Really, REALLY good, “worth reading” reply!
If one can choose, then I’d like the “dream” scenario, please.-
Hello ungern!
Hehe, there is some good possibility that we have another Osisko here, it´s a thrilling thought! Osisko is now valued for 6 billion, not 5 billion as I wrote though (14 CAD last time I checked, now 16 CAD!!). Gaah. Incredible.
Best regards // Joakim
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Joakim,
Thank you for the response! Although it is impossible to put an exact figure on where this will go, I truly value your insight. Your write-ups are among the most informative I’ve read yet!
Thanks,
Chris
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