Re: Smelter Royalty
in response to
by
posted on
Nov 05, 2010 03:49PM
Back in 2005 there was a technical report on the websites of PRB and AEM.
I believe report has been removed from both websites.
This report by Innovexplo, Inc of Val-D'or illustrates cut-views of what were
considered to be two distinct deposits - the MAIN ZONE and the
GEZ (GOLDEX EXTENSION ZONE).
Picture looking at an elevation view with The Main Zone deposit starting
slightly below surface and stopping slightly above Level 6. Then several hundred
meters below the GEZ Zone deposit begins going down slightly below level 8.
The GEZ deposit is what AEM's been producing. Probes portion of the GEZ is
estimated to be 100,300 tons = 7,454 gt. or 372 g. @ 5%NSR, not including
discounts- milling, refining, marketing, transporatation costs.
Probes portion of the GEZ deposit is about 1/15th of the deposit.
The upper deposit, The Main Zone, about 2/3 rds of it is on Probes property.
This is where probe will make it's money.
The Main Zone was developed by Probe itself in the late 70's. By the time
they were ready for production in the very earlly 80's the gold price had
collapsed. Probe had spent approximately cdn$14.0 million, could'nt go
on, and ultimately Paul Penna the owner of AEM in those days came in and
paid off Probe's debts for a 5%NSR.