Last NR re assays was March 20
in response to
by
posted on
May 17, 2012 12:29PM
That's 57 days ago--8 full weeks ago. Last hole reported was BL12-159. Then in the NR re updated NI43-101 on Apr 2, it was announced that drilling had been completed up to hole BL12-182.
It seems logical that holes now completed may be up to BL12-210 or more. Some holes on the Borden Lake South (REC property) should have been completed and probably part of the 210 holes. Also, sooner or later holes will be drilled on the Nose Fold.
The next NI43-101 Resource Report (September??) could show between 8 Million oz to 10 Million oz AU
The sleeper is the silver. With silver running at about 1:1 ratio with gold and with silver predicted to be over $100/oz, sometime in the not too distant future, there could be as much as $1 Billion more value. At even half that, ($50/oz) there is enough value when added to the Gold Value to build a full blown recovery plant on the Borden Lake property.
With proven gold an silver reserves substianted by independent evaluation, financing to build such a recovery plant could be readily available. Furthermore, if the Nose Fold proves out greaterr than the original discovewry holes as is hoped for, it would make good economic sense to build a recovey plant on the property.
None of the above takes into account the Black Creek chromite reserves of some 10 Billion tonnes of very good pecentage of chromite.
Two to three year share price prospect will allow me to change my zip code. Maybe even have a summer home there in Chapleau, including a mosquito barrier (if one exists).