I'll call tomorrow if they can release that current basis cash figure. I have been just given permission to scrape private writtings that we have had within the last month on the Trombalas Hectres by our local IPM Geologist ( well today he said he is busy writting on/up his Thesis for his PHD in the field. Terry Christopher was the Newsletter Writer awhile back on his native-backyard Voisey Bay Plays. Well here is our combined effort at Due Dilly, there is /are more answers that Terry Christopher wants me to find out about but I believe the DEPTH question is resolved based on my conversation with IR 2 days ago. The scraped news release and Terry's summaries are interwined but can be easily seperated in your reading! Thus I submit a geologist initial review:
> Hi Chuc;
>
> Just back in town thus the late reply.
>
>
> > It is a fly in area - no utilities- you said before that this is a
> negative,( This is changed now / with 50 miles
> > I believe, so with 6 /OPT is it now mineable at a profite, this is run
by
> > the son of Cusac Pres Brett...and holds office there!!!Chuca> >
>
> T.C.:
> 6 opt is excellent.
>
>
> PBM News:
> > High grade gold in quartz appears related to abundant veining,
> > vein swarms and stockwork zones within pervasively altered granitic
> rocks.
> T.C.:
> This is positive as well. Important point here are;
> 1. is all the veining mineralized? Looks to be, YES, from the above
> description. Could be several different ages and, thus, might not all be
> mineralized.
> 2. What is the arial extent of the veining and stockwork zones.
>
> PBM News:
> > Samples of the altered granitic host rock are highly anomalous in gold,
> > assaying up to 0.5 g/t. Mapping of the recently established 34(42?)km grid
by
> > Pacific Bay's geologist traced three parallel drainages extensively
> worked
> > by Garimpeiros over distances of 1km to 2km. The gold-rich workings
> strike
> > northeasterly and likely reflect major structural trends. Soil
> geochemistry
> > results (all samples taken at 1.5m to 2m depth) show anomalous values
up
> to
> > several hundred metres outside the area of the workings, confirming
that
> > gold mineralization is not confined to the workings. The trend of
> anomalous
> > soil geochemistry results suggest multi-directional veining and
shearing.
> > Very large volumes of alluvial quartz and altered granitic rock within
> the
> > garimpeiro workings (up to 100m wide) are further evidence of a
> significant
> > stockwork system. Sampling and assaying of the garimpeiro tailings
> continues
> > to show very high gold grades. The volume of this material is
> economically
> > significant to Pacific Bay and future work will include testing and
> > measuring of this large potential resource.
> T.C.:
> This is the stuff i like. Potential sizes of mineralized soil plus
> potential tonnage in old workings. Gold really only made a big price
move
> in the prior 20 years (?) when it was $40-$50 (?) an ounce (I could be way off here
-
> had a chart one time ). When was this stuff mined?
> PBM News:
> >Assays of tailings material
> > sampled during this survey, have returned strongly anomalous
> gold-in-stream
> > silt values up to 1.163 oz/t Au. Pacific Bay believes that a greatly
> > expanded exploration program on its Trombetas gold property is now
> > warranted, including: Widening of existing airstrip to accommodate
larger
> > aircraft; Expansion of soil grid area; Vibracore drilling to sap-rock
> and/or
> > bedrock horizons in anomalous areas; Systematic geochemical of
tailings;
> > Trenching of anomalies, workings and showings; Diamond drilling.
Pacific
> Bay
> > aims to complete the above work and commence drilling within 1997" End of Company news release a few months ago." Chuca
> > Terry's Comments:
>
> This is very interesting in that drilling seems to be going ahead without
> any geophysics. I got nailed in this type of play before and learned some
> lessons I would seriously consider asking management why no
> geophysics which can point to potential mineralized areas at depth if
there
> are not present.
> T.C.:
> In conclusion. This is much better than before. Negatives;
> 1. what is the average Au grade (up to 5 opt only tells you the range to
> the outliers and Au is problematic in that highest grades are normally
> found at surface.
> 2. I really don't like the fact of no geophysics.
>
> Regards
> TC
> End - Now we have several questions. I hope that the goephysics question is resolved because of the IR stating that the top surface above the bedrock is mineralized, that the overall average is one-sixth OPT on probably average, ( No HYPE here!) ( See the THE 6 /OPT trench /auger samples at surface!), and the other questions! ???
Chucau
I visited 2 mines last month that had portable generators running geophysics machines( off Vans and Flatbeds), I do believe, in 110 Degree plus conditions with 14 gauage wires run out like a spider over football field ( American Folks) sized ares! It is easy to set up this process of Geophysics Survey, all ya need is the money! Chucaupinion!
>
> |
