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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: maxncompany who wrote (16485)	7/17/2006 6:37:31 PM
From: loantech	Read Replies (1) of 78410

I was referring to low grade .8 g/t or less and large open pit bulk tonnage. Not sure why Mesquite would have a cost of let's say 325 to mine and that it would be much higher in the south lands unless the start up costs are much more?? <Metates is a very large, low-grade gold and silver deposit which Cambior Inc. drilled in the past. In 1996, Independent Mining Corp. (IMC) of Tucson, Ariz., calculated a mineral inventory of Metates and, using a 0.7 gram per tonne equivalent gold cut-off, the estimated tonnage and grade was 492 million tonnes at a grade of 0.74 gram per tonne gold and 182 grams per tonne silver. In 2004, Watts, Griffiths and McQuat (WGM) prepared a technical report for American Gold that included an audit review of the IMC mineral inventory. WGM supported the IMC estimated tonnages and grades of the Metates deposit but, due to prevailing low-grade gold price at the time of the report, the mineral inventory could not be classified as a resource in compliance with National Instrument 43-101 requirements.> Can you shed some light on the differences? Many thanks, Tom

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