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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: hank2010 who wrote (61609)10/13/2008 8:06:43 PM
From: E. Charters   of 78417
 
I drive a Lamborghini





I believe they had troubles with the pit bottom doing selective mining. They could not effectively chip samples it and select so their guesswork resulted in dilution.

Mineral Resources

The Detour Lake deposit contains an estimated measured and indicated gold resource of 4.8 million ounces and an inferred gold resource of 3.0 million ounces, using a US$575 per ounce gold price. The resource estimate utilized the concept of a large-scale open pit covering an area of approximately 2.5 km long by 1.0 km wide and 600 metre deep. The optimization study produced one large elongated pit with the bulk of the higher grade gold mineralization located inside the pit shell occurring as narrow, eat-west trending, sub-vertically dipping zones contained within broader mineralized envelopes. Current projections on strip ratio assume that all material below 0.64 g/t is waste and indicate a strip ratio of 6.1:1. At a higher gold price of US$700 per ounce, the pit shell contains a measured and indicated gold resource of 6.0 million ounces and an inferred resource of 4.0 million ounces of gold. 2007 Mineral Resource of the Detour Lake Mine Property, based on a gold price of US$575 per ounce (equivalent to a cut-off grade of 0.64 g/t gold) 


Resource Category      M Tons      Grade g/t-Au       K Gold Ozs)   
Measured                 19.7       1.93               1,221 
Indicated                70.2       1.60               3,610 
Total (M&I)              89.9       1.67               4,831  
Inferred                 63.3       1.49               3,025


Notes: (1) The mineral resources are classified as measured, indicated and inferred, and comply with the CIM mineral resource definitions referenced in National Instrument 43-101. (2) Base case assumes a gold price of US$575/oz gold and $US exchange rate of $1.12. (3) Mineral resources that are not mineral reserves do not have demonstrated economic viability. (4) The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.
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