On the Andacollo properties, Gordon House, P.Geo., reports that the group of claims contain drilled, probable
reserves exceeding 3,000,000 metric tonnes of gold ore in the high grade veins and in excess of 3,000,000 metric tonnes in the manto structures. Reports by Malcolm Fraser, B.Sc., MA, economic geology, state the potential of one the several undrilled properties, the "La Colorada", to be in excess of one million troy ounces of gold.
Message 1049941
"Reserves of over a million ounces of gold have been
discovered, but few, if any, exploration holes have been drilled into the deposit."
The term "reserve" has legal meaning with the U.S.
Securities and Exchange Commission and should only be applied when there is a high degree of confidence that
the stated grade and tonnage of the ore and the total recoverable quantity of gold are known. Generally hundreds of exploration holes are drilled and thousands of samples are assayed before being able to define a reserve of a million ounces of gold.)
If it sounds too good to be true, it probably is.
Message 11763137 |
