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Gold/Mining/Energy : Precious and Base Metal Investing
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To: jackjc who wrote (36271)11/3/2005 10:07:58 PM
From: E. Charters   of 39344
 
I drilled tails for 1000 dollars a hole, which worked out to 50 dollars a foot. That is outrageous but it included buying tools, building the drill, renting a truck, a generator, a gas drill and all living expenses. True cost of an already fingered out op would be maximum 12 dollars per foot.

The tails I referred to, at least 6 million tons worth had 2400 holes in them. No assays on the base metal. The other six million tons has yet to be drilled and assayed. Could be done for about one million. Have to do special assaying AND some metallurgical work. The other half (6 million tons) has had $250,000 in metallurgical work which was inconclusive, so I believe 500K is needed to nail down a feasibility. The other 6 million undrilled tons has had two production tests by two groups that demonnstrated the possibility of economics.

None of the work was 43-101 calibre. It all really hinges on advanced metallurgical testing to get the final answer. I favour trying as hard as possible to see if the economics of a straight gravity method would be positive. I have a hunch it might be. Flotation is much harder to do, but still cheap. I do not favour a complete polish grind as that is way trop cher.

Drill hole spacing of 100 feet may be all you need. One hole for 500 tons maybe. 80 feet gives you better info, but $ are $.

EC<:-}
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