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

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To: jackjc who wrote (2632)	12/2/2005 10:19:32 PM
From: E. Charters	Read Replies (1) of 78418

Does the Leitch contain another million ounces? Well it may. At some point you have mined all the grade you are going to mine from a certain area. Since the Leitch stopped mining in 1968, we can safely say that this was not the case. Surface structures along strike appear to be similarly mineralized. Why did they not mine them? Well for one they did not own them at the time. What is more important is that each property may have that much ore more potential to find additional ore. That much has already been proven by modern exploration dating up to the late nineties. But it would take many years to run everybody's face in it. In addition it takes mining to prove the grade could profitably extracted by modern methods and withing restrictions put on mining in recent years. My far braver question is, are there 5 million extractable, profitable ounces left in the camp? They mined 5 million. I think so, based on all I have seen in similar gold camps and what I know is left in these and similar mines across Canada. Cost to extract all the gold over mine life might be 1.25 billion. About $50,000,000 per year. Total capex is hard to say. About half that I guess. EC<:-}

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