Consolidated ARU ramblings:
7/6/06
Message 22602158
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-The best news is obviously that ARU continues to hit nice grades and thicknesses on step outs to the N, apparently as far north as line 83700 (700 m strike length now).
-Running a close second in my book, is that they hit the host volcanic package west of the mineralised fault zone at a fairly reasonable depth in hole 61, including a bit of sinter at the conglomerate/volcanic contact. This opens up possibilities for finding gold west of the fault zone in a position relatively down-dropped from the known zone. Although the PR seems to indicate that the interval below the sinter, and west of the fault zone is not gold bearing, I think there is reason to think that gold bearing rock west of the westernmost fault has been offset to the South in addition to down, relative to the known zones. I will go into this idea more below.
-Previously I speculated on the possible presence of a WNW trending fault cutting the gold zone just North of line 9583500. .....>
6/21/06
Message 22563107
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I have done what I would call an "order of magnitude" (OOM) type resource estimate for the Fruta del Norte (FDN) zone using a cross-sectional estimate, constructing rectangular ore blocks that are projected 50m north and south of each section. This is very back of the envelope type stuff, although somewhat more complex than the Cannacord model. It uses data released thru hole 06-58.
My estimated block grades are very informal, but I consider them relatively conservative. The block grades range from 1 to 20g Au/tonne. Number of blocks per section range from 2 on 9583100 to 10 on 9583400 and are of widely varying cross-sectional area. I think the greatest license I have taken so far is the projection of zones down dip to elevations of about 1000 to 1020 m.
Assumed:
- Overall dip of mineralisation = 80 degrees to the west.
- Bulk density 2.5 g/t (conservative)
Yielding the following estimates:
Line Oz Au
9583100 - 321,451
9583200 - 318,080
9583300 - 1,356,450
9583400 - 4,059,240
FDN total 6,055,220
Bona/
Las Penas 517,000* *Data from Aurelian.
(B/LP)
Total OOM est. 6,572,220 oz
Using fully diluted share structure of 33,000,000
Using $50/oz insitu Au value (my preference) = US $ 9.96/sh
" $100/oz " " " = US $19.91/sh
Playing with numbers, lets say that there is a minimum potential of an additional 2,000,000 ozs combined potential from section line 9583500 and from the ground between B/LP and FDN.
Thats 8,572,220 ozs with an insitu value at $50/oz giving $12.98/sh or $25.97/shr at $100/0z valuation.
This system looks very robust and I think that these numbers are realistic. It appears to me that this project is quickly headed towards the upper range of size for deposits of this type (Low sulphidation epithermal thingamajigs).
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