GOZ .... From the NR yesterday...
"To date, all drilling reported has been from holes drilled on 30 metre spacing. In mid-November one drill rig was assigned to in-fill drilling at 15 metre spacing.
A total of nine infill holes have been completed and results will be provided shortly.
The Phase 1 program is testing approximately 10% of the prospective target areas at Bjorkdal. Infill drilling will enable a resource calculation that will become part of a Feasibility Study planned for 2007."
The "footprint " of the 2006 Phase 1 drilling program falls within a corridor measuring 600 m long by 120 m wide and 75 m high.
At a SG of 2.75 tons/cu m, the tonnage is about 15 million tons, consistent with the area contained within the 43-101 area by Wardell et al in 2005.
However, the area defined by drilling todate..to the best of my knowledge is 350m by 120m by 75 m or about 8.3 m tons.....ie they have advanced about 60 % along the north side of the open pit.
Given the info in yesterday's news release,the width has certainly increased to 135 m or more,bringing the volume to 10 million tons.
The intent is the definition of additional resources under the present high north wall, bring those inferred resources into the M & I category and then economically mine these resources to provide cash flows will fund both resource expansion and regional exploration.
Given that the Phase 1 program is testing approximately 10% of the prospective target areas at Bjorkdal , and that the volume in Phase 1 is at least 10 million tons, and could be as high as 15 million tons, the total prospective area for gold at Bjorkdal is at least 100 million tons and could be as high as 150 million tons.
This volume is as large or larger than that of the " super pit " V.OSK ( 85 million tons ).
Further, the large til/bedrock database along with the 11 auriferous gold targets within a 5km radius of the current open pit.....most will drill data showing significant gold and a couple with 100,000 oz of gold already defined....and with the 2006 drilling data showing that gold mineralization remains open to the north..offers a real possibility that GOZ will prove up a resource of 4 million oz , which would likiley include a super pit expanding both north and south from the current pit.
stockhouse.ca
KEYWORD:
CRACKER |
