<< but IMO, it would be a TOTAL waste of time and money if they
were to assay or even 'sample' their entire property as densely as the last detailed grid. >>
IMO, the 1st grid is not even drilled enough to establish a proven reserve...holes drilled 100m (4X US STandards of 25m) apart are simply not en0ough..for the bankers. I doubt any 3rd party will sign on proven reserves with that.
<<I don't need twenty zillion assays to prove up the presence or absence of PMs across the property - if it's a homogeneous deposit >>
Based on the grades announced in June, in Feb97 and in 1995, the deposit is not homogeneous. Grades vary widely. If you want to optimize your processing plant and methods, establish exact budgets...you NEED to know exactly where your stuff is, where are the largest concentrations, the weak and the hot spots...etc!!
<< why not dig up 1 sample every 100-200 meters across four 2D lines running (say) N-S, E-W, NW-SE and NE-SW, run these through your recovery process, and then see what you've got? >>
Well how will you test for mineralization at 100 meters below surface with one sample.. But I agree with you that this is more than enough to understand the surface expression of the deposit and have an idea of how far the stuff can be found.
<<After this reconnaissance phase, you can then infill-drill as and where you need to. >>
That is the costly part... FIrst you need to drill down 100m, then assay or recover (definitely more costly, buy how much I don't know) some 60-75 samples per hole...
Now how many holes do you need?... Per US standards..probably in excess of 1500 holes per sq. kilometer.... That is a lot of drilling and sampling... Now let say they don't go by US standards and agreed with BD and Bateman that because of some homogeneity in some section allow them to drill at 50 meters (rather than 25m)...that would still be some 400 holes per sk.km and in excess of 25,000 samples per sq.km..
Rock, all this is based on how the miners do it nowadays and how the bankers want it as well... Maybe, I doubt it, but maybe the BRX is a new case..and the parties involved will ask for different things... We will know before long!
Btw, what is wrong with a lenghty and exciting drill program that provide market excitement each time a new series of holes are issued?
Sorry if I can get excited for now...I will be after the recoveries and new assay procedures are confirmed...
CC |
