Last night, at the Explorer Hotel in Yellowknife, Dr. David Webb and Peter Hawley (both GMD geologists) gave a very interesting, stimulating and credible presentation on their work, to date, at the Ormsby Zone and Discovery mine site. With the help of a detailed map and charts, both geologists gave details on how they systematically went about defining the ore bodies and they described the meticulous care and precautions with which Clegg-Bondar, an independent assay group, exercised in their analyses of the GMD ore samples. Both geologists were very enthusiastic with their findings so far, and Dr. Webb opined that more gold would be found at greater depths and strike lengths. How very nice! GMD probably has more gold than what the present available data would indicate! To me, it was also fascinating to note that the bands of mineralization are like parallel "venetian blinds" separated by fairly constant ("periodic") intervals.
Dr Webb would not, for professional reasons, give an 'official' estimate of the number of ounces of gold in the Ormsby zone and Discovery mine site but reminded us that past press releases (in 1996?) had indicated 'guesstimates' of about 5 to 8 million ounces of gold. The geologists said that GMD and two independent bodies are presently performing independent reserve calculations and that all three calculations would be studied carefully before an official announcement would be announced. Peter Hawley believes that once the official result is out, a number of suitors will come knocking on GMD's door!
With regard to the Royce diamondiferous samples, Dr. Webb was very enthusiastic with the results obtained so far and he believes the source of the G10s would be found soon, on GMD ground! He confirmed that drilling for kimberlites would be attempted at freeze-up time (as early as December or January).
I came away from the meeting with a happy feeling that continuing ongoing work at the Ormsby zone and the Discovery mine site would yield yet more gold for GMD and its shareholders.
Look for a write-up on GMD in next weeks's NORTHERN MINER!.
Cheers!
P.S. So far, GMD has explored only about 20% of its properties! BTW, at the meeting the news releases on the Royce Diamond Property and on the latest Ormsby zone gold data were handed out to the audience. (See previous post for the Ormsby zone gold data).
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