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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: Claude Cormier who wrote (61390)10/1/2008 11:20:45 AM
From: Valuepro  Read Replies (1) of 78426
 
Thanks to Eric for answering your questions. I can add that the model here was the nearby Ft. Knox deposit, until the present drilling program uncovered, surprisingly, an additional style of mineralization. The property hosts both volcanic and sedimentary units. On the Ft. Knox model alone, the expectation was that Livengood would prove to be somewhat larger and slightly higher in grade.

PR of May 12: "The gold mineralization at Livengood is believed to be related to a 90Ma Cretaceous magmatic event and would therefore be part of the regional Mid Cretaceous mineralizing event which produced the Pogo Deposit (5M ounces of gold) and the Fort Knox deposit (10M ounces of gold). Initial gold recovery tests indicate that the bulk of the mineralization encountered to date is highly amenable to cyanide recoveries (NR-08-06)."

PR of June 26: "The results confirm the significant resource expansion potential of the deposit, with extensive mineralization in both sedimentary and volcanic units from surface to the current nominal drill depth of about 200 metres below surface."

PR of Sept. 30: "...the broad distribution of significant gold throughout the entire host rock package and its striking geological similarities to the large world-class sediment-hosted deposits of Nevada is highly encouraging."

As to grades, here are highlights from the previous drill report:

Hole MK-RC-008 - 202.69 metres of 1.37 g/t gold;
Hole MK-RC-007 - 59.4 metres of 1.96 g/t gold;
Hole MK-RC-001 - 66 metres of 1.56 g/t gold.

Anyway, a scoping study will be out at the end of the month, or early in November - and before the final holes in this drilling program have been analyzed.
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