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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: zarman who wrote (2914)11/21/1997 5:57:00 PM
From: Jesse  Read Replies (1) of 7966
 
zarman, some comments re. your post about interpreting ACA results:

These are the words of an expert in the industry--

"It's too early to tell but a lot of fun to guess. However well intentioned he/she may be, Zarman is way off the mark using the 0.36cpt number to compare K-14 with anything.

To compare a new pipe with established pipes requires a mining "reserve" calculation on the new pipe. Ashton hasn't even calculated a mining "resource" grade yet. So there are two important steps to go. Each step involves a stricter cut-off standard whereby tonnes are dropped to optimize the economics of the orebody. This invariably increases grade. A reasonable rule of thumb is to take the early estimates and cut half the tonnes, that is, exclude the lowest grades.

Going back to the Ashton news release, exclude the pit samples and take the weighted average of the best three and best four holes, then take the average of the two results. This will yield a post-mining reserve cutoff grade of about 0.66cpt. Just a speculative guess so far but I suspect it will prove to be on the low side since the sampling factors during the early stage of diamond exploration tend to skew results strongly to the conservative side."

Cheers,
-J
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