Average grade looks great but want to call to see how it's computed. Trenching looks more interesting and could have the biggest impact late spring/summer when more detail comes in from those new zones. Company is always very conservative so if they plan on having 2.4 mil ounces after next resource release should be a floor vs a high end target. New estimate likely this summer.
finance.yahoo.com
Veins range in grade from 0.50 to 60.5 g/t Au and up to 88.75 g/t Te, with an average grade of 6.50 g/t Au over 6.09 metres (Table 1).
Trenching & Prospecting
Channel sample data from the RC Soccer Field Trench, located on the south face of the 850 West Zone ridge, has confirmed very high grade gold assays from seven different intervals (Table 2; see website for plan map). Abundant visible gold was reported from this target area. Several continuous high grade intervals include: Channel RC-2, grading 8.0 g/t Au across 4.50 metres; channel RC-3, which contains 16.4 g/t Au over 13.5 metres, including 24.0 g/t Au over 8.5 metres and 268.0 g/t Au over a half-metre interval; and channel RC-6 with values of up to 8.4 g/t Au over 7.5 metres, including 13.3 g/t Au over 3.5 metres. The RC Soccer Field trench corresponds with the surface projection of Vein 10.
Regional prospecting has also located high-grade gold samples within the following target areas - the Pascal, Castor, Boomerang and Knight mineral occurrences. As previously reported, up to 66.5 g/t Au was discovered in quartz-tourmaline veins at the Pascal showing, 500 metres west of the 850 West Zone. Rock samples taken in the Castor area, located immediately south and east of the 450 West Zone, assayed 10.15, 13.0 and 30.5 g/t Au with accessory tellurium (Table 2). Recent channel sampling (2011) from the Boomerang area confirmed high-grade gold at trench CW15, where mineral values range from 6.89 to 17.4 g/t Au and 6.84 to 20.5 g/t Te, within quartz-tourmaline veins located one kilometre east of Eau Claire. Two rock samples taken this year from the Knight prospect, located 15 kilometres east of Eau Claire, assayed 13.2 and 17.4 g/t Au (Table 2, see website for map).
Regional exploration to date on the property has defined several high-priority, drill-ready targets, located well outside the limits of the Eau Claire gold deposit. Historical and current prospecting and trenching are responsible for the discovery of a number of significant regional mineral occurrences on the property, which have not yet been drill tested, including: Pascal, Natel, Vanna, Serendipity and Knight. Additional trenching and definition drilling will continue in 2012 to evaluate these target areas and to test the resource potential of the RC Soccer Field Trench (see website for maps and photos). |
