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Gold/Mining/Energy : Argosy Mining
AGO 89.86-0.9%Dec 31 3:59 PM EST
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To: Marc L. Greenberg who wrote (152)12/12/1997 1:02:00 PM
From: Feline  Read Replies (1) of 165
 
I spent a bit of time looking at the drill holes. It's the amount of internal waste that's the problem. The majority of the metals are in one silicified lithology but there is poor continuity. This has negative (higher cost)implications for bulk mining as the zones have to be determined by assay. The grades of gold and silver are also fairly low and there doesn't appear to be a localised area of high grade big enough to carry the infrastructure and achieve rapid payback. The deposit is very interesting but it is unlikely to make a mine at this point in my opinion.
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