Bill,
Regarding the Bema article posted in Chile, I had some difficulties accessing it, see attached a copy of it for those that had the same problem. My only comment is that Johnson seems to be more open to the SA media because he is not accountable to the Security exchanges scrutiny if he can not back up every word regarding grades and reserves. Now the word "proven" is a major one that I personally still question (hole 30 in my mind did not prove this yet, is a good indicator but not ebough)
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The latest drilling results at Cerro Casale, Region III, show the existence of a gold and copper deposit that
is much bigger than originally estimated.
According to Clive Johnson, president of Bema Gold, the first studies carried out indicated a deposit with
reserves of 15 million ounces of gold. However, after new drilling on seven different sites, at over 300
metres, it has been proven that the deposit could hold up to 30 million ounces.
Johnson explained that a project of these dimensions will demand a US$1bn investment and allow annual
production to reach 1,2 million ounces of gold and 500 million pounds of copper.
This level of production could take up to five years to perfect, but during the first 18 months a more modest
production level is definitely possible.
The average ore grade is 1,24g/t and 0,4% of copper. Bema Gold owns 49% of the project and Arizona
Star Resources - controlled by Bema - owns the remaining 51%. In Chile, Bema also owns 50% of the
Refugio mine.
Source: Estrategia |
