Ratso:
I can't forecast when a resource calculation would be possible, although some back-of-the-envelope estimates have been made, both inside the Company --these won't be published in the forseeable future-- and by others. If I named the others, I could be perceived as endorsing them, so I can't. Suffice it to say there are newsletter writers and analysts doing their own calculations for their own purposes.
I've also got the challenge that, if we look at the South Ridge gossan as a quick return mine -- which is not an unreasonable approach -- then how do we focus the rest of our exploration activities in the area? What's the market's attention?
To look at it a different way (and at least somewhat tongue-in-cheek), if we were promoters, we'd stick a big number out there (which we might even believe)and try to "sell" off that. On the other hand, if we were Australian explorers, we'd barely even be talking about what we have so far because there is not enough information to meet ASX requirements for a resource calculation. The former approach looks for the big hit and the run-up and to hell with the real results, and the latter approach causes choking to death for lack of market support. So we are walking a fine line.
As I said in the last press release, the South Ridge portion of the current drill program is "a first step" towards a future resource calculation which would be based on deeper, core drilling beginning in our fall (September / October). As a reminder, current drilling at Broken Hill and East Ridge is testing two areas which have never been drilled before.
To answer your other question, our experience is that the core assay results in Santa Cruz tend to be higher than the RC results due to down-hole settling of the heavier mineralization, as well as the lodging of mineralization in fractures, both results of the way our drill feels the chips back up the pipe. I won't speculate whether this will in fact turn out to be true at Lejano etc or, if it does, whether it will be material.
I hope this helps.
Greg |
