Latitude Minerals LTU.V Message Board

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Gold/Mining/Energy : Latitude Minerals LTU.V

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To: Spiney who wrote (39)	6/11/1998 8:52:00 PM
From: Joel W. Grothendick	Read Replies (1) of 366

Hi Norm, >>Do you know the difference between "reserve" and "resource"?<< The differences can be confusing at times and there are some fine lines between definitions and interpretations. Basically, there are 3 categories of "reserves". 1)proven, 2) probable, 3)possible 1) proven - material for which tonnage and grade are computed from very detailed sampling and measurement that are so spaced and the geological character so well defined that size, shape and mineral content are established. 2) probable - material for which tonnage and grade are computed partly from specific measurements, samples or production data and partly from projection for a reasonable distance on geological evidence. Where measurement and sampling are too widely or inappropriately spaced to outline the material completely or to establish its grade throughout. 3) possible - material for which quantative estimates are based largely on broad knowledge of the geological characteristics of the deposit and for there are few samples or measurements. RESOURCE - mineralization based on the geological evidence and assumed continuity. May or may not be supported by samples but is supported by geological, geochemical, geophysical or other data. The Blue Hill Creek property has a "Drill Indicated Resource" A little more drilling and we should be in the Probable Reserve catagory. It is my understanding that the resource numbers to date may very well only be a fraction of the potential of this property (open 3 directions and to depth). As these numbers are increased and the category upgraded it can only add value to LTU imo. A little luck and maybe they can find a good feeder. As far as majors in the area I'll have to dd a bit more on the area and will get back to you. It should only be a question of when not if people catch on and take notice of lattitude and the value they are building in this buyers market.(imo) I consider the svb as a wild card kicker for ltu and see the acquistion of Blue Hill as the beginning of an intellegent, value based on assets, business plan. Not to take away from the potential of the svb properties but that I feel is much more speculative than Blue Hill. Still pumped, Joel

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