Claude, I made a post on Kitco to someone that believes the MINE numbers don't add up. I asked him to tell me why. This is his response, can you comment or anyone else? P.S. I still believe the Gold is there, don't jump on me.
Golden Eagle has done no drilling, just test pits
Yet they actually published gold reserves. This is ludircous.
Have you ever heard of residual concentrations? Gold is insoluble,
inert. As gold-bearing rock weathers, erodes, the gold remains untouched, and accumulates as a residium in the soil at many times
its real grades in the underlying unweathered rock. Every geologist
knows this. You must drill to obtain, fresh, unweathered, and
therefore unconcentrated samples.
If they just test pit, they may be sampling the gold that used to
be scattered through thousands of feet of overlying rock, now
removed by weathering. They then extrapolate the residual
concentrations throughout all the sub rock, as if the concentrations
extend to great depths. This is just not done. It is a scam.
There may be gold there, just not in the grades sampled in the test
pits throughout. IMHO |
