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Gold/Mining/Energy : Winspear Resources

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To: E. Charters who wrote (7604)	8/9/1998 12:12:00 AM
From: Walt	Read Replies (3) of 26850

EC I have a few problems with your logic here. a. What is a representative sample. A company drills some holes and hits a kimberlite dyke so they analyze the core and report the results. So many feet of kimberlite core, it weighs so many pounds and then they recover so many diamonds. The results look good so they take a 200 ton bulk sample and analize it and report the results. Thats the way its done. Certainly one grab sample doesnt make a representative sample for a deposit, nor does one drill hole or a dozen nor does a bulk sample each is a step along the way but how else is one to do it. B. Ok we have a flat lying dyke that has been tested with a few holes and bulk sampled. It seems to have a certain thickness on average and a certain dip and has been tested in several spots. You say it probably isn't mineable. What thickness do you recon is the cut off thickness to mine and what dip would you need. Im not saying this is a mine yet but I'm sure not going to say it cann't be mined either. C. Now this is a tricky one. An independent test of reported results. When should this happen. And if a company wants to keep some info to themselves are they obliged to reveal it to everyone. Diamond exploration is a secretive buisness. WSP and ABER are partners in this and while WSP is the operator Aber has input and has seen the results so you are accusing them of slopiness as well. As you know companies still exploring a large area and areas which are still open ground like to keep certain results or tests confidential to have an edge over the competition. So maybe all publicly trading companies should have to report this and have independent tests of results but that would have to take a change in the way things are done. "3 diamonds of this size do not occur in 200 ton samples.. so far on the planet it is a first... make them prove it.." Lets just say I walked up to a rick kimberlite fissure system in south africa and took a ten pound sample and found one huge stone are you going to say that is impossible. I recall reading about a fissure system which had a pocket of daimonds in the kimberlite which made the rock worth thousands of dollars a ton. If WSP took another 200 ton sample and it had 4 diamonds and graded higher what then, if it graded lower what then. Either way neither proves or disproves the first 200 ton assay. You have a dyke with good results so the company does more work. I had a gold property once and it had a vein which ran good values so I went back and sampled it some more. In all I had ten assays ranging from .25 to 1.1 oz per ton. When I averaged them all out the vein ran .65 .. I took someone on a property tour they took one sample which ran only .22 Does this mean I was lying, salting etc. If the assay had of come back 2.2 what would that have ment. How should companies be obliged to report results and what checks should be run, before me I have the OSCs "Setting New Standards" report which is suppose to answer those questions in wake of Brex but I havent had time to read it yet but they say they are looking for imput so maybe you should suggest it to them. You raise some interesting points, I dont have the answers but WSP is one of a handfull of companies up here searching so Im sure going to follow the play because I'm also picking up tips of what to prospect for. I sure wouldn't mind finding a dyke like theirs on my ground. It would be great to have a combination gold and diamond mine...it would be a first but it could happen if a kimberlite came up through a gold ore body. regards Walt

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