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Gold/Mining/Energy : ARP - V Argentina Gold
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To: Claude Cormier who wrote (569)10/23/1998 4:11:00 PM
From: the Chief  Read Replies (2) of 3282
 
Hi Claude. I have to disagree here, mon ami. Most juniors will first announce a drill indicated resources first ..Geomaque at Vueltas DEl rio, Minefinders at Dolores, Cumberland at Meliadine.....and so on..

I agree. I was not clear nor concise enough, and made a blanket statement that was not relevant. However, a drill indicated resource and the liberal definition of indicated and inferred can vary immensely. We both know of companies that have inferred and indicated #'s with little to no drilling to support it. They use liberal license with geological continuity and vary from the "rules" whenever they can.

The numbers I was questioning were the numbers Jason had presented as a resource. My statemnent was directed to them. There has been little drilling to support "proven" therefore all these numbers must be taken as indicated /inferred or a guess. My other inference is that inferred and indicated are normally extrapolated as a result of establishing a reasonable proven base or in the least, a reasonable drill grid, this lends credibility to the inferred and indicated numbers. The fact that companies take license with continuity and rediculous drill spacings to arrive at inferred and indicated is strictly shareprice pump!! It is a way of keeping the shareholder informed of progression, but inferred and indicated are only as good as, the spacing and continuity the company chooses.

I retract my previous statement, I suffered a severe brain "f*rt"

thanks Claude

the Chief
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