GITENNES Exploration (ase:GIT) Message Board

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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)

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To: charred who wrote (1040)	11/9/1998 4:37:00 PM
From: E. Charters	Read Replies (1) of 1092

I agree on the elements of the boondoggle except for one fact. They do not have 200,000 ounce. They have 1.5 million. They just do not know how to prove that. I could do it. I would estimate it would take me another 5 million to do it. 12,000 metres of 70 degree angle holes in a high torque drill with casing at 5 inches in diameter at $300 per metre will prove the deposit for mining. You will cover the entire area with 40-300 metre holes and get 100% core or sludge recovery with casing. Cost would be perhaps under 5 million with one oil well type rig. The a pit could be planned for mining on a 100 metre wide deposit 1/2 mile long that should run if heap leachable in the order of 1.5 grams. It is the most feasible gold orebody in South America as it starts at the top and goes down on a simple metallurgy ore. If we could predict 1.5 grams at 100 metres time 800 metres time 300 metres deep we have 3,600,000 Troy ounces in perhaps 72 million tons with perhaps a 2.33 to one stripping ratio. I believe it is there. It would be a crime to not consider proving it to that depth. EC<:-}

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