From RB:
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By: mymac
Reply To #635 by RPattison
Friday, 29 Jan 1999 at 12:49 PM EST
Post # of 636
for "Barginstocker" on SI: this is what you would be speculating on...
From the Challana Assessment Report:
(a little background...)
"The Challana concession encompasses 1,000 hectares
(2,470 acres)(it lies within the Tipuani mining District). Historically, underground mines in
the Tipuani District have encountered extremely high grade gold
ores on the veneros encountered just above the old valley floor,
resting on bedrock. In addition to the high concentrations of gold in
the veneros / paystreaks, somewhat lower values are present
throughout the Cangalli Formation."
(estimated production - this was during the coarse of approximately one year...)
"Gold production at Challana since September 1997 is reported to be
on the order of 50 kilograms (1,560 troy ounces). According to
Giovanni Viscarra, the largest amount of gold recovered in a 24-hour
period (three shifts) was 550 grams (17 troy ounces) in September
1998."
if production cost estimates are correct (150/oz - 180/oz), at current price of gold, the company would profit a minimum of
$100/oz...this means that using rudimentary techniques this single addit netted 1560oz x 100/oz = $156000 in one year. at
$125/oz = $195000. and that's with an estimated 40% recovery. if reconvery were on the order of 80% (conservative, Hazen
estimated 90% could be achieved) they would have produced approximately 100Kgs = 3100ozs = $300k to $390k...using no
mechanized recovery processes.
"Recent exploration work suggests that Challana could be developed
as a small tonnage, low cost, high-grade underground gold mine.
Properly developed and managed, the project could be extremely
profitable, even at a long term gold price of US$300 per ounce."
hope this helps...toma |
