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Gold/Mining/Energy : Winspear Diaminds (Bulls Board)
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To: Chad Barrett who wrote (74)2/1/1999 5:37:00 AM
From: E. Charters  Read Replies (4) of 1172
 
I am not sure I can easily assess the statistical significance of the results myself. I know that it was a total diamond count and that there were 44 diamonds greater than 1 mm sq in about 59 holes that hit kimberlite. I noted that the tonnage was fairly low, about 1200 Kg.

Now I don't know at all what the caratage per hole was. I also do not know if a correlation between small diamonds and large diamonds can be made. I also do not know if any individual hole and its diamond count can be extrapolated back to a grade figure that would tell you what the total grade would be if mined, even if some kind of chemical or statistical count figure can be adjudicated. The threshold values of determination may not be present in each hole. What is more, it is hard to imagine what the relation between small diamonds and large diamonds is. What can you really say about it? Is the existence of the three larger diamonds in the drill holes merely a statistical probability due to the amount of kimberlite taken or did they report to some more favourable area? Is the variance per hole related to large scale variances that we know occur in Kimberlites or is it haphazard?

In order to answer these questions one needs more detailed data and perhaps additional types of tests to correlate. If the deposit exhibits high variability in large stones then it may not be that economic.

Such a small deposit actually may waste much money in testing. In effect the only way to defray exploration risk in these kind of trials is to have more than one horse running. 20 million has been spent already and it is really just teaching the company how to explore for diamonds.

EC<:-}
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