5-10 M OZ - Hype or reality?
Deadbull, you asked where did I get the 5-10 M oz figures.
It come from Barramundi Gold Longline Project 1998 Brochure put out by the company.
I quote from that here: "..project area has potential to host at least 5-10 M oz of gold..".
On what basis is this claim made?
Area has been subject to "bulk sample" operation (see tailing value figures in previous message), and Barramundi has done geo-magnetic study which confirms extent of "Swede pit" veins and indicates high levels of sulphides over large target area (associated with gold deposit). I do not believe that this has been followed up with a further more extensive drill program, but the idea of the trial mine is to get cash to enable this to be done.
If you have followed Yukon mining history, you will be aware that most gold taken out of the area is from placer operations and Yukon has very high placer/hard rock extraction ratio as so far the source of the Yukon gold is still undiscovered.
Bob Burban (Barramundi CEO and Geologist responsible for discovery of worlds largest cryptocrytaline magnasite deposit) has some very interesting idea's on Longline gold which are explained in a video of areas geology that Barramundi has recently made (I haven't seen this yet only heard about it).
His ideas are backed up by recent research on the "tintina fault - Eskay Creek/Mt. Morgan" model which has been backed by some big discoveries on the northern side of this fault (which is displaced by 450 Km from southern side).
If you go and do further research on recent peggings on the Alaskan side of the Longline quartz bands, then you may find some interesting things...
A rumor that Newmont is sniffing around these area is around and I have posted on another board to see I could get any info on Newmonts activities in Yukon as come up with nothing so far.
If you have any further info to contribute, it would be much appreciated.
I am bullish about BAM for all these reasons, but as you are no doubt aware since Bre-X fiasco and POG drop it is very very hard for jnr gold miners at present.
This is my motivation for posting info/sentiments on BAM, because unless there is interest and support from shareholders and investors, then all that potential is worth nothing.
Needless to say I have a shareholding in BAM, but believe that it is only by discussing merits of work done and geological significance of exploration targets that interest in BAM will increase.
This low key attitude is apparent from BAM management, which sees no point is causing big hype, which if not furfilled will only to be its detriment in the long run.
Only time will tell. |
