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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Ron Struthers who wrote (2664)2/20/1997 1:46:00 AM
From: Eric Tai   of 35569
 
Ron,
In your latest report for IPMC you said that IPMC will need a few more
confirmation drill holes to prove the 12.5 million oz gold in the first grid. But I remember that if you want to change the resource category into proven reserves category you need to drill in 20m by 20m grids. I remember Misty Mountain was also drilling in 20m by 20m grids a few months earlier to prove up thier reserves as well.

If that is the case, then for the first sq. km., you will need
51*51 = 2601 holes to prove up the reserves. So subtracting
the 121 holes they already drilled, they need 2480 more drill holes to prove up their reserves. That's quite a bit of in-fill drillings.

Am I missing something?
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