This Project Well Above Average For North American Standards.
Mining Investment Services (see Mining Journal, 9/18/98) reports the average grade for 281 early stage projects (those with some category of resource defined) in North America to be 0.031 oz. Au/ton, with the average resource containing 680,000 oz. Au. This compares well for IWA, and shows that the Majors have a lot of projects to investigate. The study above does not weed out those projects that have metallurgical or logistical problems, environmental or legal problems, or do not have exploration upside. When these factors are considered, the number of attractive early stage projects dwindles considerable.
Remember the numbers for IWA without the B.C. Vein were as follows:
Measured (Proven) tonnage 14,073,295 tons @ 0.069 oz Au/t for 971,057oz
Indicated
(Probable) tonnage 2,764,773 tons @ 0.048 oz Au/t for 132,707oz
Inferred
(Possible) tonnage 1,698,864 tons @ 0.054 oz Au/t for 91,739oz
Total tonnage 18,536,932 tons @ 0.064 oz Au/t for 1,194,831oz
Little Joe
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