Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ECHARTERS -- Ignore unavailable to you. Want to Upgrade?

To: Earl Pyatt who wrote (898)	10/31/1997 10:44:00 AM
From: E. Charters	Read Replies (2) \| Respond to of 3744

It seems that the basic mistake they made was underestimation of the complexity of the orebody. I am not sure I buy Spiteri's grade pronouncement. He could easily understimate the grade of many Timmins deposits on that few holes. I know the BAN hit rate was average for the camp. Perhaps a bit higher. The Echo Bay Aquarius project drilled 1500 holes to get their grade for 1.5 million ounces on Nighthawk Lake. BAN has 150 holes for 345,000 ounces. In the end a larger CO may drill another 250 with some structure determinators to get perhaps 800,000 ounces of better grade.. I would say based on the hole I looked at that they may pull .08 ounces/ton for the bulk open pit concept. BUT I would say UNDERGOUND TO 5000 feet they may really have a mine! Not proven yet.. but their grade is good on the veins.. maybe not clear when you bulk them together but I will bet they have 1.5 million ounces if you take it underground to its ultimate depth. That is a much different story. How many mines could claim that? Holmer on only 55 holes may have 450 thou of .20 ounces. BLKP may have 400 thou of .30 ounce/ton on only 50 or so holes. Gold ain't that healthy right now..may have to wait for next summer. echarter@vianet.on.ca