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To: Rocket Red who wrote (111329)5/3/2013 11:27:08 PM
From: Claude Cormier  Read Replies (1) | Respond to of 233809
 
Yes the hole is good not fantastic as the grade is still lower side in my opinion.

In porphyries, the median copper grade is 0.46% and the median gold grade it is 0.39 g/t AU. Only 1 in 10 deposit has a copper grade greater than 0.88%. So the 1% you are asking is pretty rare fro this type of deposit. So I believe that it is high grade porphyry in that context. Statistically, 90% of the porphyry gold-copper-deposits have at least 29 millions tons.

As of today 75% of the float (pre-dilution of the warrants), that is 30M shares were purchased at average $0.70. That is a strong base of believers.

Time will tell if this porphyry delivers. If not, maybe Eldorado will.



To: Rocket Red who wrote (111329)5/3/2013 11:30:40 PM
From: Claude Cormier1 Recommendation  Read Replies (3) | Respond to of 233809
 
BTW RR,

Do you know how long it my take on average to drill a 1800m deep well in oil shales. I know it will depend on the nature of the ground. But can you put an average number?