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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: go4it who wrote (30869)	3/5/1998 6:14:00 PM
From: BillyZoom	Read Replies (2) \| Respond to of 35569

This could be seen as simplistic and has probably been brought up here before but I would just like to point out a few things about the COC results done by Bateman that were announced on Nov 14,97. For hole 181 the avg. COC FA grade of Auger samples were .022 oz/t and the avg. COC FA trench samples were .061 oz/t. We know from the IPM and Maxam experience to date that there is a problem with accurate auger samples with this type of material in that there is a loss of gold due to the gold slipping (sic) back down the hole. We also know that they have achieved much better results from trench samples. It has been mentioned that black rock basin would be stripped so isn't it safe to assume that the avg. grade of the trench samples (.061 oz/t) is the more accurate of the 2 collection methods. To put the hole 181 FA trench collection grade in perspective with the rest of the industry here are the bankable grades of some of the larger mines of Barrick and Newmont. Company--Location--Mine------Avg/Grade oz/t Barrick--Chile--Tambo Mine------0.074 oz/t Barrick--Nevada--Mercur Mine---0.053 oz/t Barrick--Nevada--Pinson Mine----0.077 oz/t Barrick--Nevada--Bullfrog Mine---0.073 oz/t Newmont--Nevada--Carlin Open Pit----------0.057 oz/t Newmont--Nevada--Twin Creeks-------------0.073 oz/t Newmont--Nevada--Lone Tree Complex------0.069 oz/t Newmont--Peru--Minera Yanacocha----------0.031 oz/t Newmont--Uzbekistan--Zarafshaw/Newmont--0.035 oz/t I realize that the FA .061 oz/t avg. grade is not the .25 recovery grade that was hoped for but in terms of a proven independent FA verification number it holds up pretty well to what the majors are currently taking to the bank. The Bateman independent verification on COC FA was no small feat for this company. It was just unfortunate that expectations for the release of final recovery process grades were placed so high by management via third party reports. My question to you Charles or anyone else that might know is that for the ongoing independent verification on COC samples are we going to see more trench collection numbers or just auger collection numbers. As well, IPM states that hole 181 and 143 COC grades "all fall within the previously announced ranges"(11/14/97). If this is accurate then what in your DD are the grades that we can expect to see from the other holes that to date are announced but are non COC verified.