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 : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Mazzarella who wrote (1387)	3/25/1998 9:07:00 AM
From: Mr Metals	Respond to of 34075

Dear Richard, Let's just wait and see what the news will be. Mr Metals

To: Richard Mazzarella who wrote (1387)	3/25/1998 9:16:00 AM
From: Char	Respond to of 34075

Richard I think I read that these assays were spread over a large area. After they get the results of these assays they will know where to do the next drill program. Hopefully the next program will have the holes drilled close enough to establish some proven or probable reserves. Just my 2 cents worth. Dave

To: Richard Mazzarella who wrote (1387)	3/25/1998 9:23:00 AM
From: Michel Grenier	Read Replies (1) \| Respond to of 34075

Hi, Richard. I am not a geologist, but I am quite versed in statistics, so I will try to answer your question. 1)We are dealing with a large area and a large volume of material 2)Gold is usually not distributed evenly 3)The characteristics of the area/volume are also variable in terms of their mineral content 4)In order to assess proven reserves , you must have essays that are taken at intervals close enough to assume geological continuity between them In a homogeneous mass, few essays widely spaced would do the job. But, in a case like this one, 1000 essays aimed at estimating proven resrves could only cover a small portion of the property because they will have to be tightly packed in an area that is small relative to the overall property size. Since they cover a small area, you will have good estimates of what lies in that small area because your estimates will be fairly accurate on concentration for that area (your samples are dense enough to cover all the varying concentrations present), but it will say nothing about the rest of the property. So, the proven reserve figure will reflect only that part of the property and will be relatively small. Therefore, I would agree with Mr. Metals that proven reserves will not be spectacular at first. As the property is developed and more money is invested in further sampling, we will get more and more data on the rest of the property and the estimate of proven reserves will vary accordingly. Michel

To: Richard Mazzarella who wrote (1387)	3/25/1998 11:26:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 34075

<< Metals, I'm confused. I understood from this thread that there are a 1000 assays ready to be released. If that can't prove, or disprove MM oz, I guess that I don't understand anything that's posted here. >> Richard, 1000 samples is very little. Think about a drill hole that is 100 meter deep and will be assayed at least every meter..that is already 100 samples. 1000 samples can help establish a inferred resource at best, unless they are concentrated in the same small area. In that case they could help prove some ounces. But I am talking small samples here of a few grams each. If these 1000 samples were spreaded all over the property and weighting a few tons each, then this is a new ball game...and we can get pretty good estimates with that. So the coming release will tell us a lot more on where they are in the exploration process. CC