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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Gari Rolfe who wrote (3068)	4/9/1998 10:44:00 PM
From: Gabe Heti	Read Replies (1) \| Respond to of 4718

What is coming is a resource calculation on the B.C. property from Strathcona. A resource calculation is based on limited drilling and does not have the certainty of a reserve calculation which requires closely spaced holes often as closely spaced as 25 metres. When I raised the matter of 600 holes drilled in B.C. which may be sufficient for a reserve calculation, Bob Yeoman almost indignantly said that those holes were not drilled by ANZ and therefore could not be used. Seems to me that ANZ is being properly conservative and careful in their work, analysis and announcements. I don't know what certainty one can attribute to a resource calculation versus a reserve calculation. There was a recent posting on defining the difference between a reserve calculation and a resource calculation. A reserve calculation is a near certainty while a resource calculation is not. Gabe