Drill Hole Inconsistency
posted on
Jan 29, 2008 09:18AM
Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.
Well if we are outing geologists today I'll declare as well. I graduated in 85 and have considerable experience in gold exploration/development with a couple of majors in Canada, the US and South America, and to a lesser extent some base metal experience. Since the mid-90's I've been involved in other stuff.
I have only seen the summary drill hole results in the news release so I'm only guessing as to what went on in hole 8.9 and specifically 11.
None of these drill holes nor any drill hole is homogenous. Grades depend on the type of host rock, the extent of fracturing of the host rock (brecciating) and the flow of fluids through them at the time of mineralization and after. Its also possible that there are lens (meters to 10s of meters in thickness) of non-mineralized intrusive rock in the deposit and we drilled into one of those. So within the drill hole there will be areas of no mineralization and areas with higher grade. In the same way these conditions may work in 'our' favour and you end up with a highly mineralized section. In 3 dimensions there will be zones within zones. So expect variation within and between drill holes.
As to hole 11, they are reporting a composite of 199 meters of drilling in which we know at least the end is unmineralized and would imply lower mineralization in the rock adjacent to it. The blend is .32 g/t Au. I’d be happier if it ended in mineralization but it isn’t something I’m worried about.
With the diamond drill on site we will start to get a clearer image of the geometry and stratigraphy of the deposit. Don't expect the actual deposit to look like the composite model they have on the website. The basics will be there (a feeder system, a sulphide zone, an oxide zone etc) but how big, how intense, how deep, shape etc won't be known until we have deep drilling. The models always look so nice and clean but in the field its never that clean. Even the drill based model will change as they start to mine it.
In amongst the release there is lots of good news as well. The four key ones are that we know mineralization has been tested at 175 meters depth (50 meters more than before), that the zone extends to depth at least another 200 meters along strike to the east of what was previously tested, that there are sulphides at depth and that we have diamond drills on the property to test the depth.
Things are looking good and I like the pace that information is coming out at so I intend to sit tight on my holdings and see how things develop over the next year.
... Been There