From M D and A out on SEDAR:
Is one to assume that any funds from the sale of the 500tonne bulk sample product was used for the subsequent drilling program on the property (as indicated below) , as I am not able to asceratin this from either the MD and A or the financial statements ?
Cheers,
Luker
Gaspe Bay Group (Robidoux) Property, Quebec
A 500 tonne bulk sample has been collected following favorable metallurgical test results from an initial sample of 5 kilograms from the A zone vein. This initial sample, comprised of quartz vein material was sent to the URSTM (Unité de recherche et de service en technologie minérale) laboratory in Rouyn-Noranda to test for gravimetrically recoverable gold. The head grade of this sample was 31.54 g/t Au and 8.9 g/t Ag. The free gold recovery was 86.1% for gold and 70.3% for silver.
A drilling program was also recently completed on the Robidoux property. A total of 795 metres of NQ drilling in nine drill holes was completed on December 10th
, 2014. The program tested the A Zone vein to vertical depths of 35 to 155 metres, and a splay fault hosting a feeder vein to the A Zone to vertical depths of 30 to 70 metres. The A Zone vein was intersected in all 5 holes drilled on the vein, with true widths estimated to vary from 10 cm to 0.8 metres. The 4 holes drilled on the splay fault feeder zone showed a complex relationship of folded and faulted veins, vein fragments and stockworks and breccias within
5 -
graphitic to silicified siltstones to mudstones locally showing cataclasite textures. Visible gold was observed in these four holes, particularly in samples showing crack and seal textures. Drilling on this structural corridor was over a strike distance of 80 metres and across widths in the order of 5 to 10 metres. Core recovery was poor in some intervals, particularly closer to surface. The high grade quartz boulders reported in the news release of October 22, 2014 appear to have originated from this splay fault feeder zone.
