Re: My AGM Experience III
in response to
by
posted on
Jun 07, 2010 09:08AM
New Discovery Resulting in a 20KM Mineralized Gold Belt
Great posting Brad...Thanks
You asked: "He was referring to the potential economics of this deposit and he said something kind of like this, 'In the entirety of my 40 year career, and I've travelled all over the world and seen all kinds of incredible and interesting geological deposits etc, I have never seen anything like this....and some people may say that just means I haven't seen all that much. (the last part was a joke).
Is this what I heard? For anybody that knows Tilsley (I don't know the man that well, but I've done my homework), this seems like a fairly powerful statement, no?"
I'm not sure I was in on the same discussion while we were in the Beauce/Belle-Chasse area but what I remember Jim Tilsely saying is...my recollection... This is the largest gold deposit I have ever seen and possibly the largest deposit in the world.
He also explained that a 43-101 type evaluation would say the grade is about 2g/tonne while he believes the grade is actually much higher...approaching 4-5g/tonne on average.
Apparently the discepency lies in the fact that the deposit contains nuggety gold that is randomly distributed and would be impossible to evaluate accurately using traditional methods.
On the subject of "DEEP DRILLING" I agree with Scott (Yukon Cornelius) that GNH should soon drill down to 1000M. I believe I have heard management make estimates of tonnage that are using the assumption that the gold is present to a depth of 1000M.
If they want to continue with these estimates they need to back it up with deep drilling otherwise these estimates are misleading.
I understand the logic that the money is better spent expanding the deposit in all directions. However sooner or later they need to do some deep drilling or stop making estimates based on 1000m depths.
Jim Tilsey is a very experienced geologist and after meeting him I was left with the impression that he is an honest and credible person. He could be golfing instead of poking around in the Eastern Townships. He was retired when he got a call to discus a report he wrote on GNH from 10 years earlier. Because it is such a promising deposit he came out of retirement to head up the exploration team.
I would bet a considerable sum that Jim is right that the gold extends to 1000m.(In fact I already have based on the number of shares I hold). However I will be happy to see the drill results that back up that statement.
Continue to do your own DD. Go and visit the property as several of us have already done. But you ignore this company at your own peril.
SN