Re: Shareholder Meeting
in response to
by
posted on
Mar 08, 2011 04:14PM
New Discovery Resulting in a 20KM Mineralized Gold Belt
I, too, attended the GNH presentation yesterday evening.
I was pleased to meet with Mr Candido, Sasha Asgary, Mr Tilsley and Mr Glass and they are all very pleasant and accessible people.
The much respected Mr Hoover was also in attendance, and he is every bit the same respectful gentleman in person as he is when he posts his educational and informative feedback on this forum.
Mr Candido reiterated that management's goal is to define a NI 43-101 resource estimate on T1/T2 this year and that the drill results they have been seeing have been very much what GNH management was looking for, and that the market's perception is nowhere near reflective of what is happening in the ground.
Although I am not an expert, I also enjoyed learning further about the geological aspects of the project with Mr Glass and Mr Tilsley, whom are a wealth of experience and knowledge.
I also got the impression from Mr Glass that he is very much involved in regular consulting on the project and that management is utilizing his expertise to be sure.
As has also been reported in this forum, Mr Glass reiterated his considerable shareholder position in GNH and he effectively believes that it will represent his retirement fund.
Speaking with him and with others in attendance, it is reasonable to think that there is, indeed, a likelihood that the T1/T2 and the 88 zones, all actually meet up and meld together at depth in one continuous formation (possibly 1 km deep?).
In other words, they may very well all be part of the same ore deposit or system.
Again, it should be noted that Bellechasse represents only 20% of GNH's 554 total land claims (total of 24,436 hectares).
The "FSG zone" located elsewhere on the property and named after Mr Glass, was personally identified as a drill target himself. It is already stripped and prepared for drilling and Mr Glass indicated that he is very eager to see what eventually comes out of the ground from that target.
My understanding is that with T1/T2 alone representing an unconfirmed potential of 20 million tonnes, another 12,000 metres of drilling will most likely be required to nail down the NI 43-101 resource estimate this year.
GNH's drill crews average 100 metres of drill core per every 12 hour shift, and they have been working 24/7.
It makes sense to now take a pause to review all the data and look at everything in the big picture to delineate precisely where they will definition drill next.
Sasha also indicated there will be more news out in lieu of any drilling, although he, of course, did not (and cannot) indicate when.
Thanks,
-Dragon50