Re: Inferred resource..Vanchester
in response to
by
posted on
Feb 15, 2010 02:10AM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
I don't think you get it. Please show me what tonnages are shown in an inferred category. I can read footnote 2 and I see no reference to any tonnages in that category
We are talking about the indicated resources in table 1 and 2 in both cases. The fact is they refer the reader to table 1 for Langmuir North and there is the fact that they refer the reader to a table 2 for the indicated resources for Langmuir 1. Footnote 1 is an obvious, as we can all read that these are resources and not reserves.
"Pursuant to the Micon Report, resources in the Indicated Resources category for the Langmuir North deposit are 8,324,000 tonnes grading 0.40% nickel, as detailed in Table 1. Resources in the Indicated Resources category for the Langmuir No. 1 deposit are 1,733,000 tonnes grading 0.51% nickel, as detailed in Table 2."
You for some reason reference inferred resources and point us to footnote 2? Please tell us how many tonnes are shown as inferred.
Now as per the rest of that same release here is table 1 and 2 :
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Table 1
Estimated Mineral Resources for the Langmuir North DepositCut Off Grade (% Ni) Classification Volume (m3) Tonnes Ni (%)
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Mill Incremental:
0.19 -greater than 0.21 Indicated 160,000 433,000 0.20
Sub Total 160,000 433,000 0.20Mineralized:
greater than 0.21 Indicated 2,912,000 7,891,000 0.41
Sub Total 2,912,000 7,891,000 0.41Total Mill Incremental + Mineralized 8,324,000 0.40
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Table 2
Estimated Mineral Resources for the Langmuir No. 1 DepositCut Off Grade (% Ni) Classification Volume (m3) Tonnes Ni (5)
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Mill Incremental:
0.19 -greater than 0.21 Indicated 23,000 67,000 0.20
Sub Total 23,000 67,000 0.20Mineralized:
greater than 0.21 Indicated 583,000 1,666,000 0.52
Sub Total 583,000 1,666,000 0.52Total Mill Incremental + Mineralized 1,733,000 0.51
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1. Mineral resources which are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources may
be materially affected by environmental, permitting, legal, title,
taxation, sociopolitical, marketing or other relevant issues.
2. The quantity and grade of reported Inferred Resources in this estimation
are conceptual in nature and there has been insufficient exploration to
define these Inferred Resources as an Indicated or Measured Mineral
Resource. It is uncertain if further exploration will result in the
upgrading of the Inferred Resources into an Indicated or Measured
Mineral Resource category.
3. Tonnages have been rounded to the nearest thousand tonnes
4. Sums may not add due to rounding
5. Mineral resources are inclusive of mill incremental material
6. Grade interpolation is estimated by Ordinary Kriging method.