Re: I love gooooooold
in response to
by
posted on
Nov 29, 2007 07:36PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
Hi Fairchij!
I think you missed the point of my post. I just considered the new data to outline how much more gold we have now than we did 3 days ago. I only considered one hole, the one that had the highest grades over the widest interval, just to make a point.
Now I am not disputing the conceptual process to just take the entire potential strike length and multiply that by an even width and depth, plus what we hope will be the average grade, to get a potential resource. Thats nice. But it means bugger all. The conceptual blue-sky potential did not change with any of the news that was released today. And it is a long, long way from being reality.
For example, why plug in 5000m of vein lenght, as if it is all uniformly mineralized, when we only have about a kilometer that has even been sampled so far? I know it makes for nice thoughts, but its just a joke if people actually believe that is the case at this early stage. And 300m depth? The deepest hole that we have information on is only 130m, and even that has not been assayed yet. I would think its likely that the zone continues below 300m, but this is not just a dream value, I was trying to present where we are today.
And why assume its 4m average width across the entire structure? I have not gone to the trouble to look up every intercept reported so far and get an average. But just off that limited data set, Im willing to bet that the average is way less than 4m. Maybe even less than 2m. So I am just trying to be realistic in the assumptions that I make.
If you want to believe that one the basis of a few big holes we have 40 million ounces of gold, then go right ahead. People are free to make up whatever assumptions they want. I am excited as hell because the results are so good even at this early stage. I do not need to pretend that we have 4 or 10 or 40 million ounces to believe this play is the real deal.
Keep in mind one great thought: every deposit in the world, even the biggest gold find, started out as a few good holes and encouraging sampling results.
BTW, I am still waiting to hear some silver assays from the holes that were done months ago. I am surprised we do not have more info to work with on that. Maybe more upside still coming from other metals.
cheers!
mike