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Message: Comparison of effort on Hercules to Eleanore

Comparison of effort on Hercules to Eleanore

posted on Dec 01, 2009 04:28PM
Below are numbers for the Virginia Eleanore Project acquired by Goldcorp. 
The Acquisition closed in March pf 2006.

Comparing Hercules and Eleanore directly would be akin to comparing apples and oranges.
But comparing the scale of effort put into Hercules with Eleanore might give an idea of the potential.
We know explorationguy has his model and is quite pleased with the drilling.

Eleanore 207,000 meters of drilling vs Hercules 67,236 in 2008 and 17,100 in 2009
Eleanore 3 years of drilling vs Hercules 2 years of drilling
Eleanore percentage of drilling by Virginia Gold Mines 50%
Eleanore depth of resource estimate 1000m (Depth Virginia explored 800m)

Virginia drilled a total of 85,900 m from Sept 2004 to November 2005.
62,900 m was on Eleanore and 23,000 m was on other regional targets.


From the 2007 Resource Estimate by Goldcorp for Eleanore:

http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingOrig1?SessionID=uc-dWLMxNqDtpsV&ID=5360720

"The first samples from the Roberto zone were collected at the end
of the 2003 program and were further investigated by trenching during the summer
of 2004. Drilling began in September 2004. To the end of June 2007, over 207 km of
drilling have investigated the gold mineralization in the Eleonore gold deposits."

Resource Category Indicated
Tonnage (tonne) 7,709,500
Gold Grade (gpt) 7.40
Contained Gold (ounce) 1,834,900

Resource Category Inferred
Tonnage (tonne) 4,059,000
Gold Grade (gpt) 7.12
Contained Gold (ounce) 929,100

"In total, between September2004 and November2005, Virginia
drilled 247 boreholes for 85.9 km of NQ core, including 23 km on regional targets"


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