Welcome to the San Gold HUB on AGORACOM

San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

Free
Message: Re: 43101
2
Jul 31, 2012 12:01AM
5
Jul 31, 2012 01:29AM

.semantics, or playing with " context "...We new from June 14 th this release was a Company in-house up-date from 350,000 meter of drilling which added to the existing 43-101 done in the past. I recall from previous ACA Howe 43-101 mention to follow the american standard vs metric or to atleast standardize there reporting as not to confuse releases. Looking at this up-date we read here { Historically, resources at the Rice Lake Project were estimated using the polygonal method. More recently, with the use of AmineĀ® software, the measured and indicated mineral resource estimate is derived by creating a block model } { The resource block model was estimated utilizing inverse distance squared methodology on a block size of 3 feet x 3 feet x 3 feet ] NOW we switch to metric {

  • The mineral reserve estimate is based on a 2.7 metre minimum mining width, a tonnage factor of 11.4 cubic feet per ton (SG 2.7 to 2.8), a gold price of US$1,260 per ounce (100% exchange) and a 93% mill recovery.
  • A 5.14 g/tonne (0.15 ounce/ton) cut-off grade has been applied to deposits accessed from the Rice Lake mine shaft, while a 3.09 g/tonne (0.09 ounce/ton) cut-off grade has been applied to deposits accessed via the Hinge/007 ramp. ) now back to AMS ( Mineral resources were estimated with a block model utilizing inverse distance squared methodology on a block size of 3 feet x 3 feet x 3 feet. } now back to metric ( Assays were capped at 102.9 g/tonne (3.0 ounces/ton) for drill holes and 34.3 g/tonne (1.0 ounce per ton) for chip samples.} Now the icing on the cake {
  • Inferred mineral resources are not in the current mine plan and therefore do not have demonstrated economic viability.
  • As per section 4.2(1) J (ii) of National Instrument 43-101, the change in mineral reserves for the Rice Lake Project does not constitute a material change in the affairs of the Company. Refer to the National Instrument 43-101 Technical Report filed on SEDAR, dated October, 2010, by GeoEx Limited. } ............... in other words since this does not refere to mining plan San does not have to conform...PS:...Thinking back to the OSC report on posting 3 and 9 month intervals leaves a investor wondering which way is up and which way is down if news is never material according to the Company..

    3) Inferred Mineral Resource:

    Inferred mineral resources are determined using the polygonal method, yet the MINERAL RESOURCE AND RESERVE ESTIMATE is done by use of AmineĀ® software...Traps7

  • Share
    New Message
    Please login to post a reply