Yes, grade usually declines as a mine ages. BUT...

In the case of the Copper Queen at Bisbee 15 miles SSE of Hay Mountain, ore in the early 1880's ran 22 percent copper. Then, grades increased slightly as new pockets were found closer to the surface. By 1902, portions of the mine were returning 15-33 percent copper. (Weed - Copper Mines of the United States 1905).

Then in the 1950's operations continued from an open pit, and grades dropped into the 4 percent range over the next 10+ years. The mine closed in '75.

My point is, high and/or bonanza grades in the years following discovery do not have to mean that grades fall precipitously immediately following the start of production. Certainly with modern exploration techniques and drilling, miners do not have to "drift" underground along lines of suspected mineralization, but can go for the highest yeilds possible right off the bat, should that be their wish.

So, IF we have economic mineralizations at Hay Mountian, should we not expect at least something between the 4 percent from the later years of the Copper Queen, and the 0.0047 percent at the nearby Rosemont (for the early years of production)?

Again from NR200, and by an outside consultant, the Hay Mountain gossan, "...could be positiioned above high grade copper mineralization." High grade, by the way, usually means 2 percent copper, and above.

...just killing time. Do your own DD, and never put money into something you don't understand. That's a Warren Buffet rule, and it's worked for him.

VP