REALITY OF OUR NUMBERS
posted on
Jan 08, 2011 09:52PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
I know that many investors are probably skeptical of Hogs, BOW,S and my numbers. They probably say "these guys should get with reality". Well, for those that say this, I will give you all the info you need to see how real this can be.
I am going to post numbers about the Capishe deposit of Exeter Resources and will draw comparisons to us so that it should be plainly seen that Our numbers are not far fetched. It is IMPORTANT to keep in mind that OUR system is a MESOTHERMAL one and the Capishe is an EPITHERMAL system. A mesothermal system containing gold will most of the time, if not all the time, carry the highest grades and deepest deposits. Also, The Capishe is a PORYPHRY COPPER-GOLD SYSTEM, we are not! These types of systems usually contain large copper deposits with low to sometimes moderate grades of gold.
The main comparisons I will be using will be the gold grades, size of this deposit and how many ounces of gold the Capishe contains.
NOTE:There may have to be 2 or 3 posts to fit everything in.
First thing, Exeter has reported an updated National Instrument 43-101 (“NI 43-101”) compliant mineral resource estimate.
The updated measured and indicated mineral resource estimate has increased in tonnage by 68% and in contained metal by 50% from the previous mineral resource estimate announced 6th April, 2010. Following the additional 20 kilometres of drilling, 80% of the total resource now falls into the measured or indicated categories. The new measured and indicated mineral resource comprises 1,316Mt (million metric tons) at a grade of 0.50 g/t gold (grams per metric ton) and 1.14 g/t silver, including 1,217 Mt at a grade of 0.20% copper. This equates to measured and indicated resources of 21.3M(million) ounces of gold, 48.4M ounces of silver and 5.3G(billion) pounds of copper (a total of 35.9M gold equivalent ounces**). In addition to the indicated mineral resource, an updated inferred mineral resource of 458Mt at a grade of 0.35 g/t gold and 0.98 g/t silver, including 449Mt at a grade of 0.15% copper. This equates to in-situ inferred resources of 5.1M ounces of gold, 14.5M ounces of silver and 1.4G pounds of copper (a total of 9.0M gold equivalent ounces**). Now ,take notice of their gold grades. These grades are low, but since the POG has been so high, companies are able to use lower cut off grades. (a cutoff grade is the grade at which the company thinks is the lowest grade they could mine before it became uneconomical.) As of today, companies are able to use resource in their 43-101,s that are as low as .20 g/t. Thats the point(0.20 g/t) you hit the uneconomical grade. CONT...........