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Message: Re: 2 articles mentioning gold sold
7
Aug 23, 2013 06:32PM

As you can see in the last sentence of this excerpt from the 2010 tech report, it suggests that the "inferred mineral resource" estimated by Brophy in 2008 may have been removed.That resource was around 4400 ounces estimated around 1.04 ounces gold per ton. When you add up the numbers of how much has been removed total from the C-1 Vein, from the tech report, it suggests that around 113 ounces or so has been removed. The grade of that gold looks like it will average around an ounce per ton, so if the whole resource has been removed, by one interpretation of Paul Grays words, where is the other 4300 ounces? Its unclear to me actually what Paul is saying, what does it sound like to you?

Underground Development and Mining

From February 2008 through to January 2009 the exploration focus on the Property was exploiting

the “Inferred Mineral Resource” as calculated by Brophy (2008) within the C1 and A4 zones.

During this period the A4 underground vein zone was exploited for 436 tons of vein material

grading an average of 0.78 oz/t and was shipped to the Dynacor Mill for processing and 339 oz of

Au was recovered for gross proceeds of $210,529.73. Additionally, the C1, C2 and C3

underground vein zones were exploited for 184 tons of vein material grading an average of 1.40

oz/t and was shipped to the Dynacor Mill for processing and 258.5 oz of Au was recovered for

gross proceeds of $198,756.98. These vein material shipments, and all the historical mineralized

vein shipments from Tesoro to the Dynacor Mill are detailed in Table 9-1. The bulk of the

material mined was from within the stopes and easily accessible areas of the A4 and C1

underground mines. As a function of this mining and vein material removal the Inferred Mineral

Resource calculated by Brophy (2008) is now essentially removed and precluded from verification

due to access conditions.

I believe Brophy estimated that resource to be around 4000 ounces in the section of the C-1 vein, 100m by 100m by the average width of the vein, 15 cm.

"

Therefore, tonnage = 100.0 x 100.0 x 0.156 x 2.75

an inferred mineral

resource of 4290 tonnes grading 1.04 opt gold with a total gold content of 4,460

ounces (about 4 million dollars at current gold prices).

Just IMO,

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