Re: Can Agoracom verify this with UC please - Mica
posted on
Mar 20, 2009 01:33PM
Good Day Sir:
We have asked this question in three different manners from three different perspectives. At least your inquiry was acknowledged, but this is really not new information.
From the AGM in December we knew that they were mixing up the tailings pile because the Ag and Au had leached through to the depth of the tailings.
(This in itself was a little concerning because the tailings had been sitting there for decades before we took the samples in 2006 under Hamelin's regime and James G. Burns PEng. From Timmins Ontario qualified an “Inferred Mineral Resource for a 43-101. Burns took 12 samples of the tailings dam at La Yesca. “six of 5m length along a line from the lip of the apron back towards the old mill building, three from the bottom 1m of wall in each of three pits, two along the east wall of the small pit excavated during the 200 – 2001 re-milling program, and one from the last (deepest) 2 m in the adit at the east end of the dam. Then in the next two and a half years the tailings leached???? Burns says on the summary page of the 43-101 that the “inferred Mineral Resource of 132,795 m3 grading 2.0g/t Au and 220 g/t Ag. He goes on to say that a “drill program is required to up-grade the Inferred Mineral Resource to a measured Mineral Resource, and a metallurgical test work and costing to upgrade further to a Proven Mineral Resource. This was never done so it was the “Inferred Mineral Resource” on this legally registered document that gave the UC BoD the confidence to build the new mill.)
I have come to understand that having a 43-101 does not constitute a guarantee that a specified quantity of mineral exists, and therefore there is a rear exit without consequence for the responsible party that actually signed the 43-101 for the company.
So now we find out that “further metallurgical tests were required” because “it was discovered that the distribution of gold and silver was not as consistent as initially thought”
Obviously … isn’t that the conclusion that Burn’s came to.
Something is not right in Denmark folks. We need news, not options and dilution.
TRANSPARENCY is the new corporate drummer. It’s time to start the march Jim. Forget about the touchy-feely HR option rewards for others’ efforts to date and more seed money at these SP’s.
CASHFLOW has been our mantra for over two years Jim. How about a NR of results instead of intent. Soon please.