After reading this I believe there is a good chance Peter George have done a good job after all. Any thoughts?
Mr. Peter George is the Qualified Person acting on behalf of Barkerville Gold Mines. He has 45 years of geological experience and I am confident that he has rigorously adhered to the codified set of rules and guidelines as promulgated by NI 43-101.
In 2010, Peter George completed a NI 43-101 resource report on Rubicon Minerals. This report outlined a resource of 4 million ounces and a compliant geological potential of 13 to 16 million ounces. Much has been said about the BCSC’s rejection of these numbers. A ubsequent Preliminary Economic Assessment report, which was very conservative in determining the gold resource only reduced Mr. George’s resource estimate by 10% to 3.6 million ounces and did not address the geological potential. At the annual meeting in 2011, a Rubicon executive commenting on the PEA said “it pretty much validates Peter George’s original NI 43-101.”
Mr. George was also responsible for a San Gold NI 43-191 resource estimate, which was essentially accepted without material change by the BCSC. He submitted an NI 43-101 compliant geological potential estimate of between 9 and 13.3 million gold ounces on behalf of Gold Eagle, but the report was not published because Gold Eagle was purchased by GoldCorp for $1.5 billion (CAD), prior to the mandatory date for publication of his report.
In other words, Mr. George fully understands the scrutiny that BCSC officials will give his NI 43-101 report detailing his huge gold resource estimation and enormous geological potential for the Barkerville property. I remain comfortable that he is satisfied with his computations.
