Golden Hope Mines

Golden Hope Mines Limited is a junior mining company trading on the TSX Venture Exchange under the symbol GNH and on the Pink Sheets in the U.S. under the symbol GOLHF.

over 14 years ago

in response to Sudbury Novice's message

Can someone tell me where the $5-10M estimate comes from. I hope it is not based on the assumption that T1 & T2 contain gold down to 1000M. As I posted earlier this would be misleading since they have not tested anything or drilled to that depth.

The 5-10M oz was not mentioned officially, although the 1000m figure is mentioned in the latest presentation (see p. 8):

they are predicting an initial tonnage potential from Timmins (T1 & T2) of 18-30M tonnes of 2 g/t Au down to 1000 metres.

That would give us 1.74M oz Au @ 30M tonnes and 1.04M oz Au @ 18M tonnes for Timmins (depending on the cut-off grade).

But as you said, they were using a calculation based on a depth potential up to 1000m for that which is a little bit misleading at this point in time, IMHO !

On the other hand, bulk tonnage has confirmed closer to 3 g/t, so we might be somewhere in between.

FANTOMAS