For the record, Glorieux is an absolute champion when it comes to sharing his due diligence here on this hub and personally I have learned a ton from this guy and and have an equal amount of respect for him.
However, when someone from a chat room tells you something is uneconomical to mine it doesn't make it so. (no disrespect here CV, Im just talking here) I'm certain he was just expressing an opinion.
The drilling done on the road zone was not done to determine if anything was economical to mine, it was done with the sole purpose of trying to determine what lies beneath the surface of the property that GNH actually owns to help them understand the geology of what may comprise their entire 'belt' and beyond.
Now, in my completely amateur opinion I'm not so sure that the Road Zone (which is the only Zone he was referring to) is uneconomical to mine - I think its much too soon to determine that.
In Larry's report he suggests the odds of hitting a piece of gold with a 3" drill core, cut in half and broken down and assayed was something like .05%
Of the 2.5 kg (2500 g) sample that goes to the lab, a pulped sub-sample no larger than 50 g is actually
assayed, or at a maximum, 2% of the lab sample. Assuming no other sampling variables come into play,
there is a 2.5% X 2% = 0.05% chance that the assayed sample contains any gold (and thus, a 99.95%
chance that it grades zero). However, if it does happen to contain one of those rather rare 100 mg
particles of gold, the assay would return a value of 100 mg/50 g = 2000 g/tonne = 58.34 opt.
When I mentioned that the results were exactly as I expected, this above is kind of what I had in mind when I was looking at the numbers. To me the fact that there was any gold in there at all was a tremendous positive.
Not to mention that I will assume that Tilsley will use these results to better understand his theory of what has happened here, and where is the gold coming from??
Just a discussion and a different perspective on how the past drill results were actually presented. I will admit I was hoping for better, but for the Road Zone in particular - I remember management et al only talking about lots of quartz, no diorite or VG...just quartz.
The quartz here may speak volumes of the hydraulic fracturing model to a guy like Tilsley. At minimum he's got a lot more info to work with now, and let's face it, if gold were so easy to find it wouldn't be priced at over $1300/oz now would it? I will not expect every hole to be a home run and I don't anyone here should expect that either.
B
