Some numbers from the other board to think about:(a Liberty10 post)
The combined resources of McWatters, Redstone and Hart are
Measured & indicated 2,781,500 tonnes @ 1.3% = 36,159.50 tonnes x 2205 = 79,731,697.5 lbs
inferred resource of 1,023,000 @ 1.51 % = 15,447.30 tonnes x 2205 = 34,061,296.5 lbs.
For a total of 113,792,994 lbs. Steal of a company at 25 cents!
Nice to see him posting something.
From the corporate Update: The new zones and our resources:
"Re-examination of drill data from 2007-2008 and earlier historical data revealed three mineralize zones roughly parallel to the footwall R-zone (massive pyrrhotite-pentlandite mineralization that has been the main target in the mine). The H-zone (hanging wall zone) occurs in a mineralized horizon that stratigraphically overlies the R-zone by approximately 20m. The H-zone has been drilled from the 213m and 244m levels and the following intersections and grades were obtained: UG7-12 at 11.15% Ni over 0.4m; UG8-18 at 2.52% Ni over 4.5 m; UG7-04 at 1.97% Ni over 2.95 m; UG8-29 at 4.19%Ni over 1.08 m; and R06-08 which showed 2.26% Ni over 1.85 m."
and
"These three target zones were not included in the resource estimation by SRK Consulting which stated a measured and indicated resource of 599,000 tonnes grading 1.47% Ni and 737,000 tonnes grading 1.57% Ni in the inferred resource category. There is significant potential to increase the resource in these categories through successful drilling and to convert the inferred resource to the measured and indicated category within the R-zone. These three target zones offer additional potential to expand the overall resources of the Redstone mine."
Work now done at the mill:
"The Redstone nickel concentrator ("Mill") processed 36,668 tonnes of ore grading 1.16% Ni from the Redstone mine consisting of 3,978 tonnes in the later part of September 2009 and 32,690 tonnes during the fourth quarter of 2009. The Mill processed 7,664 tonnes of development ore from the McWatters mine grading 0.41% Ni."
And also
"The McWatters nickel mine is now declared to be in commercial production. The first lower zone areas to be mined near the 150m level are known as panels 4, 3 and 7."
McWatters is now in commercial production. It has been a long time coming. Great news for us!
We can now use the word "ore" because we do have Ni43-101 compliant reserves.
Anyway, have a great weekend everyone.
