The first news release that we are expecting is on Jan.17,2012. They should already have the capital of $200k to purchase 15% addition of the Engineer mine making it a total of 75% ownership.
The second news release that we are expecting is an update on the bulk samples and hopefully an increase in resource estimates. Recently, we have seen very good results according to the news releases.
Currrent resource estimates:
| Table 1.1 | ||||
| ENGINEER MINE MINERAL RESOURCE ESTIMATE (1) | ||||
| at a 5 g/t Cut-off (2) | ||||
| Category | Vein | Tonnes | Au (g/t) | Au ozs |
| Inferred | Engineer | 30,800 | 20.6 | 20,400 |
| Inferred | Double Decker | 10,100 | 13.1 | 4,400 |
| Total | 41,000 | 19.0 | 25,000 | |
| Table 1.2 | ||||
| ENGINEER MINE MINERAL RESOURCE ESTIMATE (1) | ||||
| at a 25 g/t Cut-off (3) | ||||
| Category | Vein | Tonnes | Au (g/t) | Au ozs |
| Inferred | Engineer | 10,400 | 60 | 20,100 |
| Inferred | Double Decker | 3,600 | 30 | 3,500 |
| Total | 14,000 | 52.5 | 23,600 | |
According to the underground map diagram below, we can see that the bulk samples were taken from only a small portion of the engineer mine. Therefore, there is potential to see an increase in resource estimates which can give a boost in the stock.
You are reminded that you are responsible for your own due diligence. We share in neither your profit nor your losses.
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