I read a very interesting press release today... it was good news for both of the companies working the Gold deposit and in advancing their exploration plans... cheers... yet it also helped to further highlight the value that can be achieved from a near surface gold deposit. The companies involved were doing this work to further prove the value of their deposit and not as a mining endeavor per say...
But as a prospector I also see reason to think that finding something were you can make $197 per tonne of rock serves to provide a good stimulus to keep on prospecting...at today's gold prices you may not need to find the mother load to make a profit... if you could find a nice near surface deposit... that can be mined ...
A few years ago these grades were seen as lack luster... today it is a different story as the value of precious metals has changed considerably...
A few years ago these grades were seen as lack luster... today it is a different story as the value of precious metals has changed considerably...
Here are few lines of their press release and a link to the full story...
Paragon and Crosshair Recover 314 Ounces Gold from Surface Bulk Sample at Golden Promise JV Project
Highlights of the program include:
- 313.59 ounces of gold and 23.05 ounces of silver were recovered from a 2,174 tonne surface bulk sample;
- a bulk sample grade of 5.59 grams/tonne (g/t) gold which is approximately 26% higher than the average block model grade of 4.42 g/t gold; and
- Positive milling characteristics of the mineralized material.
After refining, the bars and the mill concentrate produced a total of 313.59 ounces of gold and 23.05 ounces of silver which were sold for net receipts of CDN$430,001.85 after treatment charges...
Not bad hey... later on they talk about how to improve the recovery...
Keep On Prospecting
