Loading ...Spock : Any opinion on GSV?? News Release
GOLD STANDARD INTERSECTS 97.0 m of 1.61 g Au/t and 15.4 m of 1.85 g Au/t IN A CORE TWIN OF DS15-11 AT THE NORTH DARK STAR OXIDE GOLD DEPOSIT
The Pinion deposit now has an NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 20.84 million tonnes grading 0.63 grams per tonne (g/t) gold (Au), totaling 423,000 ounces of gold and an Inferred Resource of 55.93 million tonnes grading 0.57 g/t Au, totaling 1,022,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced September 10, 2014). In addition to the Pinion deposit NI43-101 compliant resource estimate, the Dark Star deposit, 2.1 km to the east of Pinion, now has an NI43-101 compliant resource estimate consisting of an Inferred Resource of 23.11 million tonnes grading 0.51 g/t Au, totaling 375,000 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 3, 2015)
I’ll chime in here… these numbers are nothing special for this type of mine and actually on the lower end of what I’d like to see to get excited.
They need a large resource to make it economic at these grades. A lot of drilling is needed to expand the resources, but it could be a major find, that only the majors have the deep pockets to fund the capex. Low grade, high tonnage means large capex to build the mine.
having said that, Oceana Gold is a large shareholder, so if the system ii big enough and economic, they would fund it. On that basis, its worthy of being in the coffee can, as a long term hold.
Bottom line: I like it for a 5% position. Accumulate on weakness.