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Ore Reserves - The fisherman’s view
http://www.pwc.com/en_GX/gx/mining/school-of-mines/pdf/basics-of-mining-accounting-canada.pdf
Inferred
There is lake in the distance….
Measured and Indicated
You saw something disturb the
surface of the lake – it looked like a
fish
Probable
There are fish in the lake – you have
had some bites, have seen them
jumping and heard of others catching
them, but have not caught any yet
Proven undeveloped
The fish is on the hook and you can
see it but it is still in the water, where
they always look bigger
Proven Developed
The fish is in the boat – you have
weighed it and will keep it for dinner
bull-rider,
Splash59,
This is what Jack said about waiting for KATG Part 2
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=110820&tid=375&mid=375&tof=2&frt=2
16-Aug-10 05:18 pm
I told him I was only joking. This is his reply
I will take your word this time, that you were joking in your previous email. BTW it was a bad joke not to be repeated. I don’t know what PR you are referring to but it certainly did not mean that we would be releasing a hole by hole result of the drilling. That would be misleading and unacceptable even to the SEC. How could we give you results when they have not been analyzed by the lab? Please be patient as most are and know that results will be released when WE are ready to release them.
Best regards,
Jack Zwicker
Kat Exploration Inc
Investor Relations
Ph 902-497-3188
jzwicker@katexploration.com
www.katexploration.com
I was only joking.
BTW- the pr said that results would be released throughout the drilling process, not wait till all results are back from the lab.
--- On Mon, 8/16/10, Jack Zwicker <jzwicker@katexploration.com> wrote:
I resent you inferring that I am not telling the truth about what? It is clear to me you have very limited knowledge of the mining industry and your reference that we are holding onto information because of waiting for KATG shares to be trading defies reason. We just finished drilling and you expect that we would have all the results back from the Lab and reviewed by our team only underlines your very limited understanding of this business. Do not expect any replies from me in the future regarding any questions you may have. I do not take kindly being called a liar which is what you called me, by saying I am not telling the truth. Good day to you sir.
Jack Zwicker
Kat Exploration Inc
Investor Relations
Ph 902-497-3188
jzwicker@katexploration.com
www.katexploration.com
Jack,
We all know that you're not telling us the truth, which is the test results are known already. This is too long. Is KATX waiting waiting for KATG shares to be trading first before releasing the drill core results from Handcamp?
This is what Jack said about waiting for KATG Part 2
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_K/threadview?m=tm&bn=110820&tid=375&mid=375&tof=2&frt=2
16-Aug-10 05:18 pm
I told him I was only joking. This is his reply
I will take your word this time, that you were joking in your previous email. BTW it was a bad joke not to be repeated. I don’t know what PR you are referring to but it certainly did not mean that we would be releasing a hole by hole result of the drilling. That would be misleading and unacceptable even to the SEC. How could we give you results when they have not been analyzed by the lab? Please be patient as most are and know that results will be released when WE are ready to release them.
Best regards,
Jack Zwicker
Kat Exploration Inc
Investor Relations
Ph 902-497-3188
jzwicker@katexploration.com
www.katexploration.com
I was only joking.
BTW- the pr said that results would be released throughout the drilling process, not wait till all results are back from the lab.
--- On Mon, 8/16/10, Jack Zwicker <jzwicker@katexploration.com> wrote:
I resent you inferring that I am not telling the truth about what? It is clear to me you have very limited knowledge of the mining industry and your reference that we are holding onto information because of waiting for KATG shares to be trading defies reason. We just finished drilling and you expect that we would have all the results back from the Lab and reviewed by our team only underlines your very limited understanding of this business. Do not expect any replies from me in the future regarding any questions you may have. I do not take kindly being called a liar which is what you called me, by saying I am not telling the truth. Good day to you sir.
Jack Zwicker
Kat Exploration Inc
Investor Relations
Ph 902-497-3188
jzwicker@katexploration.com
www.katexploration.com
Jack,
We all know that you're not telling us the truth, which is the test results are known already. This is too long. Is KATX waiting waiting for KATG shares to be trading first before releasing the drill core results from Handcamp?
I communicated with company IR last Tuesday and he said:
The assay results are not complete nor reviewed by our team, no other reason than this as to why they have not been released. It has nothing to do with a symbol change nor outstanding shares that I am aware of.
We need to keep in mind the geologists we have working are probably on-site at Handcamp and are pretty busy with the drill program and have not had time to review the assay results.
Also each step(soil samples, trenching etc..) we have taken thus far have come up GOLD.
BVIG/KATX concerning the Handcamp property is at the stage (EX-4) of verification of anomalies and showings.
The objectives are to investigate the cause of anomalies.
Find mineral showings.
Acquire additional claims, leases and properties.
EVALUATION METHODS
Geological mapping and other surveys. Trenching, drilling and sampling. (This has been done)
Appraisal of results, recommendations for further work, and selection of new targets. (THIS IS WHAT WE ARE WAITING FOR)
Based on the last PR we know more drilling is already in the plans or being done.
Who is a Great leader?
Ken Stead
We Good
We very Good
We Very Very Good
Enough said
What Makes a Great Leader? 10 Vital Traits of a Great Leader
http://ezinearticles.com/?What-Makes-a-Great-Leader?-10-Vital-Traits-of-a-Great-Leader&id=3109391
Over the years, many people have talked and written about what makes a great leader. They have derived examples from some of the greatest public and private figures in both the past and the present.
Fine examples of good leadership have been seen in political figures, philosophical thinkers, and entrepreneurs, among others. We can certainly learn a thing or two from these individuals.
To help you improve your own leadership skills, here are 10 good examples of what makes a great leader.
1) Determination
A great leader has an almost inexhaustible stock of determination. He is the first one to initiate an idea and the last one to give up. It is because of a leader's determination that projects are completed.
2) Flexibility
What makes a leader great? It is his ability to adapt to any situation. He sees the situation from many different angles and can adjust himself accordingly.
3) Resourcefulness
Sometimes, not everything is handed to you on a silver platter. In these cases, you're going to have to think of other ways to get what you want, or to achieve what you want to achieve. Coupled with flexibility, resourcefulness is definitely a powerful leadership tool.
4) Creativity
Another vital factor on what makes a great leader is his creativity. Creativity is not just about art and aesthetics. It is also about being able to solve a problem with the least amount of time, money and effort.
5) Self-confidence
Without self-confidence, how can a leader expect to get his people to follow him? But keep in mind that self-confidence is different from arrogance. Don't make the mistake of confusing one for the other, or you'll soon find yourself being the target of everybody's ire.
6) Positive Attitude (WE VERY GOOD)
A great leader has a positive countenance but is not overtly idealistic. Instead, he tries to make the best out of everything.
7) Responsibility
Responsibility is a double-edged sword. A great leader understands that whatever happens in his team (whether good or bad) is his responsibility. He does not hog all the glory and does not play the blame game with his subordinates either.
8) Good Communication Skills
Never underestimate the power of good communication skills. As a leader, you will be tasked to oversee everything that comes and goes.
What makes a leader great is his ability to communicate effectively with his team. A good leader understands that people don't perceive messages in the exact same way.
9) Consistency
How credible, do you think, is a person who only does well during certain months? A great leader is a fine example of consistency. He takes actions and delivers, project after project.
10) Forecasting
A good leader knows what's up ahead. He has the ability to estimate the projected value of a certain object in the future.
So what makes a great leader? It is a mix of these qualities. You don't necessarily have to possess all of them, but you should at least strive to develop many of them.
Gump,
If the are on the drill site, how are they not busy. With drilling on-going and more results to come in, KATX have plenty to review and report. They certainly know a lot more than we do. We shall get the results when they release them.
Have a wonderful vacation.
I communicated with company yesterday and they said:
The assay results are not complete nor reviewed by our team, no other reason than this as to why they have not been released. It has nothing to do with a symbol change nor outstanding shares that I am aware of.
We need to keep in mind the geologists we have working are probably on-site at Handcamp and are pretty busy with the drill program and have not had time to review the assay results.
Hey Gump,
Have a wonderful vacation.
Also, I thought you would like to know how will BVIG be funded?
Private investors and A possible JV
Western Labrador
http://www.nr.gov.nl.ca/mines&en/statistics/ExpOv/Exploration%20Highlights%20for%20July,%202010.pdf
On July 7, 2010, Wolverine Exploration Inc. announced an update on exploration work during June and early July on its 90% owned Cache River Property in west central Labrador. Work on the Property consisted of prospecting, sampling and geological reconnaissance on and around electro-magnetic and radiometric anomalies that were identified during the 2007 airborne survey. Earlier sampling on rock cuts along the
highway had shown significant values in Cu and Au that warranted further exploration. To date a total of 94 rock samples have been collected and sent to a laboratory for ICP-30 elements and Au analysis. Results have been received which indicates that several areas have elevated levels of Cu with minor Au, Pb and Zn. The strongest anomalous area (Sample CR-11;-1.69% Cu) was traced southwest for over a strike length of 100 meters (328 ft) in bedrock when excessive overburden prevented further examination of the zone. This exploration will be continued utilizing an excavator. The northern center of this anomaly is directly on strike, 250 meters from the sample site indicating a possible continuation of the zone to the north. This is scheduled for the diamond drill.A second anomalous area that is of considerable interest to Wolverine lies one kilometer to the east (Sample RS-04-02, 2.17% Cu and 556 ppb Au) could not be traced further than the rock cut due to overburden thickness. This area is also scheduled for trenching and drilling.
The western end of the Property, will also receive a more detailed geological inspection during this phase of the exploration. The mineralization exposed here is mainly malachite and is contained in meta-sedimentary gneiss. Previous sampling assayed up to 6.4% Cu. The current program confirmed the high Cu levels and also that Au is present as well. One sample assayed at 420 ppb Au. Wolverine has recently signed contracts for both the trenching and diamond drilling operations on its property. The trenching contractor, Kakahashu Construction, operates out of nearby Goose Bay while UltraLite Drilling is based in Ontario.
http://www.wolverineexplorationinc.com
Feds Want Docs Off Paper Records
The Obama administration wants to wean doctors and hospitals to computerized medical records in 5 years, promising greater safety for patients and lower costs.
Ricardo Alonso-Zaldivar
Associated Press Writer
5:17 PM EDT, July 13, 2010
http://www.ctnow.com/health/sns-health-docs-computerized-records,0,3967258,print.story
The Obama administration on Tuesday rolled out an ambitious five-year plan for moving doctors and hospitals to computerized medical records, promising greater safety for patients and lower costs.
Starting next year, doctors' offices and hospitals can get federal money to help defray the costs of the systems, which can run to millions of dollars for hospitals. Providers who don't comply by 2015 will face cuts in Medicare payments.
Federal incentive payments for doctors and hospitals to buy computerized systems could reach $27 billion over 10 years, and that's only a fraction of what technology vendors stand to take in. It's hoped the investment will streamline the delivery of medical care, yielding long-run savings.
Patients get the benefit of systems that can warn doctors before they make a mistake — prescribing a drug that could cause a severe reaction, for example. And there's also the convenience of being able to access records online.
The move by the Health and Human Services Department came with the release of two regulations hundreds of pages long. The main one described how doctors and hospitals can qualify for federal money by acquiring systems that meet certain "meaningful use" standards. A companion rule outlined how the systems will be certified.
Initial reaction from key interest groups was guarded. As lawyers pored over the text of the regulations, the American Medical Association said it was withholding judgment. The American Hospital Association said it is concerned about serveral aspects.
Federal officials said they tried to address doctors' complaints that the initial draft of the rule asked them to do too much, too quickly. More than half of family doctors practice in groups of four or fewer. A majority of small and medium offices have opted not to adopt electronic records because of costs and unresolved questions, according to the American Academy of Family Physicians.
David Kibbe, an adviser to the group, said that may start to change. "This is pretty good news," he said. "It will almost certainly translate into more physicians becoming participants in the electronic health records incentive program."
Money for electronic records was included in the 2009 economic stimulus bill.
Administration officials said they lowered the number of initial, "core" capabilities that the systems have to demonstrate in order for providers to get federal money, and allowed a longer period of time to achieve others.
They also lowered several additional requirements. Only 40 percent of medications will have to be electronically prescribed, as opposed to 75 percent as the government initially proposed.
The result "strikes the balance that was needed," said Steven Findlay, a policy expert with Consumers Union. "They give doctors the financial support to promote electronic records adoption without undue burdens. But they also hold doctors accountable for actually improving care and the health status of their patients."
The top government official overseeing the transition program says that reflects what happened to him in a previous stage of his career, when as a middle-age primary care doctor he was forced to learn to use electronic medical records.
David Blumenthal, now national coordinator for electronic health records, said the computer once saved him from prescribing a drug to a patient who was allergic to the medication. On many other occasions, he was able to avoid ordering duplicative tests, because earlier results stored in the system told him what he needed to know.
"I watched it make my care better before my eyes," said Blumenthal, formerly a prominent Boston area physician and Harvard professor.
Doctors' offices can receive as much as $44,000 through Medicare and $63,750 through Medicaid for installing computer systems that meet federal standards. Hospitals can receive millions.
CTnow
Connecticut To Get $695,000 For Electronic Health Records
By EZRA R. SILK, esilk@courant.com
6:35 PM EDT, August 4, 2010
http://www.ctnow.com/business/hc-dodd-health-funds-20100804,0,4704970,print.story
Incentive Program provides funding from ARRA to eligible health care providers
Connecticut will receive $695,000 to help Medicaid providers implement electronic health records, Sen. Christopher Dodd, D-Conn., said Wednesday.
Six other states, among them Rhode Island and New Hampshire, have been awarded funds through the Electronic Health Records Incentive Program, which provides funding to eligible health care providers that use electronic health care records.
The funds, provided by the 2009 American Recovery and Reinvestment Act, will be distributed by the Centers for Medicare and Medicaid Services.
"Investing in electronic health records is critical to improving the quality and efficiency of health care," Dodd said. "Electronic health records enable doctors and medical professionals to devote more time to treating patients and less time filling out paperwork."
Gold E Locks,
BVIG is and has been available for purchase.
Gump,
You make it sound like it is a difficult process. All governments have their bureaucratic elements, however people familiar with the process know how to get the paperwork push through. It works they way all over the world.
ENVIRONMENTAL ASSESSMENT
... A Guide to the Process
http://www.env.gov.nl.ca/env/env_assessment/ea_guide.pdf
PURPOSE OF ENVIRONMENTAL ASSESSMENT
The purpose of the Act is “to facilitate the wise management of the natural resources of the province and to protect the environment and quality of life of the people of the province”. It requires anyone who plans a project that could have a significant effect on the natural, social or economic environment to present the project for examination. The EA process ensures that development projects proceed in an environmentally acceptable manner. When the potential environmental effects of projects are of concern, the EA process generates real benefits by: (i) providing for comprehensive project planning and design, (ii) maximizing environmental protection, (iii) enhancing government coordination, accountability and information exchange, (iv) facilitating permitting and regulatory approval of projects.
The Environmental Assessment Division of the Department of Environment and Conservation administers the EA process including: (i) consulting at every stage with interested government departments and the public, (ii) evaluating submissions by proponents and reviewers, (iii) advising the Minister on potential environmental effects prior to decisions and (iv) monitoring approved undertakings to ensure compliance and effectiveness of mitigation.
FEES
Undertakings are subject to a fee structure in accordance with the current Cost Recovery Policy of the Department. The fee for registration is $200 plus HST (non-profit organizations are exempt). In addition, following registration, undertakings with an estimated capital cost greater than $15 million are subject to a schedule of fees (available from the Department) to offset the Department’s cost of conducting the assessment.
OFFENCES
A proponent who proceeds with an undertaking without proper authorization or otherwise contravenes the Act may be ordered by the Minister to stop work and may be fined by the Courts. A person found guilty of an offence under the Act is liable to a fine of not less than $1,000 and not more than $50,000. For a corporation, fines range from $5,000 to $1,000,000.
ENVIRONMENTAL ASSESSMENT PROCESS
STEP ONE: REGISTRATION AND REVIEW
An undertaking that is subject to the Act is required to be registered for examination with the Department. The registration outlines the proposed project and describes how it will effect the bio-physical and socio-economic environment. Proponents must demonstrate in the registration document how the best practicable technology and methods will be used to minimize harmful effects.
The proponent must submit 40 copies* (with fee) of the registration document. The Minister will announce in the EA Bulletin, within 7 days, the receipt of a registration. Copies of the registration are made available and the public has 35 days to submit written comments to the Minister. The registration will also be examined by all interested government departments. The EA Division coordinates the public and governmental review and prepares a recommendation to the Minister. The suggested registration format is shown in Appendix 1 of this Guide. Early registration may prevent costly delays and unnecessary expense.
STEP TWO: MINISTER'S DECISION
Within 45 days of receiving a registration, the Minister will advise the proponent of the decision on the undertaking. All decisions will be announced in the EA Bulletin within 10 days of notifying a proponent. There are four options for Ministerial decisions:
1. The undertaking may be released. The proponent may proceed as indicated in the registration, subject to any terms and conditions that the Minister may set, other Acts or regulations (federal, provincial or municipal). No permits, approvals or authorizations are to be issued or any associated physical activities are to proceed, until the project is released from the assessment process.An Environmental Preview Report (EPR) may be required. An EPR provides additional information not contained in the registration so that the Minister may judge whether a project may be released or if an Environmental Impact Statement (EIS) is necessary.
3. An Environmental Impact Statement (EIS) may be required. An EIS is ordered where significant negative environmental effects are indicated or where there is significant public concern about a proposal. This requires a comprehensive environmental review of a complete project description including alternatives, original research on the existing environment, identification and evaluation of potentially significant environmental effects, an evaluation of proposed mitigation measures to minimize harmful effects and monitoring programs.
4. The undertaking may be rejected. This may occur if an unacceptable environmental effect is indicated, is not in public interest, and/or if the proposal is inconsistent with an existing law or government policy. A decision to reject would be made by Cabinet.
STEP THREE: GOVERNMENT PREPARATION OF EPR/EIS GUIDELINES
Assessment Committee: When an EPR or EIS is ordered, the Minister will appoint an Assessment Committee, in accordance with section 5 of the Regulations. Committees are comprised of technical experts from both provincial and federal government departments with an interest in a given project. The committee is chaired by a staff person from the Environmental Assessment Division. The basic roles of committees include: (i) recommending EPR and EIS guidelines for issuance by the Minister, (ii) reviewing and evaluating the EPR and EIS documents submitted by the proponent, (iii) reviewing public submissions, (iv) providing advice to the Minister. Proponents are guided by the Committee during the course of preparing the guidelines and EPR and EIS documents.
EPR and EIS Guidelines: Guidelines are based on registration stage comments and meetings with the proponent, government agencies and public groups. The Assessment Committee will consult with the proponent during the course of preparing Guidelines. Guidelines will focus on the main unanswered questions in determining the significance of environmental effects. EPR Guidelines are issued by the Minister to the proponent within 60 days of the EPR decision and then made available to the public. EIS Guidelines are issued within 120 days of the EIS decision and are subject to a 40 day public review prior to approval by the Minister.
STEP FOUR: PROPONENT PREPARATION OF EPR/EIS
The EA Division will endeavour to facilitate the process for proponents at all stages.
Proponent prepares an Environmental Preview Report. An EPR will focus only on the main unanswered questions in the registration, based on EPR Guidelines. EPRs typically rely on existing information and no original fieldwork is required.
Proponent prepares an Environmental Impact Statement. An EIS will focus on key issues relating to the effects of the project on both the bio-physical and socio-economic environments, based on EIS Guidelines. Original research is often required on the existing environment and anticipated effects. The EIS is required to contain information as outlined in Section 57 and 58 of the Act.
One or more component studies may be required in the preparation of an EIS, in accordance with the Regulations. This is typically done when data is needed on existing valuable ecosystem components (such as caribou, fish or rare plants), which may be significantly affected by the project. Component studies, although part of the EIS, are distinct documents with separate Guidelines, public review and approval.
In the course of gathering data for an EIS, the proponent is required to implement a public information program for the area affected by the undertaking. Through such a program, local residents will be fully informed of the nature of the project and its effects on the environment, and copies of all reports on original studies undertaken for the EIS will be made available. The concerns of the public must be recorded and addressed in the EIS.
STEP FIVE: EPR/EIS REVIEW AND DECISION
The EPR approval process is contained in section 54 of the Act and section 7 of the Regulations including: receipt of the EPR, Ministerial announcement, public review and comment, EA Committee recommendation and Minister’s acceptance and decision.
The EIS approval process is defined in sections 57 to 67 of the Act and section 11 of the Regulations and includes the following steps: receipt of the EIS; Ministerial announcement; public review and comment; EA Committee recommendation and Minister’s acceptance; Ministerial recommendation to Cabinet; and Cabinet decision. If there is strong public interest or concern regarding an undertaking, the Minister may request Cabinet to appoint an environmental assessment board for the purpose of conducting public hearings.
Cabinet may reject any undertaking where (i) unacceptable impacts are identified, (ii) the undertaking is contrary to law or policy, (iii) where it is in the public interest to do so.
FEDERAL ENVIRONMENTAL ASSESSMENT PROCESS:
Undertakings that are subject to the Act are also reviewed by the Federal government in accordance with the Canadian Environmental Assessment Act (CEAA) in an effort to informally harmonize the provincial and federal review processes in an effective and timely manner.
The following consists of a series of questions designed to give proponents an idea of whether a federal authority is likely to require a federal environmental assessment of a project in Newfoundland and Labrador. The questions contained herein are for guidance purposes only, and should in no way be a substitute or replace the official version of the Canadian Environmental Assessment Act and Regulations.
If the answer to any one of the questions 1 to 4 is Yes, a federal environmental assessment would be required for the project.
1: Is a federal authority proposing or implementing the project?
2: Are any federal authorities providing financial assistance for the purpose of enabling the project to be carried out in whole or in part?
3: Are any federal authorities providing federal lands through a sale, lease or other disposal of an interest in federal land for the purpose of enabling the project to be carried out in whole or in part?
4: Will a federal authority have to exercise(s) a regulatory duty in relation to the project, such as issuing a permit, licence or approval that is covered under the Law List Regulations? (The legal text of the Canadian Environmental Assessment Act and Regulations can be found on the Canadian Environmental Assessment Agency’s web site at www.ceaa-acee.gc.ca)
Yup gump,
If one hasn't determine whether it is worth the time and money to mine a site, why waste the effort to get a permit. I would expect exploration/mining companies have an idea of what areas may pose threat to the environment and may have difficulty with permits. The information I've run across in recent weeks seems to suggest Canada is mining friendly when a company follows the rules.
ALL these companies had such a hard time getting those environmental permits and of course a nod from the First Nations People:
Producing Mines and Developing Properties
http://www.nr.gov.nl.ca/mines&en/geosurvey/matty_mitchell/pdf/Producing%20Mines%20Fall%2008.pdf
BigOwl47,
Feasibility studies just take time and it is hard to put a time frame on one because of the different factors that must be considered when conducting one. While researching information on mining I've run across studies as a little 10 months and well over 2 years. Of course they could be shorter or longer. They are the deciding factor as whether it is a go/no go to mine the product.
What I like about KATX/BVIG is that the are following protocol. No short cuts, just the facts. So far we keep coming up GOLD. Hopefully the assays results will support what has already been shared.
The table shows some of the complexities of feasible studies:
http://mmsd.mms.nrcan.gc.ca/stat-stat/expl-expl/pdf/04_e.pdf
Only one thing matters, will always matter and will be the driving force of the share price:
What is in the GROUND!!!!!
patriot33,
I believe Gump was referring info being leaked from handcamp as drilling was going on.
Regardless of what the drill cores showed, they still have to be sent to a lab to run tests to determine the actual mineral content.
A lab would probably never leak information on a company results as they probably would lose business, be fined by the proper authorities and possibly be forced to shut their business down. It would be a death sentence.
Analyzing mineral and other materials is a very profitable business and the lab they we deal with is one of the best.
http://www.actlabs.com/
GOLD
What to Look For
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52748568
Gold may occur as visible specks or nuggets in quartz veins. It can also occur in sulphides - pyrite (fools gold) where it would probably not be visible and would require an assay or analysis to determine its presence.
Gold and other elements are often associated with alteration, which is rock that has been changed by hot fluids from deep in the earth. The presence of alteration may be signaled by a change in rock color (i.e. from red to green or brown and then back to red again) over a short distance. The rock often becomes much harder, due to the addition of silica from the fluids and the altered zone often carries quartz and associated sulphides (such as pyrite or fools gold).
Sulphides oxidize or "rust" on the surface. Rusty zones then provide a clue to the presence of sulphides which may carry base metals or gold or both. Gold may be visible, as small specks, in these zones (such as many on the Baie Verte peninsula) or an assay or analysis may be required to detect the presence of base metals and/or gold. Oxidation or staining on the rocks suggests the presence of other elements such as copper (green, blue colors), nickel (green), cobalt (purple), and molybdenite or uranium (yellow). Most sulphides have a metallic lustre (i.e. look like metal) and can be identified by their crystal structure and color.
Gold may occur as visible specks or nuggets in quartz veins. It can also occur in sulphides - pyrite (fools gold) where it would probably not be visible and would require an assay or analysis to determine its presence.
Gold and other elements are often associated with alteration, which is rock that has been changed by hot fluids from deep in the earth. The presence of alteration may be signaled by a change in rock color (i.e. from red to green or brown and then back to red again) over a short distance. The rock often becomes much harder, due to the addition of silica from the fluids and the altered zone often carries quartz and associated sulphides (such as pyrite or fools gold).
Sulphides oxidize or "rust" on the surface. Rusty zones then provide a clue to the presence of sulphides which may carry base metals or gold or both. Gold may be visible, as small specks, in these zones (such as many on the Baie Verte peninsula) or an assay or analysis may be required to detect the presence of base metals and/or gold. Oxidation or staining on the rocks suggests the presence of other elements such as copper (green, blue colors), nickel (green), cobalt (purple), and molybdenite or uranium (yellow). Most sulphides have a metallic lustre (i.e. look like metal) and can be identified by their crystal structure
and color.
GOLD
What to Look For
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52748568
Gold may occur as visible specks or nuggets in quartz veins. It can also occur in sulphides - pyrite (fools gold) where it would probably not be visible and would require an assay or analysis to determine its presence.
Gold and other elements are often associated with alteration, which is rock that has been changed by hot fluids from deep in the earth. The presence of alteration may be signaled by a change in rock color (i.e. from red to green or brown and then back to red again) over a short distance. The rock often becomes much harder, due to the addition of silica from the fluids and the altered zone often carries quartz and associated sulphides (such as pyrite or fools gold).
Sulphides oxidize or "rust" on the surface. Rusty zones then provide a clue to the presence of sulphides which may carry base metals or gold or both. Gold may be visible, as small specks, in these zones (such as many on the Baie Verte peninsula) or an assay or analysis may be required to detect the presence of base metals and/or gold. Oxidation or staining on the rocks suggests the presence of other elements such as copper (green, blue colors), nickel (green), cobalt (purple), and molybdenite or uranium (yellow). Most sulphides have a metallic lustre (i.e. look like metal) and can be identified by their crystal structure and color.
Gold may occur as visible specks or nuggets in quartz veins. It can also occur in sulphides - pyrite (fools gold) where it would probably not be visible and would require an assay or analysis to determine its presence.
Gold and other elements are often associated with alteration, which is rock that has been changed by hot fluids from deep in the earth. The presence of alteration may be signaled by a change in rock color (i.e. from red to green or brown and then back to red again) over a short distance. The rock often becomes much harder, due to the addition of silica from the fluids and the altered zone often carries quartz and associated sulphides (such as pyrite or fools gold).
Sulphides oxidize or "rust" on the surface. Rusty zones then provide a clue to the presence of sulphides which may carry base metals or gold or both. Gold may be visible, as small specks, in these zones (such as many on the Baie Verte peninsula) or an assay or analysis may be required to detect the presence of base metals and/or gold. Oxidation or staining on the rocks suggests the presence of other elements such as copper (green, blue colors), nickel (green), cobalt (purple), and molybdenite or uranium (yellow). Most sulphides have a metallic lustre (i.e. look like metal) and can be identified by their crystal structure
and color.
compiled by R. James Weick, 1994
http://www.nr.gov.nl.ca/mines&en/geosurvey/education/gold.stm
Gold, the noblest of metals, has been used by man for more than 5000 years. Its extreme softness or malleability, and resistance to tarnish (oxidation), led to its earliest uses in art and currency. Gold is the metal of choice for jewellery, and is often used in dentistry. Gold has also been used successfully in many modern technological applications. It is used as the electrical contacts of computer chips. Minute quantities of gold (less than 3 micrograms) are vaporized to mirror lens surfaces. The intrinsic value of gold offers an attractive alternative to stocks and bonds for many investors. It remains the principle medium for setting currency values and settling international debts among the nations of the world.
Minor concentrations of gold occurs in most natural substances. In seawater, for example, there is approximately 0.012 parts per billion (ppb) of gold, and in fresh water it is slightly higher at 0.02 ppb. Its average concentration in the Earth's crust or lithosphere is approximately 5 ppb, and in certain sedimentary rocks it may achieve concentrations of up to 2100 ppb or 2.1 parts per million (ppm). At these concentrations 20 or 30 tons of rock must be processed to extract a single ounce of precious gold. As a result, gold can only be mined profitably where it is highly concentrated by natural chemical and physical processes.
Gold occurs in many different geologic settings and its classification into deposit types is complicated. However, two basic types of occurrences or deposits are recognized, primary and secondary. Both rely on similar chemical and physical processes to produce economic concentrations of gold ore. Primary deposits form where gold precipitates during chemical reactions between hydrothermal (hot fluids) mineralizing solutions (metal-bearing)and rocks in the Earth's crust. Secondary deposits form later during the chemical and mechanical processes of weathering and erosion, and the physical reconcentration of gold-bearing sediment into placer deposits.
Hydrothermal deposits can be classified as either epigenetic (deposits that form after the formation of the surrounding rocks and other events of mineralization) or syngenitic (deposits that form the same time as surrounding rocks). In epigenetic hydrothermal deposits gold may occur as the principle metal or as a secondary mineral associated with other metals, such as iron, copper, lead and zinc. In these epigenetic hydrothermal deposits. One variety of epigenetic deposit (epithermal gold deposits) form at temperatures below 350°C by the convective circulation of fluids to depths of approximately 2 kilometres, usually near hot igneous bodies or plutons in volcanically active regions. In this type of hydrothermal occurrence gold is generally at relatively low concentrations. Hot springs are modern examples of this type of mineralization process. Mesothermal gold deposits, which form at temperatures above 350°C, occur along large breaks or faults in continental crust. The origin of these is not certain, but they form at depths of 3 to 5 kilometres below the Earth's crust, and appear to be associated with the upward migration of fluids from the Earth's mantle.
Gold is often extracted as a by-product during smelting from volcanogenic massive sulphide (VMS) deposits (syngenetic hyrdothermal deposits) which are generated by the accumulation of metal-rich sediments near active volcanic centres on the seafloor. Gold is also found in porphyry copper deposits, high volume (up to 1000 million tons), low grade (0.7% Cu) deposits, formed by the circulation of fluids through the Earth's crust during the volcanic activity related to mountain building above active subduction zones.
Secondary gold occurrences or placer deposits are formed by the deposition and reconcentration of gold-bearing sediments from primary gold occurrences. Placer deposits are generally classified according to their depositional environment. Marine placers occur offshore near coastlines; fluvial placers occur in river and stream valleys in the drainage basins which contain primary gold occurrences upstream. Some studies suggest that gold is not only mechanically transported in placers, but that it is also chemically transported. The unusual size and purity of nuggets in some placer deposits supports this theory for gold transportation.
Why is it important to continue the search for gold and other metals? Aside from the obvious financial benefits associated with the discovery and development of mineral deposits to mining companies, there are many benefits to communities fortunate enough to be located near producing mines. Exploration and mine development are activities that create jobs. They require highly trained professionals, and skilled technical personnel that may be found in local communities. In addition to the manpower and labour requirements, mineral property and mine development activities often require additional materials and specialized technical services. These are often provided by geologic and mining engineering companies, who locate offices in local communities to participate in exploration and mine development contracts. The economic "spin-offs" to communities from these activities are often significant. Resource-based activities, including mining and exploration often serve as the base for local and regional economies.
Where is the gold in Newfoundland? Despite an extensive exploration and mining history, gold exploration is a relatively new activity in Newfoundland and Labrador. While the gold-bearing base metal VMS deposits, such as at the former Buchans and Rambler mines, are well known, exploration over the last two decades has resulted in the recognition of numerous epigenetic gold deposits and prospects in the province. Important recent discoveries include the Hope Brook Mine, near Burgeo, and the Pine Cove and Nugget Pond deposits, near Baie Verte. There is also excellent potential for the discovery of marine placers in regions, such as the Baie Verte Peninsula, with an abundance of primary base metal and gold deposits. The potential for fluvial placers has not been investigated, but these may be discovered in some of the larger river basins.
To summarize, recent exploration in Newfoundland and Labrador has resulted in the discovery of several new, significant gold prospects. While many of these are sub-economic, a few have been successfully developed as mines. The current economic recovery in Canada, and increases in the market price of gold have already resulted in increases in the level of prospecting and exploration in Newfoundland and Labrador, activities which may lead to the development of these gold deposits. Gold should be seriously considered as a mineral commodity of great importance to the development and economic diversification of Newfoundland and Labrador.
This is the ancient alchemic symbol for gold. Innumerable experiments which were focused on transforming base metals and other materials to gold made significant contributions to the science of chemistry.
http://www.nr.gov.nl.ca/mines&en/geosurvey/matty_mitchell/rounder_article.stm
Prospecting in Newfoundland...
Prospecting - for most people the word conjures up an image of an oldtimer panning for gold along a northern river. Prospectors did look like that in the old days, but today prospectors are also construction workers, stock brokers, mechanics, fishermen, woods workers, housewives, geologists etc. - anyone who enjoys the outdoors and is interested in the natural environment.
Newfoundland has had a long history of mineral production which began in the 1800's. The copper industry in the Notre Dame Bay area, which made Newfoundland the sixth largest copper producer in the world, for a time in the late 1800's, was established by prospectors. The Tilt Cove Mine was found by a fisherman who was using heavy boulders (massive copper ore) for ballast in his boat. The Betts Cove, Little Bay and Pilley's Island Mines in Notre Dame Bay and the Terra Nova Mine in Baie Verte were also discovered during this period.
The Buchans Mine was found by a Micmac trapper - Matty Mitchell, who was prospecting in the area north and west of Red Indian Lake. Gold and copper deposits in the Baie Verte area, including the Rambler, were found by prospectors such as Enos England, in the early 1900's and the Baie Verte asbestos deposit was found by prospector Norm Peters in the 1950's. The Bell Island iron mines were discovered when someone recognized that heavy boulders used for ballast in ships from the area were iron ore. All of these properties were sold or optioned by the prospectors to mining interests.
Prospecting for gold in Newfoundland and Labrador appears to have been limited to a period between the late 1800's and 1940, but began again in the early 1980's due to increases in the gold price. A geological map of the Baie Verte area, produced less than 10 years ago in 1983, shows only 2 or 3 gold occurrences, including the Goldenville deposit, near Ming's Bight, which was found in the late 1800's and a couple of small quartz veins containing gold on the Rambler property. Today, there are at least 100 known gold occurrences, some of which (Pine Cove near Ming's Bight, Nugget Pond near Snook's Arm, Hammerdown near King's Point) will probably be mined in the near future.
Prospectors associated with mining companies discovered most of these prospects, however there are still significant deposits to be found throughout Newfoundland and Labrador by individuals. For example, two occurrences of white quartz with visible gold were found by geologists working for International Corona Corporation in October 1990 on the Pine Cove Property near Ming's Bight. The town of Baie Verte, across the Bay, can be seen from the occurrences which are exposed on the side of small bogs approximately 250 m apart and inland about 500 m from the Bay. These occurrences were unknown until this time - it is obvious that no one had ever thoroughly prospected this area and other areas of the province are the same.
Labrador has not, to date, produced any significant gold showings. A study of the geology of Canada indicates that the Canadian Shield is one of the most prolific gold hosts in the world. A significant portion of Labrador is part of the Canadian Shield and geological intuition tells us that we should expect Labrador to host significant gold deposits. Where are they? Prospecting should be able to help us find these deposits. Who can do this better than the people in the area who know the country and who have seen something in the rocks that arouses their curiousity, but do not know what it is.
Where to Look
Prospecting requires a keen eye for subtle differences in the rock, either the color or general appearance, and an idea of what might be found in an area. Geological maps, available from the Department of Mines and Energy, can give the prospector an idea where the best locations for prospecting might be. For example - minerals are often hosted in certain rock types and faults, or breaks in the earth's surface, allow fluids from deep in the earth which carry dissolved metals including gold, silver and base metals to rise to the surface and alter the rocks. The changes in temperature and pressure of the fluids at the surface allows the contained metals to be precipitated (deposited) in these altered rocks.
Panning of streams is an excellent way to quickly evaluate areas. Gold, base metal sulphides, diamonds, and some other minerals are heavy (gold is 20 times heavier than water), and accumulate in the sand and gravel beds in the rivers. Panning of samples from these locations can quickly and cheaply evaluate the area through which the river passes. In most cases the heavy minerals, particularly gold, can be seen in the pan giving a visual signal of mineralization. The prospector continues up the stream until no more mineralization is seen in the pan. He then goes back downstream to the nearest tributaries and pans them to try to locate the source stream. He continues up the tributary showing signs of mineralization, which should get stronger (more mineralization) as the source is approached. Prospecting in the area defined should result in location of the mineralization in outcrop or as boulders.
Clean rock exposures are usually plentiful along stream/river valleys and can be readily examined. Boulders which have been carried downstream from areas drained by the stream are also found and can be prospected for mineralization.
What to Look For
Gold may occur as visible specks or nuggets in quartz veins. It can also occur in sulphides - pyrite (fools gold) where it would probably not be visible and would require an assay or analysis to determine its presence.
Gold and other elements are often associated with alteration, which is rock that has been changed by hot fluids from deep in the earth. The presence of alteration may be signaled by a change in rock color (i.e. from red to green or brown and then back to red again) over a short distance. The rock often becomes much harder, due to the addition of silica from the fluids and the altered zone often carries quartz and associated sulphides (such as pyrite or fools gold).
Sulphides oxidize or "rust" on the surface. Rusty zones then provide a clue to the presence of sulphides which may carry base metals or gold or both. Gold may be visible, as small specks, in these zones (such as many on the Baie Verte peninsula) or an assay or analysis may be required to detect the presence of base metals and/or gold. Oxidation or staining on the rocks suggests the presence of other elements such as copper (green, blue colors), nickel (green), cobalt (purple), and molybdenite or uranium (yellow). Most sulphides have a metallic lustre (i.e. look like metal) and can be identified by their crystal structure and color.
What You Need
All that is required for a prospecting trip is a hammer, packsack and an interest in the outdoors. Prospector's hammers are hard to obtain in Newfoundland (there are one or two local sources) but brick hammers are usually available at most hardware stores and work well. A gold pan is optional but useful. Maps, a compass, safety supplies, including safety glasses, and outdoor (all-weather) gear should be carried at all times. A yearly, two week long, prospecting course, is held in Stephenville each June. A total of 20 positions are available each year. There is a cost for this course and an application has to made to the Department of Mines and Energy. Information on prospecting, the prospecting course or the mineral potential of Newfoundland and Labrador can be obtained by contacting either :
Mineral Exploration Consultant or Prospectors & Industry Assistance Manager, for the Department of Mines and Energy at the following address:
Department of Mines and Energy
P.O. Box 8700
St. John's, NL
A1B 4J6
July 15, 2010 -
NEW Timmins, Ontario Facility Open
We are pleased to announce that our newest location, Actlabs Timmins, opened for business on July 15th, 2010! This latest addition to our growing network of Northern Ontario laboratories (Thunder Bay, Geraldton, and Red Lake) will be a fully equipped gold lab.
This facility will include the following new equipment:
* 2 Fire assay furnaces (42 pot capacity)
* 1 Cupellation oven (100 place capacity)
* 4 Terminator crushers
* 4 LM2 Pulverizers
* 1 Varian 240 Atomic Absorption
* Gravimetric balances
* State-of-the-art dust control system
Complimentary sample pick up is available in the Timmins and surrounding area.
The Lab Manager for Actlabs Timmins, Jim Gubler, brings many years of experience with him in mangement and operations of sample preparation and fire assay labs worldwide.
Temporarily, this lab will be offering a turnaround time of 10 business days or less; it will be faster once the installation of our Fire Assay and Wet Chemistry departments is completed, over the next 3-4 weeks. Until Fire Assay is fully installed, samples will be prepared in Timmins and delivered the next day to our Ancaster facility.
bull-rider,
If it is Actlabs, they run a 24hr operation. You can pay more bucks for a rush job.
Return of Data
Analytical reports can be returned via hard copy, CD-ROM, electronic mail (internet) or fax copy at the customers’ discretion for no additional charge. Data is normally available in Excel format. Other formats are available on request. We have implemented a Laboratory Information Management System (LIMS). Clients can track samples from sample reception and logging through to preparation, analysis and reporting.
Turnaround Time
Please enquire regarding turnaround time. Normal turnaround depends on the analytical package, sample volume as well as time of year.
Excessively wet samples may slow turnaround time, as will undocumented and unorganized shipments. RUSH Analysis: If you require analyses by a certain date, please ensure that this is clearly noted on the Request for Analysis form. We will make every effort to meet your requirements,
however, rush conditions will require payment of a surcharge (i.e., 3 days – 200%, 1 week – 100%, 2 weeks – 50%).
PAGE 6
http://www.actlabs.com/files/Canada_2010.pdf
If it is Actlabs, they run a 24hr operation. You can pay more bucks for a rush job.
Return of Data
Analytical reports can be returned via hard copy, CD-ROM, electronic mail (internet) or fax copy at the customers’ discretion for no additional charge. Data is normally available in Excel format. Other formats are available on request. We have implemented a Laboratory Information Management System (LIMS). Clients can track samples from sample reception and logging through to preparation, analysis and reporting.
Turnaround Time
Please enquire regarding turnaround time. Normal turnaround depends on the analytical package, sample volume as well as time of year.
Excessively wet samples may slow turnaround time, as will undocumented and unorganized shipments. RUSH Analysis: If you require analyses by a certain date, please ensure that this is clearly noted on the Request for Analysis form. We will make every effort to meet your requirements,
however, rush conditions will require payment of a surcharge (i.e., 3 days – 200%, 1 week – 100%, 2 weeks – 50%).
PAGE 6
http://www.actlabs.com/files/Canada_2010.pdf
Ore Reserves - The fisherman’s view
http://www.pwc.com/en_GX/gx/mining/school-of-mines/pdf/basics-of-mining-accounting-canada.pdf
Proven Developed
The fish is in the boat – you have
weighed it and will keep it for dinner
Proven undeveloped
The fish is on the hook and you can
see it but it is still in the water, where
they always look bigger
Probable
There are fish in the lake – you have
had some bites, have seen them
jumping and heard of others catching
them, but have not caught any yet
Measured and Indicated
You saw something disturb the
surface of the lake – it looked like a
fish
Inferred
There is lake in the distance….
alan0701,
The stock price rise and fall because of the business we are in.
Mineral exploration – A risky business
http://www.pdac.ca/pdac/misc/pdf/10-conv-risky-business.pdf
George Werniuk
A hard-nosed look at the chances of successfully putting a mine into production from a grassroots exploration play should be enough to discourage any right-minded investor. But the
world is full of various personalities and there are some who like to take risks, and those who take high risks, if they are successful, can expect to get high returns. This may be called
gambling by some but rarely by a financial analyst or investment advisor.
Tim Searcy, recently with Wellington West Capital Markets and now president of Auryx Gold Corp., pointed out to an audience of a couple hundred that the chances of putting a mine into
production from the very beginning of the exploration cycle (selecting an area to explore) to actually producing a saleable mineral product (production) are very low.
At each stage of the exploration cycle, the cost increases to advance the target to the next stage. The cycle starts with selecting an area to explore. The target area is explored and a
target is identified for further investigation. The target is then tested. If it is successful a resource evaluation takes place. If the evaluation is successful, the resource can be mined. This is a simplistic sequence without a time-line, but at each stage of the cycle a negative result can kill the project and the process starts anew in a new area. As each successive stage in the cycle is reached more money has to be spent.
To put it into perspective, he gave a real life example: to find a gold mine, a company had to drill test 125 targets in the Abitibi before one could be advanced to the production stage.
Likewise, an example based on Rio Tinto’s experience saw the company test 332 targets before
getting a deposit into production. This is akin to having to look at 1,000 10-year old hockey players to perhaps find one who will eventually play in the NHL.
As discouraging as this may seem there is opportunity to make money on the share price as a company advances a project through the exploration cycle. Searcy put up several slides of the
share price of companies that were successful in turning grassroots discoveries into producing mines. Within that cycle there are times when share prices generally rise and when prices
decline even though the project has successfully passed a hurdle.
Share prices are generally low in the early stages of the cycle. Selecting an area and selecting targets to test are associated with low prices. If exploration drilling is successful share prices tend to rise as the potential of the new discovery has to be assessed. Once the target is outlined, share prices tend to sag because the next phase is to evaluate the resource. This is a
long and costly process that does not produce any news until the results of the resource evaluation are announced. If the results are positive, the share price usually starts to increase in
anticipation of building a mine. If the resource evaluation is negative the project comes to a halt and share prices decline drastically. As mine production approaches, share price increases in anticipation of a cash flow from the mining operation.
Searcy points out that money can be made by knowing at what stage of the exploration cycle a project is in. Knowledge is an important investment tool.
Gump,
The company have backers who put up 5 million dollars. The BVIG to KATG conversion will take place at some point. If the drill results come back very favorable, we won't have to worry whether we have enough BVIG/KATG shares issue for trading.
WHY
We will have BIG money investors wanting to buy in. Probably first offer will go to our current backers.
gump90,
gump90
BVIG/KATX did take rock samples. How they determined what were in the rocks I don't know.
pro-trader
I don't think anybody can doubt there is GOLD at Handcamp.
Mine exploration of the old days was an art however it has change to a science with technology.
Also there are protocols to follow to prove a property.
Thus far each stage BVIG/KATX has gone thru, the results keep coming up with good assays showing significant amounts of GOLD.
The drilling will prove just how much GOLD.
BVIG/KATX concerning the Handcamp property is at the stage (EX-4) of verification of anomalies and showings.
The objectives are to investigate the cause of anomalies.
Find mineral showings.
Acquire additional claims, leases and properties.
EVALUATION METHODS
Geological mapping and other surveys. Trenching, drilling and sampling. (This has been done)
Appraisal of results, recommendations for further work, and selection of new targets. (THIS IS WHAT WE ARE WAITING FOR)
Based on the last PR we know more drilling is already in the plans or being done.
GENERALIZED MODEL OF MINERAL RESOURCE DEVELOPMENT
http://mmsd.mms.nrcan.gc.ca/stat-stat/expl-expl/pdf/04_e.pdf
Mineral exploration – A risky business
http://www.pdac.ca/pdac/misc/pdf/10-conv-risky-business.pdf
George Werniuk
A hard-nosed look at the chances of successfully putting a mine into production from a grassroots exploration play should be enough to discourage any right-minded investor. But the
world is full of various personalities and there are some who like to take risks, and those who take high risks, if they are successful, can expect to get high returns. This may be called
gambling by some but rarely by a financial analyst or investment advisor.
Tim Searcy, recently with Wellington West Capital Markets and now president of Auryx Gold Corp., pointed out to an audience of a couple hundred that the chances of putting a mine into
production from the very beginning of the exploration cycle (selecting an area to explore) to actually producing a saleable mineral product (production) are very low.
At each stage of the exploration cycle, the cost increases to advance the target to the next stage. The cycle starts with selecting an area to explore. The target area is explored and a
target is identified for further investigation. The target is then tested. If it is successful a resource evaluation takes place. If the evaluation is successful, the resource can be mined. This is a simplistic sequence without a time-line, but at each stage of the cycle a negative result can kill the project and the process starts anew in a new area. As each successive stage in the cycle is reached more money has to be spent.
To put it into perspective, he gave a real life example: to find a gold mine, a company had to drill test 125 targets in the Abitibi before one could be advanced to the production stage.
Likewise, an example based on Rio Tinto’s experience saw the company test 332 targets before
getting a deposit into production. This is akin to having to look at 1,000 10-year old hockey players to perhaps find one who will eventually play in the NHL.
As discouraging as this may seem there is opportunity to make money on the share price as a company advances a project through the exploration cycle. Searcy put up several slides of the
share price of companies that were successful in turning grassroots discoveries into producing mines. Within that cycle there are times when share prices generally rise and when prices
decline even though the project has successfully passed a hurdle.
Share prices are generally low in the early stages of the cycle. Selecting an area and selecting targets to test are associated with low prices. If exploration drilling is successful share prices tend to rise as the potential of the new discovery has to be assessed. Once the target is outlined, share prices tend to sag because the next phase is to evaluate the resource. This is a
long and costly process that does not produce any news until the results of the resource evaluation are announced. If the results are positive, the share price usually starts to increase in
anticipation of building a mine. If the resource evaluation is negative the project comes to a halt and share prices decline drastically. As mine production approaches, share price increases in anticipation of a cash flow from the mining operation.
Searcy points out that money can be made by knowing at what stage of the exploration cycle a project is in. Knowledge is an important investment tool.
Resource evaluation
http://en.wikipedia.org/wiki/Mineral_exploration
Main article: mineral resource classification
Resource evaluation is undertaken to quantify the grade and tonnage of a mineral occurrence. This is achieved primarily by drilling to sample the prospective horizon, lode or strata where the minerals of interest occur.
The ultimate aim is to generate a density of drilling sufficient to satisfy the economic and statutory standards of an ore resource. Depending on the financial situation and size of the deposit and the structure of the company, the level of detail required to generate this resource and stage at which extraction can commence varies; for small partnerships and private non-corporate enterprises a very low level of detail is required whereas for corporations which require debt equity (loans) to build capital intensive extraction infrastructure, the rigor necessary in resource estimation is far greater. For large cash rich companies working on small ore bodies, they may work only to a level necessary to satisfy their internal risk assessments before extraction commences.
Resource estimation may require pattern drilling on a set grid, and in the case of sulfide minerals, will usually require some form of geophysics such as down-hole probing of drillholes, to geophysically delineate ore body continuity within the ground.
The aim of resource evaluation is to expand the known size of the deposit and mineralisation. A scoping study is often carried out on the ore deposit during this stage to determine if there may be enough ore at a sufficient grade to warrant extraction; if there is not further resource evaluation drilling may be necessary. In other cases, several smaller individually uneconomic deposits may be socialised into a 'mining camp' and extracted in tandem. Further exploration and testing of anomalies may be required to find or define these other satellite deposits.
If we use the Labortory we used in the past (see PR dated 3/1/10 http://www.katexploration.com/PressReleases/March%201%20-%202010_Gold%20in%20Soil%20Samples.pdf )
then Actlabs in Ontario Canada is the one and a very good one with the lastest tech.
http://www.actlabs.com/page.aspx?menu=62&app=208&cat1=745&tp=2&lk=no
2009 - Field Emission Gun Scanning Electron Microscope (FEG SEM)
NEW!! Actlabs is proud to be the first and only organization within North America to have a Field Emission Gun Scanning Electron Microscope (FEG SEM)-FEI Quanta 650 with two EDX detectors and MLA quantitation software. The FEG SEM carries many advantages compared to that of a traditional SEM. With the fine-point electron source delivered by the Field Emission Gun, the instrument provides higher resolution (sub micron)imaging than a traditional W-filament SEM.Accurate automated quantitation of mineralogy is a cornerstone of our new Geometallurgy Department. This instrument is also currently being used to provide support for other nanotechnology applications for materials characterization, environmental mineralogy, forensic mineralogy, life sciences and aerosol and dust particulates.
Also see:
Mineral Liberation Analyzer/Geometallurgy
http://www.actlabs.com/files/Mineral_Liberation_Analyzer-
Geometallurgy.pdf
Request For Analysis (notice the "RUSH")
http://www.actlabs.com/files/Request_for_Analysis.pdf
Fire Assay
http://www.actlabs.com/page.aspx?menu=72&app=240&cat1=619&tp=2&lk=no
The method of choice for gold analysis through time has been fire assay.
Return of Data
Analytical reports can be returned via hard copy, CD-ROM, electronic mail (internet) or fax copy at the customers’ discretion for no additional charge. Data is normally available in Excel format. Other formats are available on request. We have implemented a Laboratory Information Management System (LIMS). Clients can track samples from sample reception and logging through to preparation, analysis and reporting.
Turnaround Time
http://www.actlabs.com/files/Canada_2010.pdf
Please enquire regarding turnaround time. Normal turnaround depends on the analytical package, sample volume as well as time of year. Excessively wet samples may slow turnaround time, as will undocumented and unorganized shipments. RUSH Analysis: If you require analyses by a certain date, please ensure that this is clearly noted on the Request for Analysis form. We will make every effort to meet your requirements, however, rush conditions will require payment of a surcharge (i.e., 3 days – 200%, 1 week – 100%, 2 weeks – 50%).
A laboratory with a 10-day turn around
10 Days Guaranteed
What are you waiting for?
http://www.accurassay.com/analysis/content.php?id=11
Accurassay's industry-leading 10 Days Guaranteed program adds real value to your project by giving you fast, reliable mineral analysis at a competitive price. We have "put our money where our mouth is" when it comes to service and raised the bar! First offered in 2006, this program promises to get you your results within 10 Days or we will give you a 10% discount on the price of your analysis (see program details below). Reliably fast analysis or we give you a 10% credit! That's a win-win situation for our customer.
Our 10 Days Guaranteed Program
For customers on our 10 Days Guaranteed Program, Accurassay Laboratories Ltd. (Accurassay) will provide analytical results by the end of the 10th business day subsequent to the logging in of samples at any of our locations in Canada subject to the following terms and conditions:
1. This guarantee applies only to selected accredited methodologies as listed in the customer’s signed, numbered Service Agreement with Accurassay Laboratories.
2. The 10 day period of this guarantee will not commence until samples have been logged into our system. This requires meeting all of our required protocols for sample submission as outlined in our service agreement.
3. While Accurassay makes every effort to manage sample volumes and maintain the 10-day turnaround, we reserve the right to suspend this guarantee at any time. We assure our customers that this is a measure of last resort and would only be taken due to extreme circumstances.
4. Maximum daily volumes under this guarantee are limited to 500 samples.
5. Maximum weekly volumes are limited to 2,000 samples.
6. Samples received beyond the daily and weekly maximums are excluded from this guarantee.
Should Accurassay accept samples under the 10 Days Guaranteed program as specified here and then subsequently fail to provide results within the 10-day time frame, customers will receive a 10% discount on their contract price for the analyses subject to the 10 Days Guaranteed Program. All other analyses will continue to be invoiced at the contract price, or as otherwise agreed. This discount will be credited to the invoice when issued.
NOTE: This program is not applicable to all customers and will only be honoured if a signed Customer Agreement explicitly including these terms is in place . All other work received by Accurassay will, by default, not be performed under the terms of our 10 Days Guaranteed Program.
Precious Metals Analysis
Accurassay Laboratories is pleased to offer a high calibre analytical capability, with high sample capacity, reliable quality and fast turnaround service for these key precious metals: Au, Ag, Pt, Pd, Rh. All of our precious metals analyses are performed using our Fire Assay procedure combined with multiple finishes( AAS, ICP, and Gravimetric). These combinations allow for a wide spectrum of detection limits (from 1ppb to 1%) and raw sample concentrations.
Gold
http://www.accurassay.com/analysis/content.php?id=9
Historically, the analysis of gold has been performed using a 30g sub-sample during the fire assay procedure. A 50g sub-sample can also be used to help increase the sensitivity of gold detection while decreasing the sampling error. However, high levels of base metals, chromium, selenides and tellurides can reduce the effectiveness of the gold collection. Accurassay Laboratories may decrease the subsample size during fusion to overcome these effects.
For a more comprehensive analysis of gold in rock/core, we would recommend the Pulp Metallic procedure. This procedure is able to overcome the “Nugget Effect” of gold by increasing the sub-sample size to 1,000g and physically collecting the free gold within the system using a 150 mesh (106µ) sieve. This procedure is most effective when the whole sample is used for the analysis. The sub-sample is pulverized to ~90% -150 mesh (106µ) and subsequently sieved through a 150-mesh (106µ) screen. The entire +150 metallics portion is assayed along with two duplicate sub-samples of the -150 pulp portion. Results are reported as a weighted average of gold in the entire sample.
For the analysis of gold in soils, sediments, and tills we recommend using a 50g sub-sample for the fire assay procedure with an ICP finish with the lower detection limit of 2ppb.
For a more comprehensive analysis of both the gold content of the sample and the particulate size of the gold within the material, we recommend a Screen Metallic analysis. Screen Metallics analysis includes the crushing of the entire sample to 90%-10 mesh and using a Jones Riffler (unbiased splitter) to split the sample to a 1kg sub-sample. The entire sub-sample is pulverized and subsequently sieved through a series of meshes (80, 150, 200, 230, 400 mesh). Each fraction is then assayed for Gold (maximum 50g.). Results are reported as a calculated weighted average of Gold in the entire sample.
Gold Assay Services
http://www.intertek.com/minerals/gold-assay/
Industries serviced: Minerals
Mineral Assay of exploration samples for Gold, including routine exploration and ore reserve samples.
Intertek Genalysis are experts in providing Gold exploration and production assay data to clients on a global basis.
The primary criteria for selection of the most appropriate and cost effective Gold Assay method include:
* Type of Sample
* Mineralogy of Sample
* Presence or Absence of Coarse Gold
* Other Element Testing Required?
For Gold Assay, there are two basic testing options, Aqua Regia or Fire Assay:
Aqua Regia Assay testing for Gold is generally more accurate at lower levels, less than 0.2 ppm. In addition, many other elements can be analysed at the same time for little incremental cost. However, with Aqua Regia, Gold associated with graphitic shales may not be dissolved, and massive sulfides can be difficult to completely digest both situations require pre-roast or fire assay. Gold associated with, or encapsulated in, acid insoluble minerals may not be dissolved. Some of the analytes may only be partially extracted, depending on mineral type. Thus, Aqua Regia is not suggested for all sample types when conducting gold assay testing.
Fire Assay or Lead Collection Fire Assay testing for Gold has the advantage of being good for almost all mineral types, though it is more expensive than Aqua Regia testing. Highly mineralized samples require specific fluxes, and/or reduction in sample weight significantly below the nominal charge, for correct fusion and quantitative recovery of Gold. Very experienced assayers are required when analysing a variety of sample types.
To avoid related Fire Assay problems of disposal of large volumes of lead pots, generally pots are recycled. The use of recycled pots creates a potential problem of carry-over from previous sample in that pot. Intertek discards pots where the sample was greater than 5g/t. Use of new pots once only adds to cost. Health risks for operators and new industry amendments will increase lead monitoring in blood, adding to the cost of using Fire Assay. Fire Assay produces waste products containing Lead, causing issues with ever increasing restrictions and higher costs of disposal. Lead collection fire assay likely to become very expensive in the future.
Intertek mineral assay personnel are experts with years of mining and mineral industry experience. Please contact Intertek to learn more how we can assist you with your mineral Gold Assay requirements.