Tuesday, May 24, 2022 8:50:48 AM
Therefore the article your link references is simply back of the napkin math based on a few drill holes. There’s no guarantee that any general accepted practices or standards were followed in calculating those results.
Also, there is a significant difference between an initial assessment and final feasibility studies. There's a reason the SEC doesn't allow initial assessments to be used as the basis for disclosure of mineral reserves.
If a company wants to throw around the term mineral reserves, the SEC requires a bona fide final feasibility study.
A feasibility study is more comprehensive, and has a higher degree of accuracy. It must contain mining, infrastructure, and process designs completed with sufficient rigor to serve as the basis for an investment decision or to support project financing. It's the report most mining companies use to secure financial backing to commence mining.
All Mexus did in this assay was dig a couple of holes and send it to a lab. Then, without utilizing any generally accepted standards, made some very general assumptions based on the very limited number of holes dug and came up with an over-inflated amount of potential reserves.
If these assays were so credible and so amazin' and the results so spectacular there would be credible named JVs and mining companies jumping all over this property. There's a reason that's not happening. It's because they all see the same thing.... these reports with these assays don't mean crap.
Recent MXSG News
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 08/02/2024 08:59:36 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM