Wednesday, October 27, 2010 10:56:40 AM
There are at least four known primary veins on the property. The property also has numerous dump sites from workings which occurred in the late 1880s until about mid-1930. Early records show the veins ran at about 3.6 oz. per ton. An excerpt from the geological report, which states "Based on the existing surface mapping, there is approximately 1.7 million tons of ore grade tonnage down to the 9000 foot level for the four veins. Assuming that the veins can be mined down to at least the 9000 foot level, gold in place should be between 352,000 (at 0.207 ounces per ton) and 6,000,000 (using historical average of 3 ounces per ton) ounces of gold in the four veins."
People do the math. based on current gold prices, that is a range os $457,600,000 to $7,800,000,000.
Assuming that they will be able to impliment a definitive agreement as outlined in their last PR, this could get interesting in the near term future.
mowsmows
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