Replies to post #10960 on Explor Resources Inc. (fka EXSFF)

[CDLGold]

Retire Today,
My gut feeling,is what I posted a while back.The last
2 estimates were done with a stricter grading scale curve,so to
speak.Also,the spacing of drilling needs to be within 50 meters,
for the ounces to count.Everybody knows,the more holes drilled
with significent gold,the more ounces you have.The majors know this.Also,it is my understanding that more than 1 company wanted
to buy TPW and EXS wound up getting it at a good price.At least 1
other company also wanted KC and EXS ended up with that 1 also.
The way I see it,TPW should be very valuable with the amount of
gold on that property.Any time more than 1 company tries to buy a piece of property,that property is worth something of value.JMHO.
CDLGold

[Destinator]

I have not seen a 43-101. I see some update on calculations. A full 43-101 will not occur until they can report 1.3 to 1.4 million ounces and even then I am not sure that it would be wise to pay for such a report in this market.

That said, the fact that the last 'more official' 43-101 changed the way in which the reserves are being calculated does not change the fact that the gold is there. When Pearl Lake was mined (HMC) they did not worry about 43-101 reports. They knew the gold was there and drilled for it after they mined the spots they identified. This kept exploration costs down to a minimum. I suspect that is why Chris is now focusing on the shallow open pit potential areas. In this market, it is the only way to go. If the market changes, that approach may be supplemented by a few more deep drill holes.

I have not studied the release yet but I think that readers can be misled by thinking that the estimate portion pertaining to the shallower open pit area is spread out over two kilometers. It is not. Yes there is gold over a 2 km strike length but I strongly suspect that the area used to calculate the reserves for the purposes of the 43-101 is about 1/20th or less of that 2km zone. What this means is that the open pit potential is probably being way understated by virtue of the need to space holes closely before the full 2km zone (still open along strike) can be included in any calculations. Of course trying to meet the 43-101 standards for that full length is not feasible so Chris needs to continue focusing on the are of TPW that he is currently focused on.

The original estimate projection of 3 million ounces would be met if it was not for the change in calculations that took place. That does not mean the gold is not there. It just means that we will not be able to show it in 43-101 format. Someone will have to mine TPW the way the did Pearl Lake and reap the profits for the next 100 years. There is no doubt in my mind that the majors see this. They are likely just waiting for an opportune moment to pounce.

Of course everyone should do their own due diligence. I am not a geologist nor am I a licenced broker, nor do I have any inside information. All I have is the knowledge that I have acquired through my years of investing in gold and my common sense.

If I get time, I will try to write some more - but in essence that is my take on (not just this latest release) but the overall 43-101 process for TPW. That is The Porcupine West - not TWP as in township as so many think it is.