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"Today’s announcement is in response to numerous inquiries from investors and analysts at the Prospectors and Developers Association of Canada (PDAC) convention,"
Perhaps an analyst or two were kicking the tires a tiny bit at PDAC. As with everything else, analyst coverage will likely be depending on financing.
The Bedard Dyke might end up being a gem. They drilled a few holes back in 2005, but likely not enough to profile substantially into the resource count as yet, and certainly not enough info to add to reserves. I think they were also able to gather a lot of good info on the Bedard Dyke while mining the open pit (as the pit walls leads into the Bedard Dyke). All of this info likely provides them with a lot of hints on the potential of the dyke.
As we can see from page 12 of the Corp. Presentation, it starts at the surface and goes down very deep. This is a new discovery (albeit 2005) so it likely hasn't been mined before (especially since it hasn't even been defined as yet). The first couple of holes (12.8 g/t, 14.9 g/t) shows potential for high grade areas.
Once money is available, my guess is that this will be a high priority drilling area at Lamaque, to bring into reserves and to initiate development. If all goes positive, I can see us mining higher grade ore from the Bedard Dyke in about 2-3 years. Without a lot more drill results, it's impossible to know how many ounces are located there. Based on the size and depth of the dyke, and the grades thus far (albeit very limited drill holes), I'm hoping it's between 100,000 and 300,000 ounces. Again, it's impossible for anyone to know.
In addition, it would be great if they could simultaneously develop the newly discovered bulk mineable zone (announced recently). It's not clear how many of the 700K (428K M&I) new ounces are in the bulk mineable zone, but likely a decent amount.
The (potential) bulk mineable zone starts at the surface also, and goes down 2,000 feet. Once they get the cash, they should try to drill these ounces into reserves, and then begin development of the area (if easily accessible of course). If they put this as a priority also (as well as the Bedard Dyke) then mining this area in about 2-3 years might be possible also.
Lamaque would truly be an exceptional (low cost) operation if it was to reach a stage where it is producing gold ounces from both the (potential) high grade Bedard Dyke area and from the new (potential) bulk mineable zone - as we know, high grade ounces as well as bulk mineable ounces are much cheaper to mine, and an even greater benefit when they start at the surface.
IMO, it's a goal they should work towards, once they get financing.
2 comments:
"Today’s announcement is in response to numerous inquiries from investors and analysts at the Prospectors and Developers Association of Canada (PDAC) convention,"
Perhaps an analyst or two were kicking the tires a tiny bit at PDAC. As with everything else, analyst coverage will likely be depending on financing.
"Sigma West (Bedard Dyke) 22,050 Ounces of Gold"
The Bedard Dyke might end up being a gem. They drilled a few holes back in 2005, but likely not enough to profile substantially into the resource count as yet, and certainly not enough info to add to reserves. I think they were also able to gather a lot of good info on the Bedard Dyke while mining the open pit (as the pit walls leads into the Bedard Dyke). All of this info likely provides them with a lot of hints on the potential of the dyke.
As we can see from page 12 of the Corp. Presentation, it starts at the surface and goes down very deep. This is a new discovery (albeit 2005) so it likely hasn't been mined before (especially since it hasn't even been defined as yet). The first couple of holes (12.8 g/t, 14.9 g/t) shows potential for high grade areas.
Once money is available, my guess is that this will be a high priority drilling area at Lamaque, to bring into reserves and to initiate development. If all goes positive, I can see us mining higher grade ore from the Bedard Dyke in about 2-3 years. Without a lot more drill results, it's impossible to know how many ounces are located there. Based on the size and depth of the dyke, and the grades thus far (albeit very limited drill holes), I'm hoping it's between 100,000 and 300,000 ounces. Again, it's impossible for anyone to know.
In addition, it would be great if they could simultaneously develop the newly discovered bulk mineable zone (announced recently). It's not clear how many of the 700K (428K M&I) new ounces are in the bulk mineable zone, but likely a decent amount.
The (potential) bulk mineable zone starts at the surface also, and goes down 2,000 feet. Once they get the cash, they should try to drill these ounces into reserves, and then begin development of the area (if easily accessible of course). If they put this as a priority also (as well as the Bedard Dyke) then mining this area in about 2-3 years might be possible also.
Lamaque would truly be an exceptional (low cost) operation if it was to reach a stage where it is producing gold ounces from both the (potential) high grade Bedard Dyke area and from the new (potential) bulk mineable zone - as we know, high grade ounces as well as bulk mineable ounces are much cheaper to mine, and an even greater benefit when they start at the surface.
IMO, it's a goal they should work towards, once they get financing.
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