(posted on Century's website)
They are probably getting ready for the Calgary Resource Conference (early April).
The presentation is becoming more informative all they time - good job!
Century believes that the Lamaque complex has future production potential of at least matching 9 million historical production ounces.
Here is what really stands out for me. Century believes that the West Plug has potential to go down deep, almost as far as the Lamaque Plug. As we know, the Lamaque Main Plug produced significant bulk mineable (cheap cash cost) ounces for Teck Cominco ("Teck") in the past. Century believes that the remaining bulk mineable deposit for both plugs could have potential for 2 million ounces. This new (significant) underground potential for the West Plug doesn't surprise me. I remember reading about how past geologists (that worked on the property) were suggesting that West Plug likely has million ounce potential.
I think they got their accounting/finance specialist in place now (Reda Akladios?).
As a side note, I think I located data from a second Northbelt deposit - 45,000 ounces @ 10.30 g/t grade. This is in addition to the first deposit - 130,000 ounces (before applying a standard 95% recovery rate) @ 4.00 g/t grade. That would mean that I have been able to independently account for 175,000 of the 250,000 Northbelt ounces so far. I hope to post some details about the new data at some point later.
2 comments:
Century's Northbelt property (Yellowknife) covers 15 kilometers of strike length along the volcanic belt. That belt itself extends well beyond the Northbelt property (both north and south) and has produced at least 10 million ounces of gold historically.
Within Northbelt's 15 kilometer strike length (on the south end) is our Crestarurm deposit. Not only does the Crestarurm deposit house these 45,000 dilled ounces (10.3 g/t) but it has numerous other gold showings (with the potential to host a porphyry
gold system), and also rich zinc showings.
Here is a brief description from a previous annual report by Century:
"The claims contain the Crestarurm deposit, which has been tested in the past by a shaft and exploartion
drifts. In addition the claims have a large base metal showing at the north end of the claim group that contains several concordent zinc rich zones within the host volcanic stratigraphy. The mineralization is persistent both on strike and dip for considerable distances. The property also contains multiple gold showings and has the potential to host a porphyry gold system."
Peggy has said that the property currently has a resource count of 250,000 ounces of gold. However, that appears to be just for starters. With a 15 kilometer strike length, and the proven gold production history of other deposits along the volcanic belt, one cannot help to think that the resource potential is subtantial.
As mentioned, of the 250,000 ounces, I think I have been able to find info on 175,000 of those ounces thus far:
1) An exploration company called Nebex drill-delineated the geological reserves in the 90s - 130,000 (1 million tonnes @ 4.00 g/t). The deposit is open both along strike and at depth.
2) I found some info on the Crestaurum gold deposit from a technical presentation that was done in 2002 - 45,000 ( 136,100 tonne @ 10.30 g/t). It was based on exploration drilling to only a maximum depth of 200 metres (thus it is shallow).
http://gac.esd.mun.ca/gac_2002/search_abs/sub_program.asp?sess=98&form=10&abs_no=273
I have one more note about the 9 million ounces of future potential production from the Lamaque Complex. I don't think they are including future ounces from Century's properties located beyond the borders of the Lamaque Complex, as those properties are likely too early stage (not enough data as yet).
We know that past drill holes have shown good gold content on the Central Diorite, Southern Diorite, Lac Langlade and Auric West properties. There is also the Aumaque property (located 2 to 3 Kilometers away) with 200,000 ounces in gold resource (6.0 - 8.5 g/t), which already has a shaft and levels in place. Then there is Sigma II (located about 20 kilometers away) which is open at depth, with potential for underground mining.
All of that extra potential in the Val d'Or area would suggest that the future production potential could eventually go well beyond 9 million.
I guess it's a matter of doing the work over time (especially once good cash flow from production is available) and see what we end up with.
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