Analysis - 43101 ounces by level at Lamaque

I went back to Peggy's Sept'07 Denver Gold Forum presentation to confirm, both verbally and via presentation slides, my understanding of which Lamaque zones are located within 1000 ft of the surface (per my previous post). Yes, Peggy reconfirmed my understanding in that presentation, both verbally and on the slides. Ounces located in the North Wall Zone, the Sigma West Zone (+ Bedard Dyke, currently being drilled), the Road Zone and the Cross-Over Zone are all located within 1000 ft (300 m) of the surface. In addition, the Sept'07 numbers presented for those locations (used in the presentation) were identical to 43-101 ounces currently being reported for those zones.


Here is a percentage breakdown of ounces by Lamaque level location:

*0 to 1000 ft (300 m) of the surface = 48% (2,656,440 ounces)

*1000 to 2000 ft = 13% (715,854)

*2000 to 2600 ft = 4% (244,271)

*Unknown locations (unknown to me) = 34% (1,865,958)

*West Plug o/p = 1% (69,163)


More detailed breakdown of ounces by Lamaque level location:

0 to 1000 ft (300 m) of surface:

* North Wall Zone = 664,380 ounces
* Sigma West Zone = 93,540 (Bedard Dyke to come)
* Road Zone = 241,947
* Cross-Over Zone = 1,656,573

1000 to 2000 ft, Below Sigma Pit = 715,854

2000 to 2600 ft, Below Sigma Pit = 244,271

Unknown locations (unknown to me):

* Sigma Below Open Pit = 1,711,213 ounces
* Lamaque Main Mine = 128,968
* Lamaque #2 Mine = 25,777

West Plug o/p = 69,163

And, don't forget that most of these ounces were based on a 2.5 cutoff grade. They need to be recalculated using a 2.1 cutoff, which will result in a substantial increase in 43-101 gold resources.