Saturday, January 16, 2010

Carolin – 2 more intriguing possibilities

Please note that I do not own any shares of Module Resources. I do not have an opinion or recommendation or advice as to whether anyone should purchase (or not purchase) Module shares. I am providing info on this property strictly due to Century’s ownership interest.


1) There is a decent possibility that the size of the open pittable area could turn out to be 1500m by 500m (which is a very nice size I think). One should be fully award that it is only an unproven theory at this particular moment in time (although having good potential).

2) There is a decent possibility that the Carolin u/g mine could be extended far to the north and also further at depth (currently open in both directions).


I have looked at an old map of the property and looked more closely at the recent published info. Here are some details with regards to the 2 possibilities:


1) Open pit

The results I have identified so far have been for the McMaster open pittable zone. Historically, only the west of that zone was drilled. The recent drill results confirmed the historical mineralization to the west, but also confirmed excellent extensions / new zones to the east, south and north. The historic pit resource was small, but these expansions should make the resource total much higher.

Now, here is where it gets interesting. “In addition to the McMaster Zone, the Lorainne Zone occurs approximately 800 metres to the northeast of the McMaster Zone. Limited drilling in 1995 on the Lorainne Zone has identified mineralized zones grading from 0.56 to 1.91 gm/ton gold over 4 metres. Hole L3-95 assayed 36.8 gm/ton over 1.2 metres. The Lorainne Zone is open to the southeast. The recent drilling (2009) together with previous exploration including soil geochemistry, geological mapping and diamond drilling, indicates that the McMaster and Lorainne Zones may be contiguous. This interpretation would indicate the area for potential open pittable resources has an extent of approximately 1500 metres by 500 metres.”

Of course, there needs to be a major drill program in order to fully prove this theory. This could be significant, as it could confirm 800 metres of new mineralization between the 2 known pittable zones (McMaster and Lorainne). I think they are planning a program for this year.


2) Underground mining

The Carolin u/g mine already has a resource total of 190,000 ounces @ 4.41 g/t grade (non-43101). It is directly located 1200 metres south of the McMaster (pittable) Zone. The McMaster mineralization appears to be similar to mineralization u/g at Carolin. There is a belief that deeper drilling at McMaster, coupled with northward drilling at u/g Carolin, could demonstrate that the 2 areas are contiguous. If the drilling proves this theory to be true then basic logic would suggest that most of the 1200 metres (if not all) between the 2 mineralized areas could also prove to be mineralize. Again, they need to launch a major drilling program. The Carolin/Ladner Mine has been rehabilitated and has the necessary permit in place to carry out an underground exploration program.

“Alteration and style of mineralization in the McMaster Zone is similar to that at the Ladner Mine (formerly called Carolin Mine)… It is anticipated that with deeper drilling on the McMaster Zone and further underground exploration in the Ladner Mine, gold mineralization may be contiguous and thereby extending the underground resource potential.”

1 comment:

muckmonster said...

hello again production05, once again your thoughts are valued. I was wondering though you seem very in the know. Could you enlighten myself to some of your back ground education training so forth just being nosey. you seem on the ball and being new to cmm I'am all ways on the look out for educated opions.