This upcoming initiative is under May 2010 on the ``Lamaque Gold Mine Path to Production`` check list schedule, on page 17 of the March Corporate Presentation.
From the March 1st NR:
``The Company is also reviewing tenders for an upcoming 150,000 foot (45,700+ meter) underground drill program at Lamaque over a three-year period.``
It looks like our new drill program will have a deep drilling component. It sounds like it will be a very flexible drill program, with both near-surface drilling (ounces located zero to 1000 ft) and deeper drilling. This could be a very exciting drill program. As you know, we identified a number of high grade zones in 2009 via actual historical drill results (of unmined areas) that were mapped together by our Vulcan modeling team.
My guess is that some of these zones can be reached prior to dewatering. Some of the zones go up to the surface and the deepest zones go down to only 2600 ft (at least from what we have mapped out thus far - they could extend further down once we map out the lower levels). Most of the zones may be bulked mined (very cost effective mining). IMO, major success in expanding and infilling many of these zones will move Lamaque into an even greater world class gold mine category.
Of course, it`s not clear if the company is targeting these high grade zones with this particular drill program, but it would be surprising if they are not (especially if they are able access these high grade zones).
Also, keep in mind that this is a 3 year exploration program. Century will have many objectives in those 3 years, and they will not all involve sexy high grade zones. For example, Century will need to upgrade the 1.7M ounces in the Cross-Over section into reserves to be mined. This will be a very fruitful initiative for Century shareholders, but it may not be as headline capturing as drilling high grade zones.
It`s not clear on the order of zones to be drilled over the 3 year period. It would be wise to drill some of the high grade/high thickness zones first in order to demonstrate the bulk mining potential of the mine, but I don`t know what the plan looks like.
Below is all info from Century`s 2009 NRs (relating to these high grade zones), which I have posted on the blog in this format a couple of times before (Of note, all of this potential is over and above the great success we are currently having with drilling the Bedard Dyke):
1) April 6’09 NR – discovery of 3 completely separate new zones with bulk mining potential, located at points between the surface and 2,000 feet down. ‘Of more significance, is that some of these holes are step outs of over 300 feet from the main mine areas. There is a high probability that the ore extends from the main mine workings to these newly modeled intersections.’
Zone 1) – drill hole#1243 – 4.6 meters true thickness @ 30.2 g/t gold
- drill hole #369 – 10.6 meters true thickness @ 22.0 g/t gold
- drill hole #10875 – 1.7 meters true thickness @ 37.3 g/t gold
Zone 2) – drill hole #1676 - 3.0 meters true thickness @ 29.1 g/t gold
Zone 3) – drill hole#9251 – 4.2 meters true thickness @ 23.5 g/t gold
– drill hole#9477 – 7.2 meters true thickness @ 8.5 g/t gold
2) June 23’09 NR – located between 2,000 and 2,600 feet below the surface (231,333 ounces of M&I and 12,938 Inferred ounces added)
*drill hole #5729 – 15.6 meters true length @ 27.3 g/t gold – “a diamond drill hole within a dyke structure containing 51 true vertical feet grading 27.3 grams per tonne including 3.5 feet of 363.4 grams per tonne”
*drill hole #6414 – 9.0 meters true length @ 7.8 g/t gold
*drill hole #9391 – 7.5 meters true length @ 20.2 g/t gold
*drill hole #12257 – 6.3 meters true length @ 9.5 g/t gold
*drill hole #15021 – 14.1 meters true length @ 7.0 g/t gold
*drill hole #15581 – 18.2 meters true length @ 6.9 g/t gold
*drill hole #16539 – 10.6 meters true length @ 9.2 g/t gold
*drill hole #16542 – 21.6 meters true length @ 4.2 g/t gold
3) February 24’09 NR - “These newly defined dyke and shear structures indicate the presence of large virgin ore zones, which may be bulk mined within 2,000 feet of surface.” – located at 1000 to 2000 ft below the surface
The NR included 428,357 new M&I ounces and 285,452 new Inferred ounces. It is not likely that all of the new resources on this particular NR have bulk mining potential, but some of the ounces should have strong potential. Here are some drill results from this NR that certainly looks to have bulk mining potential:
*drill hole #16178 – 21.9 meters true length @ 8.3 g/t gold
*drill hole #16179 – 14.1 meters true length @ 10.5 g/t gold
*drill hole #14580 – 27.6 meters true length @ 9.0 g/t gold
*drill hole #16028 – 12.3 meters true length @ 3.8 g/t gold
*drill hole #14027 – 9.1 meters true length @ 5.5 g/t gold
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