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North American Palladium Limited ┼×irket Message Board

  • tristrem tristrem Apr 29, 2008 9:00 PM Flag

    Richest Pd Mine on the Planet?

    So, do the core sample results demonstrate that PAL possesses the richest (in terms of grams per ton) palladium mine on the planet?

    If so, this should be fairly easy to explain to the lay public, yes? Who wouldn't want to own a piece of the richest mine on the planet, eh?

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    • Yes DEFINITELY. The discovery at PAL now makes it the world's richest PGM mine.

      First go to SWC web site and read this:

      ==== QUOTE ====
      Stillwater Complex got its start
      about 2.7 billion years ago...

      That's when geologic forces formed what would become the J-M Reef -- The world's highest-grade known ore body of platinum group metals.
      ==== QUOTE ====

      Note the last sentence, HIGHEST GRADE known ore body of platinum group metals!!!!

      So how high is counted as highest? Regular SWC filings report that the ore grade is about 0.5 ounces PGM metals per ton. One troy ounce is 31.1 grams. So that's 15 or 16 grams per ton. That is the highest grade in the world so far.

      But now PAL is reporting ore grade up to 29 grams PGM metals per ton, almost twice as high as SWC mines. That's almost one ounce per ton. That, is definitely world's new record of highest grade ore body of PGM metals known.

      So there is no exageration here. Plain fact.

    • Re-iterate. PAL's drill result is the highest known grade in the whole world now!!!

    • I'm still skeptical of your claim that PAL's new mine is the highest known grade in the world. I suspect that when they ever start mining the ore that the grade will prove to be much lower overall than the 29gm/ton found at drill hole 007. Most of the drill holes were much lower than 29/gm ton. Would be nice to ask Excell on the CC to do some interpretation of the drill results.

    • To folks who suspect that I cherry pick the best grade from the drilling result, I did not. Conventional sense is you want to average things. But averaging is not how you judge drilling result.

      If you drill all holes right through the richest part of the center of the ore body, you would of course obtain some pretty consistent high grade number. But that would be a waste of exploration expense. One hole in the center should be enough to tell you the highest mine grade at the center. Two or three extra holes at different locations of the main ore body should be enough to confirm that the result is correct. Most of the holes will be drilled near the edge of the ore body, hence result in lower grade. The purpose of such perimeter drilling is NOT to determine the main ore grade, but to determine where is the boundary of the mine body and how big it extends.

      So you should NOT look at the average grade, but rather the highest grade, especially when it is confirmed by more than one holes. That is the grade of the main ore body of the mine.

    • You are saying what I just said here. Forget about that spreadsheet. Read up on statistical sampling techniques used for creating predictive models. The ratio of "knowns" to "unknowns" from that press release is infinitesimal.

      Whatever you're smoking must be good stuff!

    • Sheesh! You don't know squat about building predictive models based on scanty data! I've spent almost 30 years working in scientific simulation at a national laboratory. How many years of professional experience do you have in building computer models? My guess is that you don't even have an advanced degree in science or engineering so you'd be unqualified for entry-level jobs on one of the projects I used to lead.

    • You obviously had some help in doing your Te analysis. So go back to the same people who walked you through the analysis and see what they think of your cock-eyed view of sampling.

    • Again you are incorrect. Most exploratory drilling is completed on a desiged grid to define the orebody. Your comment that most of the holes are drilled near the edge of the deposit is not feasible, as nobody knows where the edge is. Again the deposit is drilled on a gridded pattern. The results are evaluated through a geological model. The additional drilling would include more holes in the richer portion of the deposit to confirm. The grade of the orebody would be based on a weighted average of the ore samples and thickness correlated to the distance between the drill holes. I am a mining engineer and have done many, many geological models. I have never heard of anybody that knows their stuff taking the highest grade sample and applying it to the entire deposit.

    • Bring this up. The guy who originally posted this now announces he is quiting PAL, at such ridiculously low price level, and take a loss away from it. Pity such a lack of conviction of the fundamentals.

      That's what I want to see. The more weak hands shaken off, the better. There is not lack of big investors wanting to buy and accumulate. There is a lack of retail investors willing to sell shares here. So the trading has been slow and the accumulation is painfully long and tedious. Any one who does not have enough patience will not be able to stick around.