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Pretium Resources Inc. Message Board

  • jantrou jantrou Oct 22, 2013 11:07 AM Flag

    It's about drilling data not about sampling

    Forget about 2 or 4 g/t. The argument arose when Strathcona had only 20% of drilling data and those drilling data were in contradiction to the resource model.

    The resource model is dead. There is ore, it is a good deposit, but it is not bulk mineable. Resource model and feasibility study (made under assumption that resource model is correct) are toast.

    Quartermain blew it. They should have spent the money on scaling into production starting from a small base instead of reaching for the stars with their bulk mine plan and $700 mio mine.

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    • what are you talking Strathcona only have 0.01% material.

      Prior to resigning from the Program, Strathcona Mineral Services Ltd ("Strathcona") provided to Pretivm preliminary assay results from the sample tower that included those for the 426585E cross-cut, which averaged 2.08 grams per tonne gold. The assay results from the sample tower represent approximately 0.01% of the material excavated from the 426585E cross-cut. Based on a dry weight for the 426585E cross-cut of 2,167 tonnes, a total of 145 ounces of gold were estimated by Pretivm to be contained within the 426585E cross-cut using the preliminary assay results from the sample tower.

      Sentiment: Strong Buy

    • Agree !!!

      Sentiment: Hold

    • If you have an ontological commitment to the 43-101 methods with its emphasis on building global estimates by summing local data then 20% of the drilling is plenty to come to the conclusions to which Strathcona came. Law of large numbers and all that jazz. Where Strathcona went wrong was in making the assumption that small scale sampling can give reliable estimates where the distribution of values are highly erratic.

      Good rule of thumb is look to the premise underlying someone's argument. Most people are fairly okay at reasoning from a premise to a concluson. Most people are fairly horrible at being objective when examining their own premises.

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