These are screen captures from the Pardo Leapfrog 3D model.
The interpreted extent of the mineralized conglomerate defined by drilling is displayed above in red. The mineralized conglomerate is open to the north west, east and south.
Plan view of the mineralized conglomerate with overlain aerial photo. Topography is rolling to flat with no major water bodies.
The extent and interpolated grade thickness of the mineralized conglomerate.
The Trench 1 bulk sample returned 4.2 gpt over 2.54 metres demonstrating a grade thickness (GT) of 10.66. The drilling conducted prior to the bulk sample ranged from 0.42 GT to 10.43 GT with an average of 3.37 GT.
Any one drill hole intersecting the mineralized conglomerate is not adequate to determine the grade. The highest grade thickness observed in drilling occurs where the highest density of drill holes are located.
Cross section of the grade thickness with aerial photo between 007 and Eastern Reef showing it is flat lying and near to surface.
Extent and grade thickness of the mineralized conglomerate with overlain aerial photo.
The Pardo Leapfrog 3D model is now available.
The data files can be downloaded here
The free Leapfrog Viewer can be downloaded here. (Leapfrog 3D is only compatible with Windows).
Please read the "IVS Pardo 3D Model - Read Me" document for instructions and information on the files.
For any additional inquires please email: email@example.com
Q: “What are the next bulk sample targets on the property? How much will it cost? When will that program commence?”
A: Our idea is to bulk sample 10,000 tonnes (~1/10th of the total in our prospective permit) in the next program. The areas to focus on would be 007, Trench 1 and Eastern Reef. Hopefully the cost is negative (wink). The next sampling program requires an approved closure plan, which is a major permit provided by the government. We’ll keep everyone updated on our progress.
Q: “You announced your results and your opinion of encouragement and that more bulk sampling should be slated...........this is all good...................but there was no commentary with respect to the larger context of the project......as how significant this result is to the bigger picture........was it representative of all of the surface expressions on the property.....how big of blanket these beds cover and average thickness.....some thing for a new investor to latch on to....... the scope of the project with some simple arithmetic !
A: Providing broad generalizations with grades, weights or volumes pretty quickly started looking like a pseudo resource statement…and that would get us in trouble. We are working on an updated NI 43-101 Technical Report (see Survey Response #1).
Investors can do simple arithmetic with information provided in our presentation http://www.inventusmining.com/presentations/ and our latest news releases.
Q: “In the message boards, I've read opinions of people not wanting to hold over the winter...or anxious for the Spring to see an appreciation in the share price.”
A: Not sure why the value of IVS stock would be tied to the seasons, we don’t have a seasonal exploration news flow like some companies. January to April is a very active period for mining conferences and promotion.
Q: “Putting any "nuggety" effect of drill results aside, does the company feel that we may be able to expect this kind of an improvement in grades for future bulk sampling campaigns? Is it generally accepted within the industry that bulk samples provide better results than drilling?”
A: It’s difficult to say with one data point if the relationship will hold true in other areas of the property. Our working hypothesis is that all the conglomerates will behave in a similar way. The first bulk sample strongly supports our hypothesis.
Q: “It would also help to know what the total cost per ounce for the bulk sample was, taking into account factors that may be different between full scale mining vs bulk sampling.”
A: The cost of bulk sampling is almost always much higher than you would experience in a commercial operation. In our case we will almost break even on the first 1,000 t, which is an accomplishment we're very pleased about.
We received a number of responses to our survey (Thank-you). I'm going to tackle them over a few days. Here is the first thing someone wrote in:
“I was quite pleased with the results and look forward to hearing some guidance on what will happen next...”
What happens next:
1. Within a week, we will be making the 3D Leapfrog model of Pardo available on the website. Anyone who downloads the Free Viewer will be able to look at it. Pro-users will be able to do much more…
2. We will be submitting a permit application to conduct a 100x larger bulk sample / trial mining. The environmental baseline work for this permit was started last summer, and we are able to submit it the government soon.
3. We will be working harder on investor outreach and promotion.
4. We will be publishing an updated 43-101 technical report on Pardo in H1 2018. He hope to include information on conceptual target size, and current resource tonnage.
5. We will be investigating ways to implement ore sorting in the near future, which we think is a potential game changer for the project.
“I am extremely disappointed as a long term shareholder learning of the constant selling of shares on the open market from one of our large investors Endurance Gold Corp...”
We get a surprising number of calls and emails to complain about Endurance. Don't call us, call them!
Despite the bulk sample results being very positive (in our opinion), judging from the share price some investors seem to have the opposite view. All the feedback we’ve received from investors and analysts has been positive. No one has written to complain about how we screwed up or the results were below their expectations. So this is your invitation to complain, if you are displeased with the bulk sample results or you think you know why others might be, please write to us at: firstname.lastname@example.org. We will try and address your concerns right here on the Blog.
Milling of the bulk sample went reasonably smoothly. Many thanks to the operators at the Back Fox mill for working through a few struggles to get it done.
Today is the day! Bulk sample being run through Black Fox the mill today.
After an unanticipated 4-week delay, while we worked with the environmental regulators responsible for the Black Fox Mill, I'm pleased to say we received the all clear on Nov 17. The Pardo Bulk Sample is in line to be processed sometime in December. We will provide more specific timing when it's available.
Shipments of bulk sample material from Pardo to McEwen Mining's Black Fox-Stock Mill (located near Timmins) have started.
Our drillers are Asabanaka Drill Services from the Kasibonika Lake First Nation. The rig and crew were great, we recommend them, email us for contacts.
Diamond drilling will occur prior to blasting to provide samples for assay as well as give the blasters precise information about the location and thickness of the mineralized zone. PD-07-69 was a small diameter drill core from 2007 which intersected 4.7 gpt gold over 2m (half core fire assay).
Equipment is on site clearing vegetation and soil from the location of the 1,000 t bulk sample. The next step is diamond drilling. Check-in here from time-to-time for updates.