It's funny, our Measured and Indicated resource for Redstone ends at 510 meters. Our Inferred resource ends at 1150 meters. Development to the 488m level was completed in Aug 2008 (PR dated 17 Aug 2009).
On page 29 NI43-101 ammended under "Future Exploration" it says
"In the future exploration drilling at the Redstone Mine will focus on delineating mineralization between approximately 457 metres and 1,155 metres below surface. This will involve at least one phase of underground diamond drilling from diamond drill drift driven approximately 200 metres into the hanging wall the 488 metre level. Diamond drilling from this level will target mineralization below 550 metres down to a depth of 762 metres, and would consist entirely of underground drilling."
In the MD&A dated 30 Jun 09 under Mine development it says
"Development to the Redstone Mine is complete to the 488 m level and a drill drift is partially completed from that level to allow the company to drill down to the 671 m level. However due to low nickel prices, all further development and drilling plans have been suspended until prices recover sufficiently to justify these activities. Construction of the surface infrastructure and crown for a shaft at the Redstone mine is completed."
Later it says "A pre-feasibility study is expected to be completed in the fall of 2009 which will include an inferred resource from the 670 m level to the 1150 m level. (p 3)
(Aside) It sounds like from 508m to 670m is being reclassified to maybe Indicated?
I asked whether mining would cease when we reach this 510 meters and the answer is no! We still have an inferred resource and as everyone can well imagine the miners know exactly what they are mining.
(I was just curious what happens when we reach the end of our measured and indicated resource. I found it interesting to see the plans for Redstone. Within Redstone was stockpiled resources. The amounts have not changed between the two reports.) No point to this blog but maybe someone else was just a little curious too!
