The former Wildcat Exploration Ltd HUB On AGORACOM
The company is now known as FUSE Cobalt.
Message: Wildcat Begins Drill Program on Jeep Gold Project
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The average grade was better than the San Antonio. When you look at the average grade reportd by San Gold on the hinge zone so far... they are better on the Jeep.... only difference is SGR has more cash to spend on drilling. If WEL was to drill 120,000 ft I wonder what results WEL would be promoting?
SGR Nov 13th news release contained: Exploration The Company drilled 72,740 feet underground during the quarter and 55,364 feet from the surface. This significant surface and underground drilling continues to confirm the geologic model of the Hinge in what is proving to be a predictive model in identifying mineralization in the surrounding area; most notably at the Cohiba and L-13 areas where plans are underway to determine feasibility.
AND: July 14, 2009 Dale Ginn, CEO of San Gold Corporation (SGR: TSX-V) is pleased to present the results of the 11,762 ton Hinge Zone bulk sampling program that was carried out during the second quarter of 2009. The high grade nature of the hinge zones were validated as the stope mining grade reconciled to the mill at 21.7 g/tonne (0.63 oz/ton) with the main #1 lens stope contributing 26.3 g/tonne (0.77 oz/ton). Low total operating costs (mine and mill) of Cdn $184 ($US 158) per ounce were realized as well as high mill recoveries of 96%. Total expenditures (operating and capital) to date in order to build and develop the Hinge Mine are approximately Cdn $6.5 million with nearly 6,000 ounces recovered to June 30 th. A table containing the detailed breakdown of stoping, development, mill and cost
data follows the written portion of this press release. Highlights and Observations of the Hinge Zone Bulk Sampling Program include: 5,938 ounces recovered from 11,762 tons mined and processed. Stoping grades of 21.7 g/tonne (0.63 oz/ton) and development grades of 16.9 g/tonne (0.49 oz/ton). Main Hinge lens #1 grades 26.3 g/tonne (0.77 oz/ton) in stoping and 21.2 g/tonne (0.62 oz/ton) in development. Bulk sample operating costs averaged Cdn $59 per ton for mining and Cdn $19 per ton for milling, for a total direct operating cost of Cdn $78 per ton, excluding capital expenditures and exploration drilling. Total direct bulk sample operating cost per ounce of gold produced is Cdn $184 per ounce or approximately US $158 as at June 30, 2009. Total expenditures of Cdn $6.5 million to develop the Hinge Mine. Total decline, lateral and raise development of over 8,000 feet completed to June 30 th
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Compared to the limited exploration to date on the Jeep Property
Bulk sample results from the Jeep
- Jeep Mine: past high-grade gold producer
* "During its two years of operation ending in 1950, it (Jeep Mine) shipped 14,477 tons of ore averaging 0.825 oz per ton to the San Antonio mill…" J. Stephenson, 1972
* Depth potential untested (Target 1)
- Magnetic anomaly (prominent “bull’s-eye”) SE of Jeep deposit, not drill tested at depth (~400ft)
* Coincident chalcopyrite-pyrrhotite mineralization discovered SE of Jeep deposit
* Possible Ni-Cu target? (Target 2)
- Anomalous gold 1) along south contact & 2) east end of Jeep gabbro
- Fault zone with shaft, pits / trenches - north of Jeep mine, not explored or drill tested
- Underexplored volcanic sequence adjacent Wanipigow fault hosts Presto molybdenum (gold?)and copper showings and a recent discovery of intense iron carbonate alteration & quartz veining (Target 3)
- PGE: potential of Jeep gabbro has never been evaluated.
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