6 million tons of possible ore
at the nearby Hilltop Deposit.
The company has also reported that there is a block of 13,200 t of possible ore
grading just over 9 g/t; another block contains 127,000 t of inferred ore of probably similar grade.
There are about five years of proven, probable and possible ore
reserves remaining at the operation.
The thicker mineralization zones will help lower the levels of possible ore
dilution and this aspect combined with the shallow depth to the ore zones where stripping ratios are expected to be very low at less than 2 to 1, will positively impact mining operational costs.
At current gold prices, the mine's current proven, probable and possible ore
reserves give it a life of three more years.
The Alanco report also included a report by Keegel Engineering that gave a resource of Proven, Probable and Possible Ore
as 160,000 tons with an average grade of 0.
Outside Target Exploration; In the summer of 2006 a large induced polarization (IP) survey was conducted in an effort to identify additional possible ore
E[acute accent]Past work, consisting of cat trenching, surface geological mapping and diamond drilling during 2002 and 2003, indicated a 250 m strike length of possible ore
grade gold - silver mineralization.
Lines of intersections of the eleven structural planes identified by Gemcom software program and their traces have revealed five possible ore
Recent trenching 650m to the west of the adit also indicates significant gold mineralization in four possible ore
zones grading from 2.
In addition to the proven and probable reserves, extensions between the known levels results in a further 370,000 tons of possible ore
of a similar grade.
This new zone is present on the 2500 level and is known to contain over 300,000 tonnes of possible ore