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As part of New Carolin’s 2016’s work program there will be a site
investigation, database validation and construction of a geological and
structural model by R. Bob Singh, P.Geo. of North Face Software Ltd. Bob is
LAD’s qualified person under 43-101 reporting.
A detailed three dimensional geologic model incorporating identified
structural controls to the mineralization on the Project will be produced.
This model separates stratigraphic controlled and structurally controlled
mineralized domains.
Geological modeling will identify key structural controls to the gold
mineralization and geology on the project. The recognition of structures and
their influence on the gold distribution in key stratigraphic horizons will
allow New Carolin to create a detailed geological and mineralization model.
This model should identify drill targets and also serve as an exploration aid
in identifying additional targets elsewhere on the Property. Confirmation
drilling will then be carried out.
Here’s an example of what such studies can do in regards to a new resource
estimate. WPC Resources construction of a geological and structural model and
new resource estimate was done without further drilling….
April 14, 2015
TSX-V: WPQ
WPC RESOURCES SIGNIFICANTLY INCREASES ESTIMATED TOTAL CONTAINED OUNCES IN
MEASURED AND INDICATED CATEGORIES AT ULU GOLD PROPERTY
The updated mineral resource, using a gold cut-off grade of 4 grams per
tonne (“g/t”), of 2.50 million tonnes with 605,000 gold ounces in the
Measured and Indicated Categories and 1.26 M tonnes with
226,000 Au ounces in the Inferred Category are significant tonnage
and contained ounce increases over the 2011 historic resource of 0.75
M tonnes containing 275,000 Au ounces in the Measured and Indicated
Categories and 0.42 M tonnes containing 143,000 Au ounces in the Inferred
Category.
The current Ulu mineral resource was estimated following a recent
reinterpretation by independent consultants…..
“Bob Singh, P.Geo. and Paul Cowley, P.Geo. are the independent
Qualified Persons responsible for reinterpreting the data and 3D model. G. H.
Giroux, P.Eng. of Giroux Consultants Ltd., is the independent Qualified
Person responsible for preparing the updated mineral resource estimate. The
mineral resource estimate involved 3D modeling methods and parameters, and
statistical and grade continuity analyses. Techbase modeling software was
used for the 3D block model and subsequent grade estimates. Grade capping was
used to restrict the influence of statistical outliers during Ordinary
Kriging (“OK”) interpolation of block grades. A total of 362 drill holes have
been completed on the property. Of these holes, 313 intersected various
mineralized solids and were used to estimate the resource. The resource
estimate utilized a total of 376 bulk density measurements determined by
previous explorers on site….
The major contributions to the improvement to tonnage and contained
ounces were from reinterpretation of the vein system and from prevailing
economic considerations including gold price, exchange rate and the positive
impact of Lupin’s influence. The positive reinterpretation was the result of
corrections in the database, using all of the data and shaping a model that
our consultants believe is a more realistic representation of the continuity
of the fuller, more substantial mineralized system.”
The mineral resources in WPC’s new estimate were calculated using the
Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”), CIM Standards
on Mineral Resources and Reserves, Definitions and Guidelines prepared by the
CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
Now of course this is just one example and to be fair an average of
results from these types of programs should be used. I’ll leave further DD
and comparisons to you, my reader. But one thing’s for sure, these types of
models have never been done for the deposits on LAD’s Coquihalla Gold Camp
and have never been used for exploration. I’m thinking we could be getting a
few pleasant surprises from such work!
Update
New Carolin should shortly be announcing receiving the Quebec judge’s
vesting order giving the company 100% of its Coquihalla Gold Camp.
There is going to be a ‘must do’ thing or two, such as raising a minimum
of $520,000.00, spending $600,000.00 on the property, settling debt and
exchange approval before we own it outright. These are all expected
conditions to final discharge of the property out of receivership.
New Carolin had announced a private placement of $1,150,000.00
subsequently increased, and capped, to/at $1,312,000.00. We can expect this
financing to close shortly.
We can also expect news regarding a large 2016 exploration program on the
whole property, both the north and south portions.
Conclusion
From February 3rd to today, February 16th 18.17 mil shares have traded
hands in anticipation of LAD gaining 100% control over its Ladner Gold
Project, or as I call it New Carolin’sCoquihalla Gold Camp.
Everyone needs to have a gold junior on their radar screen. New Carolin
Gold Corp TSX.V – LAD is first on my screen. Is it on yours?
If not, maybe it should be.
Richard lives with his family on a 160 acre ranch in northern British
Columbia. He invests in the resource and biotechnology/pharmaceutical sectors
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Legal Notice / Disclaimer
This document is not and should not be construed as an offer to sell or
the solicitation of an offer to purchase or subscribe for any investment.
Richard Mills has based this document on information obtained from sources
he believes to be reliable but which has not been independently verified.
Richard Mills makes no guarantee, representation or warranty and accepts
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Expressions of opinion are those of Richard Mills only and are subject to
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