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You can find all the mineral claim info on the ministry of northern development and mines (MNDM) website. When you perform work on a claim you can file assessment credits which you can bank towards your claim fees. I believe they are $400 per claim and paid every 2 years. I have read Ontario is changing to online claim staking so this may change slightly. I am unsure if they have any mining leases, however if one did some digging this could be determined.
JW is correct in the sense that preparation for actual mining is time consuming, as government red tape does bog down the process. There are many permits and environmental studies which need to be conducted prior to mining operations. There are many levels of bulk sampling from 10's of tonnes to 1,000's of tonnes, I am not sure which inventus has planned, however trial mining would fall into a separate category. In my opinion the bulk sampling is a intermediary step to determine the grade of the conglomerates, after which they could evaluate the deposits feasibility and streamline trial mining and a 43-101 resource. We will have to wait and see, I suspect some news following the AGM next week.
JDub, yes, I understand there are fee's that need to be paid on the claims annually. All the more reason to get even the smallest amounts of income generated ASAP. Kinda like paying a lease on a storefront and never opening the store.
I believe all Pardo claims have been brought to lease?
Yes, now that we can agree that there are calms fees , we can discuss Claims and Leases.
"I" won't debate your point " I believe all Pardo claims have been converted to Leases? "
But why would Management write in an emaiL late last year, after having it's placed assets in Long Term Maintenance. Then after no PR's for month they replied following after an inquiry that was made :
"Spending has been reduced as much as possible and our claims are in good standing for years to come."
Back to Bulk Sampling, I did want to validate my statement in the previous post: I could not find the info while writing that post to link it. "Investus did convert some Claims to Leases in 2009, in order to do Blasting for Bulk Samples to get a understanding of the Avg. Gold content, this long before the 007 & Godzilla Zones were found."
I could not locate the Ginguro April, 1, 2010 PR stated in the PDF below : But as page 14 of this Ginguro PDF document states,
In 2009, Mount Logan Resources Ltd., a subsidiary of Ginguro Exploration Inc., carried out a reconnaissance mapping and prospecting program collecting 370 grab samples that contain up to 72.2 gpt Au. This program generally identified the distribution of major rock types exposed in the property, and confirmed that basal pyrite quartz pebble conglomerates of the Mississagi Formation locally contain appreciable gold mineralization. In addition, five 500-pound bulk samples were collected using controlled explosives. These samples were metallurgically tested, indicating an average head grade of 2.0 gpt and 94% gold could be recovered (Ginguro Exploration Inc. April 11, 2010 press release). The result of this test is positive.
I had also dug up the discovery dates on the James Bond Zone and Godzilla Zone ,where I had stated they were discovered long after the Bulk Samples were taken in 2009 Those being, for James Bond August and September 2013 and Godzilla August 2014. Again it is my Opinion that it will be the James Bond "007" and Godzilla Zones where the Bulk Sampling will take place, but I'm not so sure that Sprott will be doing the Bulk Sampling extraction work after poring over that Last PR a few times.
We see, what we want to see.. Perhaps more in that regard later.
Of course there are claims fee's, I am sure long term maintenance means "maintaining at the minimum cost". Got news, if you don't pay your claims fees you lose your claim. Just as the storekeeper would lose his store if he did not pay the rent.
I can see that we are not understanding each other on this point, that's okay, I think that we can agree that something is far far better than nothing.....You shall see.
"I" won't debate your point " I believe all Pardo claims have been converted to Leases? "
I am pretty sure that is a question mark at the end....Are all pardo claims converted to leases? Sheesh.
Boy will I be glad when the first mining results....errrr, I mean bulk samples, come through at a profit and that profit is reported as revenue on our required financials....
Yea Stem, et al, - Paleo-placer Bonanza is the cache all, but its not the right answer.
Actually the correct answer is in Stateside's Site Tour PDF File POST #35
The Poll was two fold, 1) to drive Traffic here ( I failed with the dislexia symbol IVS.V ) as after 5 votes it shows up in the SI Poll List, and also 2) to see if anyone is really reading the Posted info that's available here.
"We didn't have time to go to the Silver Lake discovery 4,000 meters (4km) south of the 007 discovery. The Silver Lake discovery was announced late last year and prompted Rob McEwen to take his initial stake in Ginguro."
Although Vince did have some interesting Information on Silver Lake
At Silver Lake, mechanical stripping along 300 meters in an approximate north/south direction exposed numerous flat lying quartz pebble conglomerate beds or reefs at surface, all of which were gold bearing. Of the 20 channel samples taken at the Silver Lake zone, 15 were from the lower reef. These 15 channel samples, which total 14.86 meters in length and average 5.7 g/t gold, were taken across approximately 300 m of stripping. Results from all 20 channel samples, for both the upper and lower reef at the Silver Lake Zone, included a highlight of 3 meters of 10.4 g/t gold. Announcing this 2012 discovery, President Richard Murphy stated: “Our recent discovery of extensive gold mineralization at surface at the Silver Lake Zone is a major breakthrough for the Pardo Project. These reefs at Silver Lake are analogous in every way to gold ores of the Witwatersrand basin,” “they are well sorted and contain Uranium and Gold in similar quantities to their South African cousins. We still have considerable geological work to do on these rocks in order to f ully understand them. However, it is fair to say now that this is the discovery we have sought for a number of years and is the discovery that we felt Pardo had the potential to produce. Furthermore, we interpret this surface mineralization to occur approximately 200 meters above the base of the host formation. This means that there is a potential to discover multiple gold reefs at Silver Lake, including a gold-rich basal reef.” The last two sentences bear repeating. Furthermore, we interpret this surface mineralization to occur approximately 200 meters above the base of the host formation. This means that there is a potential to discover multiple gold reefs at Silver Lake, including a gold-rich basal reef.”
The picture at the left shows the stripping that was being done at the Silver Lake discovery in late 2012 along 300 meters in a north/south orientation (again notice Casha directing the exploration program and keeping an expert eye on the gold conglomerates). If you'll recall from the video on the Ginguro website produced in late 2012 (watch it at vimeo.com, Dr. Minter talks about the highest grade gold is expected to be found at the base of the host formation (Mississaugi unit). At the 007 and Eastern Reef discoveries some 4,000 meters north of the Silver Lake discovery, the base of the Mississaugi unit is very near the surface which may account for the gold grades reaching over 200 g/t gold in these areas.
Many thanks to Vince Marciano for doing the Site Tour and eye-balling the site first-hand and providing the in-depth and insightful report.
I read Vince's Site Tour after viewing his 2 Stateside Reports on Sept. 23, 2013. Those are at the bottom if you wish to view them. Vince's NEW Podcast Site is Comanusrising where he did an update on Inventus on April 23, 2016 which I mentioned in a previous post.
Just above the Silver Lake Mention in the Site Tour, is it discusses the Bulk Sampling done at Trench 2
Our final stop of the day was at the Trench 2 area. This had been the area that was the exploration focus of both Endurance Gold (previous operator and current jv partner) and Ginguro over the past 5 years. Numerous drill results from this area showed grades of 1-2 g/t gold in the conglomerate reefs. However, two separate 50 pound bulk samples at the Trench 2 area (Blast Pit A and Blast Pit B) returned grades of 3.5 g/t gold and 4.6 g/t gold respectively showing the variability one can get from using the drill results in conglomerate reefs. A picture of the blast pit is shown below: