resignation of chair---- what if.??, page-26

Onceover

The North Parkes mine in NSW run by Rio using block caving is running at 5 to 6 Mtpa at a reserve grade of 0.8 g/t Au and 0.3 g/t Au. Its reserves were 75Mt in 2010 (this can be googled).

As block caving is one of the lowest cost forms of underground mining, this provides an indication of the sort of Au/Cu grades needed at the low end. However for block caving both the scale and ore characteristics for caving are required.

So I think you are high with your estimate of the ore grade required.

I do not think the North Parkes scenario is out of the reach of the ICG project based on the size of the intercept in the drilling. However as you suggest, it is a question of the grade and only the assays will show us that....

you are also very correct to raise the depth issue as this will mean that either the project needs to be enormous to allow a very large scale prestrip, or that underground mining costs will need to be supported.

perhaps tt is quite possible that the porphyry is closer to the surface than where hit by the first hole..?

as yes, I am in the industry, but not a geo.

cheers
gosouth