Actually pagarsi, UMC has previously released visual widths that far exceeded the actual high grade width, so I would class their 40m visualisation as an aggressive indicator rather than a 'safe or conservative' call.
I posted this in the other thread but here it is again.
The last time UMC released visual cores were as follows: I have included subsequent assay results next to each hole. Assays were released at a later date.
UI31 = 40.9m visual. High grade = 23.4m UI32 = 79.8m visual. High grade = 13.2m UI33 = 41.9m visual. High grade = 20.3m UI34 = 41.4m visual. High grade = 36m
As you can see, they released massive visual widths only to later have the assays returned at considerably narrower widths of high grade. I'm not sure if UMC management were embarassed or not, but the share price sure took a dive.
So from past experience it is almost certain that the assay will return not more than 40m of high grade 58%+ stuff. It could even be significantly less.
Look at UI32 with 80m of visual mineralisation but returned only 13.2m of high grade. It could well turn out that only 20m, 10m or even 5m is actually high grade of the 40m. Don't mean to rain on your parade but just trying to add to the discussion for informed trading.
UMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
