"The Month" is upon us..., page-57

Cashed, this is just to add a little to the already few answers posted to your question:

Gold is characterised as both, fine and coarse, and along with the variable width, the project has a high statistical nugget effect whereby low-grade drill-hole intercepts can often be located within known high-grade structures which increases uncertainty in modelling. Multiple samples from the same location or re-assaying of duplicate samples can produce highly variable results. Hence drilling alone cannot generally provide statistical and geometric information required to define a long term and detailed mine plan. As a result ABM applies a risk managed staged approach to development at Old Pirate whereby capital expenditure is deployed sequentially and each stage of development informs the next stage. The first stage was trial mining completed in early 2014. ABM is now developing the second stage. These stages are based on mineral resource estimates (rather than reserves) with regular revisions to near-term mine planning modelling (refer releases 30/9/2014).

Also folks, although I have read recently that the starter 10k ounce grade was thought to be roughly 6g/t. Below states that this is only for the "low grade" material & that this will be further mixed with high grade material having above 10g/t grade! So, 6.5g/t low mixed with say, 13g/t = ?!? See where I'm coming from hehe? That is some serious initial grade ore!

Stockpiling of gold-bearing quartz has continued on site at Old Pirate. The aim is to have 10,000 tonnes stockpiled and ready for haulage during May. It is intended that the initial 10,000 tonnes will comprise both low-grade commissioning material (estimated at 3 to 10g/t gold) and high-grade material at >10g/t gold. ABM has completed a tender process for haulage of ore to the Coyote Gold Plant. The successful tenderer will be appointed shortly and will commence hauling in May.

I luv this bit!

The Central zone of the Old Pirate Deposit has been cleared and several high-grade quartz veins have been exposed and mapped. These quartz veins in the Central zone at Old Pirate are within 1 metre of the surface but were not previously exposed during the trial mining. These veins display visible gold in the quartz. To date, the newly exposed quartz veins are, overall, in-line with the company's geological interpretation for this area. Grade control sampling and mapping is underway.

This has the potential to be HUGE imho!

http://www.abnnewswire.net/press/en...velopment_of_the_Old_Pirate_Gold_Deposit.html