the 1998 resource report by morrie goodz (find it on the MCO website under : projects : morning star mine : exploration potential) sets out a non-jorc resource of 430,000 ounces Au.
this figure would be based on MCO drilling in maybe 1993/1997 & the archival records. it is to be noted that the u/g part of the resource is only to do with "mineralisation associated with the main shaft workings from level 2 to level 10" - although on the website it says only to level 8.
in-other-words, there is heaps more known mineralisation thruout the mine not included in this report i.e. mineralisation NOT associated with the main shaft.
on page 7 of the report, morrie goodz comments :"based upon historical data it is not unreasonable that the potential recovered grades may be twice that outlined in the report".
in-other-words the 430,000 ounces Au becomes at the least : 860,000 ounces of gold. and, to reiterate, that is a figure not outside the main shaft workings.
in conclusion i speculate that , way back in 1998 MCO new that their resource was over a million ounces even before the drilling began in 2007 into the 7 sub-level.
(disclaimer: anyone thinking of buying do not take my word for it. do your own research to challenge my ramblings. i could be off the beaten track & lost the the abyss of my own imaginings. i.e make up your own mind. cheers)
MCO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
