Hi to Sis, Ves, Harlee and all the AGS long faithfull! Exciting times in 2008/09 for AGS
Looking at the FME drill pattern illustration its 2-3 times more than FMW. This, along with FME high grades suggests the FME resource estimate to be released in April could be 30,000T (my guess based on above assessment). Noting FME only 0.5sq km. This would make the total estimate to date FMW + FME = 45,000T or 99 million lbs, close to their 100 million lb target mentioned in the 3rd January 2008 Gazette announcement. May be a bit optimistic though, as their agm report mentions a longer term target of 100m lbs. But, there sure is a lot of drill area at FME. The JORC may only be a part of it (0.5sq km) hence smaller than the above 'guess' (this is what happened to FMW, only 1sq km was JORCed)
Qasar will proceed asap with an ISL trial at FME, as the Beverley resource they presently mine is moving into lower grade ore. Also, the minimum JORC (inferred resource) requires 100m x 100m drilling. You will see from the reports that some of FME has/will be drilled at 50m and even 25m intervals, this means when they report the FME resource estimate in April some of it should be ‘indicated’ and/or some even ‘measured’. To proceed to production they would have to up the JORC from inferred to a higher status, such as indicated and/or measured. Repeating myself a little here based on last post but just some thoughts to share. Certainly a very good start to 2008 for AGS. Happy weekend all
AGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
