January 7, 2009
Prospector Consolidated reported on Nov 24, 2008, the preliminary drill results by reporting the weighted average of the total length of the drill core. The results were so good that investors have asked how big and what grade a potential orebody might be.
It’s still premature to speculate and to give our investors an idea why, we have carried out selective weighted averages of significant zones and we suggest that economics of a mining operation be considered:
|
Drill Hole |
Total hole length, Meters |
% WO3 of total hole
|
Significantly higher intervals
% WO3 |
|
K-08-08 |
68 |
0.151 |
18 m @ 0.21 %
26 m @ 0.19 % |
|
K-08-09 |
141.3 |
0.211 |
101 m @ 0.28% |
|
K-08-10 |
95 |
0.074 |
27 m @ 0.13 % |
|
K-08-11 |
191.2 |
0.088 |
42.5 m @ 0.2% |
In order for Prospector to be able to speak about ore, we have to get a better handle on what is the minimum grade at which a mining operation will break even – mining engineers call that the cut-off grade. The cut-off grade will vary from 0.07 % WO3 on a simple “dirt moving” operation in Europe to 0.5 % WO3 cut-off grade at some complex underground skarn deposits. The Kalzas project fits into the “dirt moving” category but it is located in the Yukon.
We will continue to evaluate operating costs and have the benefit of operations of North American Tungsten to help us to determine cut-off. We will also evaluate processing costs and transportation costs, among other parameters and only then, we can speculate better about the size and grade of what will become an orebody.
Our drilling, as well as the historic drilling by Union Carbide and Copper Ridge together, covers less than 10% of the greater than 0.12 % WO3 rock chip surface anomaly. In the near future, Prospector will be able to give our investors an idea of the size of the area we have tested to date and what the plan will be for the upcoming field season.
Slowly, we will have sufficient parameters to tell our investors, with some degree of confidence, how big and rich our project really is.
Henry Neugebauer, P. Eng.
President
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