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Saturday, April 22, 2017

Grade smearing - Barkerville

Barkerville, that name seems familiar....

The big, fierce black dog is made to glow in the dark using phosphorus, chases a man, who runs in great fear and dies of an apparent heart attack?

ohh, crap, that was Peter George's crowning glory with "potential to host 40-90Moz of gold" (link, link and link).

So, you have a project and a company (the faces have changed but the name is the same) that had been pulled through a river of crap over a dodgy technical report. You would think that they would be extra specially good, and they wouldn't do some massive grade smearing, from a few narrow, ultra gfg*-grade veins and come up with a massive intercept that cause geologists to faint as their blood rushes to other parts of their bodies (i.e. not their geo-pick hand.....)

who ruined that picture of a gold sample with some yucky gurl's boobs?

*gfg = geologist's fantasy grades - think of these as Scarlett Johansson** - she exists, but there is no chance you'll ever date her, but you'll be happy to sell your mate's testicles just to have the opportunity to lick her armpit

**some people may not like SJ, they are probbaly the same people that say "I prefer silver over gold". They are wrong, and should be immediately disowned.

Holy shit, they've just raised $12.5m by flogging a 0.75% NSR on a Cariboo to Osisko.

that is one expensive Ungulate, i'm guessing that Osisko bought the balls...
Crap, wrong PR, this is the one (link) I want to talk about....

Sweet holy jebus, 54.4m @ 19.2 g/t Au - that is US$800/tonne rock, let's start mining now...

*sigh*

Let us look beyond the Uber-high grade intervals, like:
  • 0.5m @ 272 g/t Au
  • 0.85m @ 760 g/t Au
  • 0.5m @ 64.2 g/t Au
  • 0.5m @ 42.8 g/t Au
  • 1.5m @ 65.4 g/t Au
  • 1.15m @ 15.8 g/t Au
and look but what is the grade for the other 49.5m that they don't report? What does that run?

2.5 g/t Au

Yes-sirree, just a teeny weeny 87% drop. I mean, that is still a decent result, but it shows that 87% of the gold is in just 9% of the drill-hole.

Look at the moose, 9% is equal to it's back legs.

Grade smearing is endemic in exploration companies, heck, why didn't they make it 1044m @ 1 g/t for shits and giggles?

6 comments:

  1. Grade smearing. Sounds like me in 4th grade. Got my rocks off, as well, an experience as good as gold.

    ReplyDelete
  2. I think the girl on Ana Paula article was hotter. Still waiting AG.

    ReplyDelete
  3. What a shame reading this. The people involved are supposed to be respected leaders in the precious metal community.

    No wonder folks like myself wish we had never become involved with gold and silver mining companies or the touts that flourish with their lies and carnival barker stories. Thought I was using my head following the Smart Money, "Never Give A Sucker an Even Break"

    ReplyDelete
    Replies
    1. The sad thing is that grade smearing is endemic and has become accepted in the exploration industry.

      I have no issues with calculating a mining width grade (i.e. spread the grade of 2m), or even calculating the grade over a vein/structure width if only part of it contains grade.

      Delete
  4. Thanks Again Angry Geologist for your wisdom and valuable education. Most appreciated Sir.

    ReplyDelete