Based on data from 47 drill holes, Placer estimates the property has a geological resource of 9.2 million tons grading 0.035 oz gold per ton t o a depth of 600 ft and assuming an average dilution factor of 50%. As a result of the wide- spaced nature of the drilling, the companies are unable to estimate an accurate rese rve figure.
A second-phase exploration program will include in-fill drilling designed to define reserves and exploratory and step-out drilling which will attemp t to build additional reserves.
Surface sampling suggests the potential for expanding reserves is good, Oneida says. The 25,000-ft drill program is under way.
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