Heritage Gold...HGD

[blacksheep]

HGD announced it has "delineated a resource of 109,600 oz of gold and 438,400 oz of silver in the Talisman Mine near Waihi at a discovery cost of NZ$3.70 (US$2.30) per oz.

"The recent underground channel sampling programme, predominantly in the No.8 Level of the Talisman Mine and extending into the 5A Level of the Crown Mine, is the first in a three phase programme to define a gold resource for development feasibility.

"All channel sample assays and geological data obtained during the programme were modelled and a computer based resource estimate produced. The resource exists in four mineralised areas of the known vein systems, with two sections in the Maria vein (Woodstock and Dubbo sections), one in the Mystery vein, and one in the Crown vein."

The "TALISMAN MINE RESOURCE ESTIMATE SUMMARY" included "MARIA VEIN - DUBBO SECTION: Category: Inferred: Tonnes:28,100, Grade:28.1g/t Au 78.5g/t Ag, Ounces:25,400 Au; 70,900 Ag. Category: Indicated Tonnes: 50,900, Grade: 27.2g/t Au 76.9g/t Ag, Ounces:44,500 Au 125,800 Ag[...]

"TOTAL RESOURCE: Tonnes: 335,400 Grade:10.2g/t Au; 40.7g/t Ag Ounces:109,600 Au; 438,400 Ag."

Notes on Resource Estimate: 1. Channel samples cut using diamond saw, and chipped by handheld methods and dispatched to laboratory for assay. 2. Gold analysed by fire assay using 50g charge by SGS Laboratories, Waihi. System of standards and check assay confirm tenor and integrity of assay database. 3. Bulk density of 2.65g/cm? determined by water displacement method on 6 representative quartz vein samples. 4. Estimate calculated using inverse distance squared method with cell size of 5m by 5m by vein width. 5. Indicated mineral resource estimate based on maximum of 25m from any sample position. 6. Inferred mineral resource estimate based on maximum of 50m from any sample position. 7. Estimate supported by comparison with nearest neighbour method. 8. Ore zone defined by geology, no lower gold cut off used. High gold assays were cut to the 95 percentile value. Phase 2 of the programme will focus on the levels of the mine 100m above and below the No.8 level and will involve underground diamond drilling as well as channel sampling. This work is aimed at expanding the resource base substantially and raising the resource category. This report has been compiled by Mr Graeme Fulton and Mr Murray Stevens. Mr Stevens is an independent consulting geologist. Mr Fulton, of Terra Mining Consultants Limited, is an independent consulting mining engineer. Both are corporate members of the AusIMM, and have sufficient experience in the style of mineralization and deposit type being reported on and the activity being undertaken to qualify as Competent Persons as defined in the 1999 edition of Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC code). Mr Fulton and Mr Stevens consent to the inclusion of the resource estimate in the form in which it appears in this report."

[Cooper]

Does anyone know what the cost of getting that stuff out of the ground is (roughly)?

[craic]

Put an order in for a few of these tonight on the basis of the article in the Dominion on Tuesday of this week. This is going to be my one wild speculative bet.

[roaddog]

Been selling my HGD shares for 10-12 cent paid 4 cents for them its time to take some profits

[Cooper]

When you see the POG in the morning roaddog you may wish you hadn't...

[etrader]

quote:Originally posted by Cooper

When you see the POG in the morning roaddog you may wish you hadn't...

Sorry Cooper what is POG have not heard of that before

[lambton]

Price of Gold (POG) $406.75 this morning.

[Cooper]

The fact that it's clearly over $400 is significant, therefore goldies like HGD should be driven up by sentiment.

[croesus]

I see Xmas came early for some, ... 600k of HGDCA at point 0.008 traded yesterday.... my understanding is that HGD will be digging out the yellow stuff by this time next year... anybody able to comment on that

[croesus]

Now a buy order for 100k HGDCA at 1.5....momentum in the headshares.... a bit of hype and this tiny stock could double. and double again

disc own the odd one or 2