17:03:13 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



CB Gold Inc
Symbol CBJ
Shares Issued 143,172,094
Close 2011-11-09 C$ 1.38
Market Cap C$ 197,577,490
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CB Gold's new assay view explained

2011-11-10 00:20 ET - Street Wire

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by Stockwatch Business Reporter

Two weeks after revealing impressive assays from a drill hole at its Las Vetas gold property in Colombia, CB Gold Inc. has toned down the excitement with, as requested by the British Columbia Securities Commission, restated assays including a top cut. A top cut reduces (or cuts) an uncommonly rich assay, usually a short intersection, to a lower assay -- say from several hundred grams per tonne gold to 50 g/t -- and then the average of it and other assays is recalculated.

In its earlier news release of Oct. 24, CB Gold reported a 114.98-metre interval of 7.57 g/t gold, including 2.09 metres of 316.67 g/t gold, but used no top cut in its calculation. There is no suggestion the company tried to conceal the narrow intersection of extraordinarily high gold.

Brent Cook, a well-known geologist, consultant and newsletter editor, explains in his Exploration Insights newsletter that top cutting assays reduces the influence an individual assay interval has on a much longer drill hole. He explains that an individual assay samples only a three- or four-inch width of a drill hole. These samples from the drill core are then crushed, pulverized and reduced to 30- to 50-gram samples for assaying. After completing the assays, the assay company gives the results to the mining company or perhaps its qualifed person. The company or its qualified person then reports the assays to reflect a grade over a certain length of rock, usually 25, 50 or 100 metres. There are times when a drill hole may go through a high-grade section, or completely miss, but either result is usually far from representative of the drill core. Mr. Cook explains, "True grade capping is a statistical treatment of assays usually used in resource calculations to constrain the effect of outlier high grades." He concludes the objective is not to let high-grade samples have greater influence on the estimate and produce an overly optimistic result. Mr. Cook pointed out to his subscribers on Oct. 30 that CB Gold did not use any top cut in its calculations. He removed the impressive 2.09-metre intercept from the company's 40.89-metre high-grade interval of 17.17 g/t gold and revealed a 38.8-metre interval of 1.04 g/t gold.

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I am praying that this does NOT start to stink and tarnish the image of an industry that is in no more need of tarnishing.

Posted by shoes at 2011-11-10 04:47

There is nothing bad about this company, they simply didn't top cut that small intersection. That section was in the original press release and it was discussed on Bay St (where I work), the analysts and geologists looked at it, and it was determined to be no problem (thus the $10M issue bought entirely by the very long-time respected Ross Beaty). An incredible drill hole (cut or not cut) with more holes out very very shortly. Let's hope they are as good as the last!

Posted by Harold at 2011-11-10 11:30

I wonder if that is the last of the bad news. Even the Ross Beatty's of the world get taken once in a while. Watching the next few releases carefully.

Posted by Where there's smoke? at 2011-11-10 12:06

doubt it. ross b would have had and looked at WAY more information than anyone here has access to before committing that kind of dough. These guys are out of the Guistra camp. They're part of "the club". access to the "hidden" investors would probably reveal a lot about this project. And don't think this hole was a fluke. can they hit another? probably. did they know exactly where to drill this one? bet on it!!!!

Posted by optimist at 2011-11-10 13:15

shoes, you sound like you need to relax and have a drink. i've been buying alot in the market on this weakness. The hole was still a home run. and more results pending....

Posted by goldbug at 2011-11-10 13:30

while the numbers uncut or cut are pretty nice, over the length, there have been better holes in better geology announced, and these numbers do not compare with bought out Richfiled, Underworld, Timmins West or Vengold, and there have been recent announcements with better intercepts on other plays that have not gotten investor excitment...

Posted by yawn at 2011-11-14 16:16

To "Yawn" - I am extremely familiar with all of the companies you mention above. Underworld and Richfield were great companies. The other co's were menial at most. But Ventana was the best and you made about 2000% more in a year with their very high-grade over good width properties (i.e. La Bodega). CB Gold is just as exciting if not more (at this point) with a GREAT number of similarities to Ventana. You can't have any decent geology background, sorry.

Posted by Tom at 2011-11-15 09:02

RE-CHECKS !

Posted by Bay St at 2011-11-21 15:28


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