Am I right what the following from the last announcement means in real terms: " Golden Hind Discovery • Drilling reveals some of the best ever intersections on the whole project area:• 42m averaging 44g/t gold including 15m averaging 118.5g/t gold."
My mathematics indicates 42m averaging 44g/t (i.e., 42m X 44g/t equals resource of 1980grams total that includes (so part of) 15m averaging 118.5g/t for a total of 1777.5gms. If one takes 15m from the 42m = 27m left; and then 1777g from 1980g = 202.5g.
So the remaining 202.5 grams divided by 27m then averages 7.5g/t., i.e., 27m (64%) of the 42m averages 7.5g/t (resource is 202.5g). Added with the 15m (36%) averaging 118.5g/t(resource of 1777.5g)then equates to the given average of the whole 42 metres of 44g/t.
7.5g/t over this 27 metre distance in my view is still a significant amount and would presumable be mined in its own right. But!!!!!!! the additional 118.5g/t over the 15m is absolutely fantastic.
33g = 1oz X $1600p/oz = lots of profit to pay for full mining development in(near)future.
ABU Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)