Classification The Mineral Resource has been entirely classified as Inferred. The classification is based on the relative confidence in the mineralised domain countered by high nugget values, variable drill spacing, un-verifiable historical database and partial lack of historical QAQC.
So why is it all inferred?The forward plan is extraordinary.
- It's nuggety which makes for low inferred to indicated gold so they will stick with inferred.
- Sloppy drilling was used without proper planning to define indicated gold.
- They have no idea whether the historical data base in accurate.
They won't be drilling to convert to indicated gold and they won't be producing a JORC complaint MRE.
A Scoping Study isn't on the cards.
They will be growing the inferred resource
The problem with this most unusual development path is that they will eventually need a great deal of capital to build a mine and without a Definitive Feasibility Study they won't get a cent. Much as they do not want to define indicated gold and build a JORC complaint MRE, develop a Scoping Study, PFS and FS and DFS these are unavoidable.
So they shouldn't be growing the inferred resource now, they have enough inferred gold. They should now be working towards identifying a mineable part of the resource ( a reserve) and getting into production with as low a Capex as possible. .
My Opinion
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- Ann: High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t
Ann: High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t, page-34
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