The recently announced exploration target update of lodes within 500m of the big old plant reveals that extending the exploration just 200m deeper could increase the MRE resources from 19Mt to 44 to 50mt.
28 to 38 mt of that would be high grade cut off at 0.6%. cu.
They are only targeting running the plant half the time processing 1.8 MT PA so at the mid point target just from that close to the surface we get 18 years. The small amount of drilling below those depths indicates the lodes are open at depth. there are also two big magnetic anomalies off to the side and at depth that don't get a mention.
HGO Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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