Ann: Outstanding Copper Intersections Continue at T3-MOD.AX, page-34

Some imaginary calculations

Imagine taking a 1M slice down through DDH's 11, 01 & 10 (as if cutting a slice of cheese)

It's not the case, but lets assume the top 110M or so of it is all waste & the next 29M is the yummy bit.

This slice is 175M long, 29M deep & 1M wide.

So you have 13,700 T of ore in your slice & 52,000 T of waste (so waste to ore ratio is about 4:1)

You're ore has 192 T of Cu & 13,700 ounces of Ag, so at $5,000 per T Cu & $20 an ounce it has a value of $955,000 + $274,000 = $1.29M

From this you need to deduct say $2 per T of waste ore extraction ($104,000) & transportation costs of say $10 per T ($137,000). So effectively you're left with $1M less the cost of extracting the minerals in a facility for each slice.

DDH12 & 08 are 150M apart, so there's going to be 150 or so similar slices.

Then you look westward and think, ok its only another 15 to 20 M of waste before we hit the next ore sheet, so in this part of the deposit, it will be profitable to go & extract it.

Going Eastward, the ore's already been extracted as the other sheet sat on top of this big one, & we've already covered all the waste costs in the calculations, so just trucking & processing costs to deduct there.

So the central part of the deposit already makes economic sense for open pit mining (175M x 150M) so we're looking at 2.5 MT of economic ore there alone.

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hmm wonder what's taking so long to compile with this other hole's assay results

LOTM