Some light reading while we wait for drilling approvals, page-5

Hi Stevenjd,
Yes, thats exactly the point - the additional mineral deposits doubles the effective gold credit. Analysis will need to be done to see if the processing and recoveries make this credit economically a value add. Nice problem to have though.

Just did the calcs on today's prices and it stacks up again.

VNSR $ Value per tonne ore mined - Gold = $67.69
NSR $ Value per tonne ore mined - Ag + Cu + Zn + Pb = $61

See workings below - hopefully formatting works.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0	2017
1	Assumption	Gold (oz)	Silver (oz)	Copper (t)	Zinc (t)	Lead (t)
2	Metal price in US$	1190	16.88	5,640	2730	2143
3	Loss on Mining and Processing	20%	30%	45%	30%	30%
4	Cost of Freight, Insurance, Smelting, and Refining	5%	20%	20%	20%	20%
5	Total loss of value	0.25	50%	65%	50%	50%
6	NSR value US$	892.5	8.44	1974	1365	1071.5
7	NSR value of 1 g/t or 1% grade	31	0.30	19.74	13.65	10.72
8	Average Grade at zero Au Cut-off	2.15	48.06	0.0067	1.98%	0.61%
9	NSR $ Value per tonne ore mined	67.69	14.2	13.2258	27.027	6.54

	Column 1
0

Desie101