Ann: Scale of Korbel Grows at Block D Estelle Gold Project, page-27

Some thoughts

1) Thank you Nova, again, for including scales. Keep it up.
2) NVA has totally redeemed themselves with such a prompt response to the rounding. After a sleep, I do not think they were wrong to round up, despite some previous comments. However, they should have just mentioned it in Mondays Ann. I do believe they have learned the lesson here.

3) These new grade shells look conservative. More conservative than inferred shells typically look, and significantly more conservative than the last estimation. Just a general comment here, and its just my semi-knowledgeable opinion. I've circled a few specific areas which look particularly under-estimated (meaning i bet we will see an increase in grade in the next model and therefore increase in resource). This seems to be particularly true in Block B. Generally, the shells do not extend far from holes used in the model and tent to error on the low side with grade. This aligns well with the more sophisticated estimation methodologies they have used, and our theory that they clearly have their minds on upgrading to indicated and measured categories in the near future.


4) we already knew this, but just a reminder to buckle up.... huge stream of news incoming!!

5) this is the first I've heard of this. Personally, i would have waited until the next estimation is complete with measured and indicated resource, but oh well. I suppose the word 'preliminary' means they intend to follow it up with another one.