Ann: High-Grade Results Ahead of Near Surface Resource Update, page-48

Junior gold explorers rely at first on headline grabbing resource estimates that are mostly aspirational.
They are based on inferred low confidence ozs of gold.
Drill two holes far apart and hit gold in each so you infer there is gold between those holes.
Drill close spaced holes to get an indicated or measured estimate and the inferred gold often disappears.
Grace was 109,000 ozs of high grade gold, but 9,000 ozs disappeared in this ann and most of the resource is inferred.
Rox is heading towards production with a Scoping Study due in June and a DFS by the end of the year.
The only gold ozs that can be included in these studies is indicated or measured with up to 30% inferred in a Reserve.
The high confidence Near Surface Reserve is currently 736,000 ozs from ore with an average grade of around 1.7 g/t
The high confidence Deeps Reserve is currently 992,000 ozs from ore with an average 7.2 g/t
We can be sure that Rox will have a 2m oz Au Reserve.
That's the initial minimum Reserve, there could be a lot more as Rox is busy converting inferred to indicated ozs.
When Rox can afford to drill 1200 m DD holes below the last gold mined at the bottom of the main lode the Reserve will almost certainly be much bigger.
The Deeps is Rox's main asset, at least a million ozs of very high grade gold
Below is another juniors JORC announced today, it is oxide gold like ours and also near surface to 160m. Note the indicated and inferred plus the sub industry standard cut off on the biggest deposit. MC is $46m and it's not nearly as good as Rox's Near Surface.