the earlier post says it all (copied below), it is basically vein width by strike by depth to calculate cubic meterage then multiplied by weight per cubic meter of quartz to get tonnage, then by grammes per tone to get grammes of gold per ton then divided by 30 to get ounces, which makes 45,000 ounces or @ 1400 per ounce 63$ mil of gold pre-extraction costs, I have assumed some small extention to strike and depth but not much, which is what will be confirmed, maybe more, by next round of drilling. So we know we have high grade gold in what are really large veins, very close to the surface, question is are we at 50,000 ounces or 100,000 ounces, which is why company will do some more drilling, they must feel its worthwhile given quartz outcroppings on surface suggest more strike length and we know its open at depth...DYOR and of course feel free to pick holes in this if I've missed something...
REPEAT BELOW-
-Quartz is 2.6 times the density of water and water is 1000k per cubic meter -We have 3 quartz veins which are at least 70 meters long (open at depth) by at least 1 meter to 4 meters wide -Strike length in the pit is at least 40 meters and extends on either side of the pit, they go for another at least 20 meters to the east and west -We have maybe 10g/tonne average grade Therefore- 70(known vein depth) x 3(holes) x 2.5 (average width) x 100 (estimated strike length) = 52,500 cubic meters Therefore-52,500 x 2.6 = 136,500 tonnes @ 10 g/tonne/30 g per Au ounce = 45,500 ounces x $1,300 = $59.15 million worth of gold- importantly all within 50 metres of the surface easy open pit, or sale to nearby producing mine
LCD Price at posting:
1.4¢ Sentiment: LT Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)