Two zones of mineralisation have now been defined at Masabi. Using the results to date I estimated a 'back of the envelope' potential using a few assumptions.
1. Completed and planned drilling along strike will intersect comparable (if not better) results.
2. Mineralisation is consistant between drilling.
3' Mineralisation extends 50m along strike from drilling contraints.
4. Dimensions of lodes
Northern Mineralisation - Width (50m) x Strike (600m) x Depth extent (100m). Grade = 2g/t
Southern (new) Mineralisation - Width (80m) x Strike (400m) x Depth extent (100m). Grade = 1.7g/t
5 SG of 2.8 for dolerite/granite.
Using the above assumptions, I estimated a total of
17Mt @ 1.85g/t Au for 1M ozs, (using 0.5g/t cut off)
Or
9.8Mt @ 2.7g/t Au for 840,000 ozs, (using more significant zones reported in 0.5 intersections).
I do hold and did buy on Friday (Mr 5.9c)and have another buy in place at 5.9c - above is my rationale.
However DYOR and check my numbers above. Bring on the remainder of results along strike.
Two zones of mineralisation have now been defined at Masabi....
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