A statstical view of possible JORC

Check this ANN carefully which says how the resource target was calculated

https://hotcopper.com.au/threads/an...lished-for-opuwo-cobalt.3433908/#.Wl-oOUxuKcw

1) It was based assays of the first 20 holes
2) Was calculated for 11Kms of strike.

I multiplied each assay's depth by the % grading of Cobalt for the first 20 holes to get a weighted number for each result as follows:

	Column 1	Column 2	Column 3	Column 4
1	Depth	Grade % CO		Weighted result
2	6	0.12		0.72
3	19	0.13		2.47
4	7	0.13		0.91
5	4	0.13		0.52
6	7	0.17		1.19
7	2	0.31		0.62
8	4	0.15		0.6
9	7	0.16		1.12
10	5	0.14		0.7
11	7	0.13		0.91
12	5	0.15		0.75
13	5	0.2		1
14	3	0.09		0.27
15	6	0.13		0.78
16	6	0.08		0.48
17	2	0.09		0.18
18	5	0.12		0.6
19	3	0.11		0.33
20
21		Total		14.15
22		Weighted average result		0.7075

This gives a weighted average result of .7075.
So lets assume that the initial exploration target had a weighted average result of .7074.

I have then done the same calculation for holes no 21 to the latest declared assay results and used the same methodology as explained in the table above.

	Column 1	Column 2	Column 3
1	Depth	Grade % CO	Weighted result
2	0.17	6	1.02
3	0.14	10	1.4
4	0.11	3	0.33
5	0.14	4	0.56
6	0.13	6	0.78
7	0.13	5	0.65
8	0.18	5	0.9
9	0.12	3	0.36
10	0.14	4	0.56
11	0.14	4	0.56
12	0.11	7	0.77
13	0.08	1	0.08
14	0.12	3	0.36
15	0.1	6	0.6
16	0.14	13	1.82
17	0.11	9.3	1.023
18	0.13	4.5	0.585
19	0.21	2	0.42
20	0.11	4	0.44
21	0.06	1	0.06
22	0.18	5.21	0.9378
23	0.09	4	0.36
24	0.13	6	0.78
25	0.11	3	0.33
26	0.06	1	0.06
27	0.14	4.53	0.6342
28	0.12	4.71	0.5652
29	0.14	6	0.84
30	0.09	5.81	0.5229
31	0.14	6	0.84
32	4.54	0.12	0.5448
33	4	0.12	0.48
34	4.94	0.12	0.5928
35	4.37	0.17	0.7429
36	5	0.12	0.6
37	3	0.11	0.33
38	3	0.14	0.42
39	4	0.14	0.56
40	5	0.12	0.6
41	4	0.14	0.56
42	4	0.13	0.52
43	7	0.12	0.84
44	4	0.13	0.52
45	1	0.08	0.08
46	2.8	0.13	0.364
47	5	0.09	0.45
48	3	0.12	0.36
49	4	0.09	0.36
50	4	0.1	0.4
51	3.18	0.15	0.477
52	4	0.13	0.52
53	4	0.14	0.56
54	4	0.14	0.56
55	3	0.11	0.33
56	4	0.12	0.48
57	4	0.13	0.52
58	4	0.13	0.52
59	7	0.07	0.49
60	2	0.11	0.22
61	6	0.15	0.9
62	4	0.11	0.44
63	1	0.08	0.08
64	3	0.18	0.54
65	5	0.12	0.6
66	3	0.21	0.63
67	Total		36.3396
68	Weighted average result[/B]		0.559070769

So..the holes from 21 onwards gives a weighted average result of .5590 (I purposely did not include results of holes 1 to 20 as they has better results....just to be a conservative)

Resource target was for 33-41 MT..so the average target was (33+41)/2 = 37MT

now consider avg target of 37MT co-relates to a weighted average result of .7075 (as calculated in the first table based on the first 20 holes)
so, the expected average target based on results for holes no 21 onwards for 11KMS strike = 37 divided by .7075 multiplied by .5590 =29.23MT

However, initial exploration was for 11KMS strike, but in reality , we have 17KMS strike for JORC
Therefore, expected average JORC result is (29.23MT divided by 11 multiplied by 17) = 45.17MT

So, based on the results to date, this alternative statistical calculation predicts a JORC result of around 45.17MT.

this excludes ofcourse any other deeper holes being included and the results of remaining assays.

GLTA !

All my own calculations..not to be relied on for investment..please do your own research