Obviously just a thumb suck, but I can guess the MRE expansion and put it into some context with reference to the longsection. In rough terms, additional drilling has:
Extended 350m in depth under the Nth Main and Southern Shoots (thick red vertical lines). Last MRE was ~750m from surface, so that's a 50% increase in depth and tonnage potential (assuming they stick with 75m extrapolation for MRE boundary beyond last drill hole)
But, all best results in 70 and 77 series holes in the Nth Shoot are inside last MRE boundary, meaning these results change but don't necessarily increase the new MRE in this area. The holes 81, 94 and 98 series mostly determine the tonnes/grade of the 350m MRE depth extension via higher weighting being deeper and more relevant to the estimation algo. The deeper holes are generally thinner and the Nth Shoot pinches out against the lease boundary.
The deepest holes 98W1 is great and will heavily weight the last 75m extension, as will hole 94W3 for the Southern Shoot. Southern shoot has some good, some poor holes, so the MRE will average them out for good tonnes/grade. Hard to say if new drilling upgrades or downgrades the deeper extrapolated MRE in the Sth Shoot? 94W3 was a massive win considering surrounding holes are all avg to poor...
Keep in mind the upper third of the old MRE was thinner, patchier and/or mined out. The new 350m depth extension looks better than the top 350m of the old MRE, thus new 350m will add proportionally more tonnes/metal than a strictly pro-rata basis.
The Southern MRE area has been a huge disappointment and realistically shrinks and/or is donwgraded. Depth extensions are not economic from holes 107 and 107W1, neither are deeper holes 92 and 93 which were NSI but never plotted on any longsection?
On balance, a ~50% increase in Nth Main and Souther Shoot sectional area, helped by possibly increased HG strike length at depth, is reduced slightly by pinching against the lease boundary, generally lower average tonnes than inside the deeper parts of the old MRE, and no additions in the South. So new MRE can't be a 50% increase, but given the upper Nth Main is patchier and/or mined out we have to get more than 25% extra tonnes/metal. Simples, expect a 33% increase from 7.7Mt to 10.0Mt at slightly lower grade...
GLTAH
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