Interesting to note that MRP has completed 10,000m of infill drilling. I think the plan is to get to 30,000m so we are 1/3 way there. So I think another 12mths further drilling at current rate and 10m capital raising. So overlaying 1200m would probably 6 times the amount of drilling and at least six times the cost or more. And they no guarantee that gold mineralisation will extend that deep, might be less than half..
Just looking at some sensitivities and rough estimates:
Column 1
Column 2
Column 3
Column 4
Column 5
Column 6
Column 7
Column 8
0
Length (m)
Depth (m)
Width (m)
Specific Gravity of quartz
Mass Tonnes
Avg Grade
gold oz
1
Current - Boorara MRE
5,950,000
1.2
230,323
2
Mt Charlotte
500
1,200
50
2.6
78,000,000
2.4
6,038,710
3
Boorara - Sensitivities
4
Sensitivity 1 -Southern Stockwork
500
200
40
2.6
10,400,000
1.7
570,323
5
Sensitivity 2 - current extend length to 1500m
1,500
200
40
2.6
31,200,000
1.7
1,710,968
6
Sensitivity 3 half depth of Mt Charlotte
1,500
600
40
2.6
93,600,000
1.7
5,132,903
7
Sensitivity 4 - as 3 but extend depth to Mt Charlotte
1,500
1,200
40
2.6
187,200,000
1.7
10,265,806
MRP Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held