re the reserve - as you noted the infilling of Pepper is completed and they are conducted extensional drilling which I assume will only add to inferred not indicated.
Pepper is currently 438k Oz @ 7.66g/t. the weighted average grade of Pepper drill holes is 18g/t within the current MRE (this excludes the low grade edges that are not in the current MRE and drilled outside the current MRE). NN weighted average UG grade of 9.5g/t excluding any holes with assays less than 4g/t (I have only included holes since January 2023) - however that may be a little low as some of the earlier holes had a top-cut of less than 100g/t so maybe the grade is more like 11g/t and even 12g/t on a like with like Pepper comparison (and my 11-12 g/t may even be too high).
Currently the UG NN indicated resource has a grade of 8.74g/t. Using the ratio method and NN as a base it is conceivable for the Pepper indicated grade to be somewhere between 12 g/t and 15g/t - if my estimate were to be sensible then the amount of Pepper indicated MRE may be between 675k Oz and 850k Oz or a total for NN+Pepper UG of 1.75m Oz and 1.95m Oz plus the OP NN making a possible indicated MRE of 1.8m Oz to 2.0m Oz.
This is a simple but common sense approach to come up with an indicated MRE but could easily be out by a few 100k Oz either way.
The 1.7m Oz seems sensible and possibly a bit low. My own view is that an indicated MRE of between 1.7m Oz and 2.1m Oz is feasible.
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