So i've had a read of the announcement. My summary follows;
- Currently undertaking a 8,300m reverse circulation (RC), and diamond core (DD) drilling programme,
- Targets are within Yunndaga, Lady Shenton, and First Hit sites,
- Program set to conclude late May 2020, but may be extended based on results,
- Targeting near-surface and deeper mineralisation, the exploration targets are at sites of predicted continuation of high-grade gold mineralisation,
- Assuming best case scenario, the drilling campaign may uncover between 380,300t - 668,250t at grades of 16g/t - 32g/t, in figures this is 6,084,800g (380,300 x 16) to 21,384,000g (668,250 x 32),
- 6,084,800g at current gold price ($53.11/g) is $21,384,000,
- 21,384,000g at current gold price ($53.11/g) is $1,135,704,240,
- My figures will likely be off as I equated a worst case scenario of 16g/t (where Yunndaga has an average lower than that - 10g/t min). Happy to discuss further,
- $KWR has a market cap of $14.62m. Lots of room to move.
Yunndaga (Princess May) Site
- Mined between 1896 - 1926, 1934 - 1936, and 1995 to 1998,
- Produced 526,000t @ 16g/t (total 270,580 oz gold),
- High-grade mineralisation present in mine depths,
- Depth exploration for a mine extension underway,
- Exploration target is estimated at 194,000t - 388,800t @ 10g/t - 16g/t gold.
Lady Shenton Site
- Mined between 1895 - 1905, 1906 - 1914, 1916 - 1923, 1934 - 1939, and 1996 - 1999,
- Production historically from 1894 - 1939 was 196,392t @ 32.3g/t gold, equating to 204,756 oz gold,
- Exploration target is estimated at 121,500t - 182,250t @ 16g/t - 32g/t gold.
First Hit Site
- Mined between 1929 - 1948 and 1996 - 1997,
- Production of 71,269t @ 23.4g/t gold, equating to 53,748 oz gold,
- Exploration target is estimated at 64,800t - 97,200t @ 16g/t - 32g/t.