Hi@Sully72I have never actually calculated the equivalent grade...

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nofiller

143 Posts.

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24/10/23

12:13

Post #: 70503620

Originally posted by Sully72: ↑
IIltani Resources Ltd has put out the first round of results from the Herberton silver project this morning.

The results indicate that the company has potentially uncovered a large mineralised system. Whilst it is early days for the project, the silver-lead-zinc equivalent results in most of the holes are comparable or higher than Silver Mines Ltd Bowdens Silver project (ASX:SVL). Silver Mine is currently progressing Bowdens through the approval process to a mine development and its current Market Cap is $238.7M.

Hole 1 at Herberton has a 38 metre intersect with an Ag equivalent of 183.2 g/t. Hole 3 has a 41 metre intersect with an Ag equivalent of 102.8 g/t. Hole 4 has a 5 metre intersect with a Ag equivalent of 155.3 g/t. This is compared to SVL’s Bowdens mine 30 million tonne mining reserve with a 101 g/t Ag equivalent.

The above comparable grades do not include the tin-indium-antimony grades which would likely add additional value to any resource find.

Further results are due in the next 2 - 3 weeks. We eagerly await receiving these, but today's results were a terrific start for the Company.
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Hi@Sully72

I have never actually calculated the equivalent grade before, and seeing your helpful post thought that I would give it a crack. I have had a go at putting it together for the recent announcement. Can you let me know if these align with your calcs please?

Hole Intersect Intersect Length Intersect Eg in Ag
1 ORR010 ORR010 (Intersect 1) 41m 133.6
2 ORR010 (Intersect 2) 5m 125.27
3 ORR010 (Intersect 3) 8m 327.52
4 ORR011 ORR011 (Intersect 1) 7m 106.17
5 ORR011 (Intersect 2) 6m 281.28
6 ORR011 (Intersect 3) 10m 163.82
7 ORR011 (Intersect 4) 2m 614.73
8 ORR012 ORR012 (Intersect 1) 5m 171.73
9 ORR012 (Intersect 2) 9m 242.02
10 ORR012 (Intersect 3) 3m 598.36
11 ORR012 (Intersect 4) 5m 109.26

Would also be interesting to hear your thoughts on the grades / intersects. Given my understanding that:

Average silver mines are circa 125g/t; and

Generally, low grade is 0 - 150g/t Ag, medium grade is 150 - 350g/t Ag and high grade is 350g/t+

Equivalent grade probably oversimplifies things a whole lot, but using it as a metric, these drill results appear quite substantial, although (currently) potentially uneconomic given the small / narrow intersects.

Thanks in advance.

NF

	Hole	Intersect	Intersect Length	Intersect Eg in Ag
1	ORR010	ORR010 (Intersect 1)	41m	133.6
2		ORR010 (Intersect 2)	5m	125.27
3		ORR010 (Intersect 3)	8m	327.52
4	ORR011	ORR011 (Intersect 1)	7m	106.17
5		ORR011 (Intersect 2)	6m	281.28
6		ORR011 (Intersect 3)	10m	163.82
7		ORR011 (Intersect 4)	2m	614.73
8	ORR012	ORR012 (Intersect 1)	5m	171.73
9		ORR012 (Intersect 2)	9m	242.02
10		ORR012 (Intersect 3)	3m	598.36
11		ORR012 (Intersect 4)	5m	109.26