re: Ann: New Discovery at Cypress Prospect wi... Scorp,
A conservative estimate using 500m x 500m x 10m x 1.8 (assumed density) x 5g/t (assumed average grade) and then converting to ounces comes in around 800k ounces. Maybe the average grade assumption is too high but the area should be more than 500m x 500m.
Anyway who really knows until they do the drilling and estimate the resource correctly. The key point to remember though is that this is just the Buccaneer zone. Once they add the old Pirate zone to their JORC resource then the combined ounces must be up around the 5 million somewhere? Does anyone else have a view on this?
Ann: New Discovery at Cypress Prospect with 26m @, page-13
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