re: Ann: Orinoco to Commence Exploration Decl...
Jimone:
I just picked a figure out of the sky, being that the area will be 250m X 300m to get a JORC compliant Mineral Resource. But on further research in the latest announcement in Figure 1. They have drawn the decline on a scaled plan.
It will be roughly 100m.
Decline:
100m X 2.5m X 2m X 2.7 = 1350 tones
8.5g/t = 11,475 grams
360 onces at $1500 approx = $0.54 million
Cost of Decline:
$2020 X 100m = $ 202,000
OGX Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
