To my way of thinking that's a fairly good intercept at 22g per tonne.
If that sort of thickness and density extended over say100m x 100m area the gold content would be impressive.
100m x 100m x 6m x 2.5t(a rough density of rock) x 22g/t (gold content) divided by 28,35 (grams per oz) x $US2200 (current gold price) divided by 0.65 (fx) = around $A400 million worth of gold.
Not confident of my calculations above... No idea how big the deposit is.. No idea how consistent the gold density is... No idea if the deposit be accessed economically.... 91m below the surface.
I'm down 95% in the money I've put into this company so I think I'm trying to hold onto some hope that I could get a small improvement.
PRX Price at posting:
0.5¢ Sentiment: None Disclosure: Held
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