Resources are inclusive of reserves.
The 1m ounces in resource are not important per se. It is what you can mine. Smarts Deeps at 3 g/t is not going to be mined. Small parts / partial underground maybe.
What's interesting is if these 1m ounces in resources can grow to 2 or 3 million by focussed drilling with a viable deposit.
E.g. when Spearpoint results came out I have hinted at 30-40k ounces of gold. Now Troy has 43k ounces there. How could the estimate be calculated? By guessing at grades (think I hinted at the somewhat low grade nature too) and strike length.
And now consider Goldstar. It has absolutely massive strike length. It is not something that is just drilled on old artisanal pits like Smarts. This has the potential to become a world-class deposit (>100k production per annum and long reserve life). We do not know of course as long as there is no additional drilling.
TRY Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
