Yes inferred is extrapolation/interpolation - this is because the density of drill results isn't close enough to have the confidence interval to categorise them as anything other than the interpretation of what lies between points.
The next step is to drill tighter spaced holes so that there is less distance between data points to interpolate. It also gives us additional data on variability of thickness/grade etc which informs estimations.
This then gives rise to 3 options. Original interpolation was good, overestimated or underestimated.
These holes have suggested geological models were reasonable. This means that grade/thickness of material is roughly as expected. This will not add any ounces. Will simply move them from inferred to indicated.
Where we get the benefit is that indicated ounces can be moved to an ore reserve and included in the PFS. i.e this allows us to publish a study with a larger production target.
AAR Price at posting:
14.3¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)