ALK 2.53% 40.5¢ alkane resources limited

I looked at the current NMPP resource again and ran some numbers...

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    I looked at the current NMPP resource again and ran some numbers to work out what is needed to bring the average grade of this resource above 0.6g/t AuEq in order to break that psychological barrier and take NMPP to the midfield of the porphyry operations instead of being at the upper end of the entry level which is still good but not solid from AISC point of view.

    Basically, ALK needs to add around 3.5Moz Eq at 0.74g/t to end up with 0.605 g/t AuEq resource.

    It may sounds a lot but it is not. ALK has identified few high grade areas at depth they can target to add these ounces without too much risk but at some cost.
    However, costs should be measured against the benefits and I am sure if this is done ALK will discover benefits will outweigh costs. As such move will also command higher price from any potential JV partner - which is one of benefits.

    While we don't know what follow up holes around 108 & 094 will produce, this zone on its own has the potential to provide significant part of that 3.5Moz target.

    094 produced around 592m @ 0.62g/t AuEq using 0.3g/t cut-off. In this case it is fair to assume there is a zone of around 220m at around 0.8g/t AuEq.
    108 produced around 46m @ around 0.9g/t AuEq at shallower depth than 094 but from the same mineralised zone.

    Can't wait to see what the follow up holes produce and hope the grades and widths hold or get better at depth - if ALK did test below 094.
 
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