I'd actually be pretty doubtful that the deeper mineralisation below the $1400 pit shell on the 9260N section would be mineable Spec. Those grades don't look high enough to drive the pit optimisation any further down than where it sits now. You're talking taking the pit another 100m lower and subsequently making it considerably wider, thereby probably doubling the total volume of material movement for the entire project - and most of that extra material would be waste.
If you think of it in total oz per vertical meter, with open pit mining you want to mine as many oz per vertical meter as you can and simultaneously remove the least amount of waste material as possible. When you need to move huge volumes of extra waste to get the same oz per vertical meter, the equation becomes uneconomic, because every extra waste tonne moved is costing you money to do it.
Some low-grade open pit margins are so fine that the ROM stockpiles can he handled once, and once only i.e. Truck tip-pile to ROM loader to jaw crusher. Job done. But as soon as you re-handle those stockpiles or shuffle them around you've just turned the ore into waste because you spent an extra $5-8 per tonne to move it 25-30m.
The drilling was Resource Definition drilling meaning it was designed to confirm the existing geological interpretation within the existing pit shell, and also tighten the drill spacing within future mining areas, which it has. So all in all looks like they have a pretty viable project.
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