LEG 0.00% 1.3¢ legend mining limited

"Assay on Hole 8 at Mawson have exceeded our wildest dreams". LEG MD, page-99

  1. 15 Posts.
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    let's look at Nova to get an idea of scale!

    ball park figures to keep it simple, assuming Nova type grades for Ni and Cu.

    A quick google search indicates:

    IGO effectively paid ~$100M
    per 1M tonnes of Ni ore for Nova

    ~17Mt for $ 1.8 Bn

    17 Mt tonnes
    could be outlined by a rectangle
    20m thick x 200m down/up dip x 1000m
    long x density,

    (let's say 4.2 for density (sg) assuming combination of heavy matrix to massive sulphide.)

    Example: let's take a smaller block of Nickel Sulphide mineralisation:

    20m x 50m x 500m
    x 4.2 sg

    ~ 2Mt

    or 20m x 100m x 250m
    x 4.2 sg

    ~2Mt

    let's say at $100M/Mt

    very simplistically, something of that size with Nova type grades could be worth in the order of $200M to the right company,
    assuming it could be mined economically.

    Mining! now that's a whole different topic!

    So it's always useful to draw a schematic rectangle ( to scale) on paper or in your mind to visualise what a 5Mt or 10Mt ore body might look like in 3D.

    As one can probably imagine to drill something economic takes a lot of drill holes and time to complete.

    something in the order of ~30 holes could possibly outline/delineate ~2Mt into a resource as a rough guide, 6x 50m cross sections , 4 X holes per section,
    plus some infill holes to check data, including twin holes and /or scissor holes if warranted.

    Hope that helps you get a feel for scale when reviewing drilling data.
 
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