Based on the diagrams in the most recent announcement, I thought I might take a shot at estimating the JORC.
Remember, I am not qualified and I’m just taking a stab based on information provided and take no responsibility for investment decisions.
Thaduna: - 1350m long (let’s use 1000m) by around 250m wide (let’s use 150m) and management have drilled as deep as 350 metres (let’s use 200m). We could have a resource of 30Mt at some stage. Imagine an average grade of 1%. That is a resource of 300,000t.
Green Dragon: - 400m long (let’s use 300m) by around 200m wide (let’s use 150m) and management have drilled as deep as 225 metres (let’s use 150m to be conservative). We could have a resource of 6.75Mt at some stage. Imagine an average grade of 1%. That is a resource of 67,500t.
I would presume a large majority of the resource would be inferred , however plenty of drilling has been carried out.
Based on these figures, the JORC would be something very special. Let me know if this methodology is way off. I look forward to your estimates.
DYOR
VRX Price at posting:
47.2¢ Sentiment: Buy Disclosure: Held
