CTO 0.00% 0.4¢ citigold corporation limited

floor, page-16

  1. 95 Posts.
    Hey, sydneysider - the 10 Moz resource HAS been drilled. Read their reports on their web site - 1,551 significant drill intersections from 1,800 drill holes totalling 146,000 metres of drilling.
    The average grade of the drilled resources matches the previous (historical) production grade at the same cut-off grade.
    An Inferred Resource is NOT a guess - the JORC Code prevents the publication of ANY resource figures unless there is a resonable expectation that the resource can be economically extracted.
    Citigold is planning to extract 6.8 Moz from its 10 Moz resource over 30 years - that equates to 68% of the resource ounces turning into reserve ounces with closer drill spacings and underground bulk sampling - that's about the industry norm.
    Sound's good to me.
 
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