Thanks gmt, exactly what I was looking for.
Yea interesting report. Page 115 says:
"A true indication of the grade distribution in this type of deposit will only be obtained by underground driving on the structures, and this requires the extension of the Central Decline down to 600 metres vertical depth.
The Company is firmly of the opinion that additional drilling would not necessarily guarantee that the confidence limits on grade distribution would be materially improved, due to the known nature of the mineralisation and the known irregular and non-uniform gold grade distribution."
It also says that the data in each hole only reflects 5-10m radius around that hole due to the variability in the deposit.
So given that then the next part on page 100 that states that they have extrapolated the data beyond the last hole present. See below chart, compare the strike and dip against how far past the last hole the shapes go.
Given the previous comment, I don't see how you can easily estimate and report a grade for this and you may have to question the indicated and inferred resource, and in the new JORC reporting standard the inferred material wouldn't even get classed as inferred, more into the "Potential mineralization" or exploration target category.
Saying that the size of the gold system does have the potential to be a monster and have no doubt mining will be occurring for years to come. Need a good team of narrow vein experienced UG geos and engineers with proven experience, good due diligence and detailed feasibility study to calm the market jitters on various aspects of the project and a step by step development/stoping/drilling plan and Charters Towers has the potential to be the mining hub of NQ once again.
Coloured dots represent pierce points on the indicated resource. Grid is 1000m x 1000m making the spacing up to 300m apart on an indicated resource...hmmm.
My opinion only from my limited research (2 days) and knowledge of the district.
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