Good afternoon all. I hope nobody is offended by a non-holder starting a new thread. My buy order is in, so I should be updating my position to "HELD" on Monday.
Just looking at some rough maths for a potential upgrade at Cowalinya.
The 2021 drilling covered around 1.5% of the area of the tenement. The new campaign is set to add an additional 11.5% of the area of the tenement (total 13%).... 13 ÷ 1.5 = 8.67 times the area covered by the Inferred Resource of 28Mt = a potential upgrade to over (8.67×28) 240 million tonnes @ 625ppm.
So that just sounds ridiculous right.
Let's use a more conservative formula. The current Inferred Resource came from 109 holes and 3098m of vertical drilling. The new campaign is 10,000m or 3.23 times the drilling for the Inferred Resource of 28Mt = a potential upgrade to over 3.23×28) 90 million tonnes @ 625ppm.
Happy to get aboard this ship!!!
Obviously these numbers could end up lower BUT (with higher avg thickness and grades) they could also end up higher!!
Good luck to us all.
HRE General Discussion
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