Unfortunately, not that simple. The JORC takes into account probabilities of grades tailing off the further away from the hole etc. etc.
So, if you had four holes drilled in a square with a side of 100m with 12m at 800g/T you would get one figure for a resource, based on an empirical extrapolation of the grades between the holes. If you now drill another five holes, one each half way down the sides (now at a 50m spacing) and one in the middle of the square, also grading 12m at 800g/T, you'll get a different (better) resource figure. Because you've removed some uncertainty. That's why the infill assays are so important.
By the sounds of it, JA, having seen the cores, is confident that the assays will confirm the contiguity of the ore body, to the benefit of the JORC.
The 200g/T (if correct) is meaningless by itself. What's the megaTonnage? If the infills DO confirm the ore body, it'll be rather high. And there are four other areas of similar size and soil anomalies to be tested yet!
IVR Price at posting:
18.1¢ Sentiment: Buy Disclosure: Held
