As a refresher, the current JORC is 45.19MT @ 1.32%. 30.17MT of this is Measured and Indicated while 15.02MT is still inferred.
This next image shows two areas, one in blue and one in black. The blue area are gaps in the existing JORC due to lack of prior drilling.
We know this blue area (above) will mostly fill up with mineralised pegs and therefore tonnage because we have already seen so from a few cross sections release post-JORC, including this cross section showing the hole (170) drilled immediately down dip from hole 60 has hit mineralised pegs (a large amount of them as well - 71m cumulative).
The next question is the potential for additional tonnage to be added in relation to the area marked in black (approx. 500m x 500m), but it’s not a square shape due to a thin section having already been drilled to depth (holes 55 and 107). We don’t know exactly how much additional tonnage will be added, but we know it will more than likely be significant because we know some holes are showing up to 100m cumulative visual mineralisation (#158).
As an estimate, if we simply take the most eastern column of holes drilled to depth and then apply these thicknesses to the eastern border of the tenement (with some assumed reductions in thickness as we move every 100m east – for the sake of a conservative estimate), then we end up with this calculation:
400m width * 250m strike * 28.6m estimated average thickness * 2.7 = 7.72MT
Ithink 28.6m as an average thickness is very conservative given some of the recent visuals released by the company – as is the strike length I’ve assumed.So I feel pretty confidence 7.72MT should be a base to work from.
The other area for additional tonnage is the SW corridor as per this image:
If I model my calcs in the same way as what I did with Deeps (above), I end up with the calc below (which assumes thickness from the southern most row of holes for which we already have assays and then applies a reduction in thickness for each row we move further south):
400m * 550m * 10m (estimated average thickness) * 2.7 =
5.94MTSo in total – a combined estimate for additional tonnage is
13.66MT (~58MT total JORC).I have a low level of confidence in these numbers because of the number of assays which are still to be reported, but if you dig deep enough, you can form a reasonable view based on existing information about whether the mineralisation and thicknesses are continuing (for example, the SW corridor is thinning while the deeps section is still thickening).
When I say low level of confidence, I mean that I think the actual reported JORC is very likely to be either higher or lower (to a decent degree) than the 58MT I estimate. Once we have the assays I will be much more confident in my calcs.
(20min delay)
