The issue of whether or not there's fine gold in the bulk sample that's not in the halos around the nuggets is hard to disprove and it's hard to argue against QH's opinions. QH's opinion is supported by the fact that the less grams per ton in the sorted concentrate, the less grams per ton you have in the sorted tailings i.e. if there was a separate fine gold component throughout then it wouldn't vary by subsample in proportion to amount of gold nuggets. The implications are that you can significantly reduce processing costs if you trust the Steinert X-Ray machine is accurate and either not process the sorted tailings or heap-leach the sorted tailings. Lots to think about which I'm sure QH and DL are doing.
Overall, Novo recovered 40.1 grams of gold.
Novo broke the sample into 2 subsamples, #1 and #2. Novo divided both subsamples into 2 categories: sorted concentrate and sorted tailings. The sorted concentrate consisted of -6 centimeters chunks or ore with gold separated out by the Steinert X-Ray machine and the less than -2 millimeter particles from the initial crushing operation. The sorted tailings were the -6 centimeters chunks of ore not containing enough gold to be separated out by the Steinert X-Ray machine. Grams per ton for each of the subsamples broken out by sorted concentrate (SC) and sorted tailings (ST) based on my calculations are:
Subsample #1SC:3,393 grams per ton
Subsample #2 SC:2,079 grams per ton
Subsample #1 ST: 15.1 grams per ton
Subsample #2 ST:8.43 grams per ton
Calculation of the above numbers follows. Hope I didn't make any math errors so feel free to point out what's wrong:
Overall sample weight1,195.57 lbs
Subsample #1 weight601.42 lbs
Subsample #2 weight 594.50 lbs
Subsample #1 SC Calculations:
weight: 601.42 lbs overall x 2.15% (SC weight % provided by Novo) = 12.93 lbs
tonnage %:601.42 lbs divided by 2,000 lbs = 30.071% of a ton
total grams: 30.071% of a ton x 87.76 gpt recovered (Novo number) = 26.39 grams
grams recovered: 26.39 grams x 83.12% (SC % provided by Novo) = 21.9354 grams
SC tonnage %: 12.93 divided by 2,000 lbs = 0.6465% of a ton
SC grams per ton: 21.9354 grams divided by 0.6465% tonnage = 3,393 gpt
Subsample #2 SC Calculations:
weight: 594.50 lbs overall x 1.82% (SC weight % provided by Novo) = 10.82 lbs
tonnage %:594.50 lbs divided by 2,000 lbs = 29.725% of a ton
total grams: 29.725% of a ton x 46.14 gpt recovered (Novo number) = 13.715 grams
grams recovered: 13.71 grams x 83.12% (SC % provided by Novo) = 11.2483 grams
SC tonnage %: 10.82 lbs divided by 2,000 lbs = 0.541% of a ton
SC grams per ton: 11.2483 grams divided by 0.541% tonnage = 2,079 gpt
Subsample #1 ST Calculations:
weight: 601.42 lbs overall x 97.85% (ST weight % provided by Novo) = 588.49 lbs
tonnage %:588.49 lbs divided by 2,000 lbs = 29.4245% of a ton
total grams: 26.39 overall grams - SC grams of 21.94 = 4.45 grams
ST grams per ton: 4.45 grams divided by 29.4245% tonnage = 15.1 gpt
Subsample #2 ST Calculations:
Weight: 594.5 lbs overall x 98.18% (ST weight % provided by Novo) = 583.68 lbs
tonnage %:583.68 lbs divided by 2,000 lbs = 29.184% of a ton
total grams: 13.71 overall grams less SC grams of 11.25 = 2.46 grams
ST grams per ton: 2.46 grams divided by 29.184% tonnage = 8.43 gpt
ARV Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
