Thank you, Wombat.
This is what i was chasing:
https://newswire.iguana2.com/af5f4d73c1a54a33/nva.asx/3A532802/NVA_Estelle_Gold_District_Technical_Presentation
everything looks OK. Based on the information shown in that prezo, i would say the odds of finding significantly more gold in the remaining targets are certainly not guaranteed. The targets are appear to pretty much soley be based on a chargeability survey.
now, onto blocks A and B.
they are saying 2.5 million oz with a recovery of .76%. Firstly, this is 100% inferred, which hopefully we all know the implications of. Probably more important though is the grade:
The cutoff used in the reported figures is pretty low. the cuttoff for what they are including in their resource (inferred) reporting is only 0.18g/t. For reference, the cutoff in Fort Knox's reporting is about 0.4 g/t (however, i do understand they report some material at a lower cutoff that they send to stock piles for possible future extraction).
back to NVA, i think a better number to look at is the 0.4 or 0.5 g/t cutoff resource estimation, which is at best 1/2 of the current reported inferred resource.
Lastly, to make this economic the ore will need to be shallow and quite continuous. They have the shallow bit all good, but the continuous bit is still unknown....
I'm in. Most likely they will put a positive spin on the upcoming drilling results announcement and it will ad value to the stock.
