Agree. I also think that the edges clearly need a few more drill results to bring them into the MREC which i think we've discussed as well. Essentially if you can't prove it's continous beyond the last hole then need a 200m drill spacing.
They do touch on the resource estimates of the zones left out in the announcement so you'd only be validating your works to theirs so i can appreciate not worth the effort unless personally motivated.
Essentially states lack on continuity as the cause for exclusion but around 50mT in those few areas.
They also also mentioned 0-120mT potential for the hardcap part of the project. At this stage a bonus if they find a way to bring that in as you said more than enough tonnage.
IMV they'll look to move that whole central zone into indicated and then infill drilling potentially on section I as well. IMO they will then have maybe 140-150mT to indicated level which the BFS can be run on which at thumb suck yield 15Y mine life at 10mtpa front end feed capacity. These 2 area's seem to contain the highest grade and best continuity of material so lend themselves to the better economic extraction. Additionally a 3 module arrangement across those areas make sense. 2 at the central one in the eastern.
The only outcome that would sway my opinion is if the preliminary exploration drill results over in 00147 return something even better. Then IMO they may infill drill I along with L area of 00147. Structure up 3 front end mining arrangement, 1 in each tenement with the central part/main plant located in 00148.
For now the tonnages are surplus to requirements of the SS whereby the full 315mT can be used.
Come BFS time only indicated resource can form part of reserves (as you'd be aware). In that instance they will want 150-200mT indicated IMO to leave themselves a surplus quantity once turning into reserves. Then they can underpin a minelife in excess of the 15Y mark formally as part of the study.
SF2TH
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