This is significant in terms of what they have been doing. INFILL DRILLING....
You need to understand the difference between in-fill drilling and step out drilling.
This upgrade is based on infill results, not step out results. Infill proves up the known ounces , step out increases the size of the deposit and ounces contained....
Infill drilling is a thankless task , aimed at moving the known ounces up the ladder of confidence. Inferred ounces have become indicated ounces. So now they can show with greater confidence that they have what they say they have. I have pointed this out several times here on the threads, infill drilling is a thankless task , an exspensive task, but a necessary task to progress feasibility studies....
I also mentioned that I expected the average grades to increase, which they have . And this is a nice little bonus that you don't always get at this stage ( I've seen plenty of co's go the other way and get lower grades as the prove up the resource). So this is a good sign.
The higher grade component of the resource now contains 15.7 Mt at 3.2 g/t gold for 1.6 million ounces !!
This material has the potential to provide higher grade feed for the processing facility in the early years of production to facilitate rapid capital pay back.
The PFS should be looking good imo.
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This is significant in terms of what they have been doing....
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