Just to circle back on this... high grade is certainly king and we’ve seen stocks with these high grade shoots like SPX really rocket recently. The problem is that like toweranna these high grade veins are normally only a couple of metres thick and thus have high dilution. Below you can see EGA’s results where they had a resource grading 9.2g/t which turned into mineable reserve grading just 4.4g/t (over 50% dilution) which they then used an ore sorter to upgrade this by 1.6x to a 7.2g/t feed grade. Be interesting to see what becomes of the high grade veins at toweranna and how the ore sorting tests go, there may be something economical there.
Simon Lill interview, page-11
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