With the maiden resource estimate (MRE) for the Storm prospect due by the end of November (see last week's presentation) I thought it would be good to put our heads together and see if we can collectively estimate / guestimate what it might be. This discussion can be partly for serious purposes but perhaps also with an element of sport (to see how close we can get - and potential bragging rights for the closest number, assuming at some point we will diverge on opinions here).
The background is that the MRE will contain the 4100N zone for which we have dimensions (1300 length x 300m width x 24m deep - 5 July 2023 announcement). However it will also include the 2750 and 2200 zones, for which I personally haven't been able to estimate the sizes.
If we were going to estimate the quantity of copper the MRE will contain, what are fair assumptions? I'd suggest:
Ore density - 2.8 - a minimum given it's the density of the lowest major mineral, dolomite. All the copper minerals (sulphides) have densities of at least 4.
Grade: 1.5% copper - also from a 2023 announcement though I can't remember which one
Lightning Ridge and Thunder haven't yet been drilled to the level needed for inclusion in the MRE - they will need to wait until 2024 drilling before we can even start to estimate their size and grade with any confidence, much less include them in an MRE.For the zones that will be included, I don't think we need to address non-homogeneity, since all the drill grades are averages - there will always be uncertainty and reality could go in either direction. Any other thoughts?
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