Novo's announcement on Wednesday was terrible. That table of values combined with their description of how they did the analysis and what names they gave to each section of sample that was split off was very confusing.
It took me a long time to convince myself that the entire package taken from Purdey's Reward did go 67 gpt.
At least ARV clarified this with their third dot point in their repackaging of the Novo ann.
However, so much more info could have been provided. It might have allowed the run of the mill investor (you and I , I would think) to glean a lot more detail out of the results. Just HOW good were they?
Well, the most blunt analysis shows that the entire 550 kg or so went 67 gpt. Awesome!
However, here are some calculations that a schoolchild could do using a ten dollar calculator.
Why couldn't the well paid boffins at Novo or Artemis do them and publish them?
By my (hope I haven't made an error here. Please check them for yoursef) calculations atm :
There was a total of 36.38 grams of gold in the 542.3 kg of rock taken from Purdey"s.
Of this , 30.1 grams were in nuggets. The amount of "nugget material" that the 30.1 grams of gold came from was 10.76 kg.
There were 6.28 grams of gold in the remainder of the "dirt" i.e the material that did not have nuggets. The amount of this "dirt" was 531.54 kg - or 0.53154 tonnes.
Now, 6.28 g of gold in 0.53154 tonnes of dirt = ........... = drum roll ......... = 11.8 g/T !!!
So even if you take out the nuggets (which comprise over 80% of the gold), you still have an 'orebody' that goes 11.8 g/T. That is just awesome.
The question now becomes "How large is this 'orebody'?" Is it or will it ever be an orebody as we normally know?
Well, the map provided by ARV in yesterday's ann gives a clue as to the potential size.
The Test Sample Pit was in a section marked as Nugget Distribution. This section looks like it is about 300 metres long and there are 4 of these.
Those are my calculations. Anybody is welcome to correct me, and of course dyor.
Cheers people.
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