I have done a rough case senario and its implications to the...

I have done a rough case senario and its implications to the head grade for the JORC revision.

Based on holes 32,33 and 25 which if were in a straight line would be 300m of strike. Ive calculated a strike line of 350m allowing for another 25m on either side of 25 and 33 which is very conservative, ive also used a weight average of 2.5T per cubic meter unlike some that use 3T per meter.

Each of these holes delivered over a 300m strike

Hole 25 - 222m @ 2.15% Cu

Hole 32 - 187m @ 2.62% Cu

Hole 33 - 231m @ 4.5% Cu

Ive calculated a 350m strike X 100m width(allowing 50m either side of the strike line for the supergene blanket) X 215m average thickness averaging 3% Cu, which is open in holes 32 and 33.

This gives a total of 7.52m cubic meters X 2.5 T per meter = 18.8 M tonness at an average of 3% Cu for 564k tonnes of copper metal.

Ive then subtracted the 18.8m tonnes from the overall 87m tonnes to work out the lower grade tonnage which gives 68m @ 0.94% for 639k Tonnes of copper.

Ive then added both copper metal tonnages which gives 1.2m tonnes of copper in an inferred status not taking any upgrade in status other than purely trying to see what type of effect the high grade discovery could do with the head grade currently sitting at 0.94% Cu.

If you then divide the metal total of 1.2m Tonnes of copper within the 87m tonnes of existing tonnage the head grade of 0.94% then bumps up to 1.375% Cu.

This is pure speculation as more drilling needs to be done, both ends of strike are open which is why only allowed 25m either side of the ending holes, also i didnt calculate any extentions at depth but took a consevative 50m width on each side of the strike line, with that rectangle i drove it down and just took the average thickness discovered multiplied X the average grade.

Dragone gave a rough estimate of 1.2% - 1.5% which i thought was a fair call, the only speculative part of this eqaution is the 100m width surface area, the strike is solid, the grade is solid and so is the thickness. The surface width could be as low as 50m or as wide as 200m which is the variable.

The other variable which could compensate the surface width is depth extentions and strike extentions which are all open.

The current copper in the inferred JORC is 817,800T, the high grade zone could boost this nearly 400,000 tonnes based on grade alone without any extra tonnage added which would be about a 50% increase.

Ive based this on the supergene blanket theory being suggested by the company, the head grade is going higher no doubt th eonly question is how far. Anything heading towards 1.5% in such large tonnage would be a huge result.