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Bullboard - Stock Discussion Forum Great Bear Resources Ltd. GTBAF

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to... see more

OTCQX:GTBAF - Post Discussion

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Post by lechmeir on Jul 12, 2021 6:39am

Bangor

"any idea how many ounces of gold we have"


We're looking at 5 kilometers of strike length...  possibly twice that, but from the drilling it looks like the maiden resource estimate will focus on maybe 2600 meters.

Here's my math - you can use your own numbers
 
length - 2600 meters
 width - 150
 depth - 400
 cubic meters -  156,000,000
 tons -  421,200,000


at 1 gram per ton
 421,200,000 grams     13,587,097 ounces

at 2 gram per ton
 842,400,000 grams       27,174,194 ounces

at 3 gram per ton
 1,263,600,000 grams     40,761,290 ounces





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Comment by CdnBadger on Jul 12, 2021 6:59pm
Does your tonnage take into account specific gravity?
Comment by lechmeir on Jul 12, 2021 10:02pm
I used 2.7 tons per meter. cubic meters -  156,000,000  tons -  421,200,000
Comment by goldbuz on Jul 13, 2021 12:02pm
Lechmeir, I really like your estimate of over 13mil.oz. , but as far as strike length in the estimate, I believe that the length will be  4 to 4.5 kilometres. Just going by what CT has said and presented in his interviews they should have enough drilling done to do an MR on the 4 or 4.5 kl length. 
Comment by flashcash on Jul 13, 2021 12:15pm
I will be happy with a 2 to 4 million oz MR in an open pit :-) GLA
Comment by lechmeir on Jul 13, 2021 2:19pm
Goldbuz.  From what CT is saying, it should be longer.  You're correct.  I also hope to see more than 1 gram per ton.  I'm just trying to weigh the odds against myself and err on the side of caution.  Even at that it looks great.
Comment by Ivorygull on Jul 13, 2021 3:32pm
leichmier, looking at the plan map you provided, almost half of that 4.5-5km has greater than 20 grams per ton in it, so your 2600m has basically that much in it. IMO, that would make it an easy 3 grams per ton in your 2600m, which I think will be closer to 5 grams, and that over the whole 4-5-5km, we get that 3 grams per ton. I like to dream big. Only 150 sleeps to go, hopefully.
Comment by Ivorygull on Jul 13, 2021 3:37pm
lechmeir........sorry, I spelt your name wrong. In the end, what ever we have, it will make a lot of us a lot of money.
Comment by goldbuz on Jul 13, 2021 3:45pm
Nothing wrong with dreaming big. CT has been saying that this is going to be a tier 1 mine. To have a tier 1 mine you need at least 5mil.oz. to start. That being said, and I have nothing to back this up, my guess is a 8 mil.oz MR.
Comment by lechmeir on Jul 14, 2021 7:42am
Ivorygull - I did the calculations up to 20 grams...  I only posted the first three iterations.  (quoted again below) I'm trying to keep it modest while hoping for more than I can even imagine....  When you realize that 3 grams per ton over 2600 meters is neary 41 million f'king ounces, why, it just makes it harder to even sleep. In reality this has some blank spots in it ...more  
Comment by Ivorygull on Jul 14, 2021 10:49am
Good times for sure lechmeir :)
Comment by Bangor on Jul 14, 2021 11:35am
Thanks for the info good insight. As a shareholder I think it would be better for us if we're bought out I know last year Barrick ceo said it was a very interesting story. Imho
Comment by lechmeir on Jul 15, 2021 7:33am
Bangor - "better for us if we're bought out" That's the endgame.  Maiden Resource Estimate is due out, probably first quarter 2022.  (PEA to follow.) I imagine the majors are already doing whatever calculations they can, based on public information and their access to the core shack.  Once the MRE drops, we'll probably be looking at offers.
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