goldhunter11 wrote: GeoD,
This post is to complete my previous post on a lower-bound RE for the Western Flanks and add a few more remarks.
1. Hole WFN-045: A complete set of data is shown in Table 1 of the 25 Feb NR. Please refer to that table to decide on what's missing on Fig 2 of the same reference. It's my take that whoever put the Figure together did not pay too much attention to the detail or bother to provide enough explanation for readers. For example, the unit used in the Legend for grade x thickness should be gpt-m, not g x mAu (this is slang).The colour scheme chosen is not good. Red and Pink look almost the same on a low-rez print (even on the screen they look almost the same). Some unlabelled dots (e.g. the two pink dots to the east of hole 045 (below the sediment layer). Just a few comments to indicate that if they paid a bit more attention, the NR would be much better.
Anyway, back to hole 045, the grades were quite impressive 127gpt @ 110m level, and 103gpt @ 154m level (end of this hole). Agreed that this would be a nice area to scoop up some bulk sample, especiall around hole WFN-29 and 063 (Note hole 065 is a short hole, 50m, to try to come close to hole 029 (22 Jan 2019 NR) which is apprx 45m from the WF decline where they locate the drill platform.
2. Assumptions used in the 1Moz RE for WF:
- 150m: This number is assume based on management indication (slide 8 , Apr Corp Presentation) that the resource has extended (outside the 2016 JORC resource boundary). Strike length of the order of 1km has been discussed. This could be a significant factor in the RE
- 160m Depth: Based on the results we have so far, this number seems reasonable, it could increase (significantly) if the shear zone extend beyound 1k (MS said from 1-2km)
- Width: As seen in the inset of Fig 7.8 (2016 PEA) the width seem to be in the range 20-100m. The min value is at the "waist" but it could be 100m in the NW portion. 60m is not too far off from what we see in Figure 7.8.
- Grade: From what we have seen so far, 8gpt is not too far fetch. Even if the grade is reduced to 4gpt, the addition RE from WF alone would be 0.5Moz (approx 5 years worth of production assuming that they find no additional resource) which can support a profitable operation at HGO mill for several years.
Assuming an initial 100,000 oz/yr @ the profit of US$40M, or C$50M per year is not shabby (assuming US$400/oz profit). Of course, there is a current resource of ~05Moz from the 2016 PEA, and 2Moz RE from HGO property if the deal goes thru in ~June.
GH11
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goldhunter11 wrote: GeoD,
Hole WFN-045 is an interesting hole. It's an old hole and was reported in the last batch (25 Feb NR).It was shown in Fig 2 of that NR with 2 of the intercepts missing. Even though they are short, the grade were much higher (0.56m @ 26gpt, and 1.75m @ 9.38gpt). Note also that this hole is below the sediment layet (some 20m?)
I have drawn a box around the red and shocking pink dots in this figure and came up with some estimate for the RE a few week ago. If we do that again and use the following assumptions for a box with the following dimension: 150m (L) x 160m (D) x 60m (W) and s.g. of 2.8 = 4M tonnes.
At 8gpt this box would give ~1MozAu.
Will provide some discussion later (SH just wiped out my previous writing, so I had to retype a short version of it).
GH11
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pierreg wrote: Insightful post by @Geodan on CEO.ca April 9th in reaction to the new presentation by RNX:
«The new presentation https://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1eapbvl-RNC%20Corporate%20Presentation%20-3-Apr-2019%20FINAL%20%281%29.pdf (am half thru it) is better than prior one. Like how they lay out big time on one slide how many shares and options there are. Guessing someone new has put these slides together. Then first nugget in it is Slide 8 https://imgur.com/a/9sVWSSa Not sure if WFN-045 is new or not, but it now jumps out at me. 19.14 meters at 4.17 grams. It happens to be the most north and the lowest hole of about 20 drilled at tight spacing to the north of previous drilling on Western Flanks. The Sediment layer on that slide shows the bonanza grades are slightly above the sediment layer nearby and to south of WFN-045. WFN-038 is closest to 45 it is 12.7 meters at 3.31 grams. WFN-045 is only hole assayed under the sediment layer and is spectacular width for being over 4 grams (19 meters) that is 63 feet wide. have not checked yet if they have put out a drill map with this info before, but this map jumps out at me. First the tightness of the holes indicates RNC is going to bulk mine this area and get the bonanza grade at same time that is part if it. The only other hole over 4 grams and 15 meters on map (extra wide bulk mining) besides 045 is 033 in sediment layer at 17.47 meters and 4.04 grams. 045 is considerably better and is the only assayed hole under the sediment layer (it looks about 20 meters under sediment layer) This is exciting and something have been trying to find out for a while. I do have questions into them at this time as to what has been found under the sediment layer. There are two more holes under it, but not assayed yet. They have workings within 10 meters above and to also south of this new block so mining it should be fairly easy and fast. Someone could do the math on how many oz is blocked out in this zone am guessing that is a fairly exciting number. With the bonanza grade in center of this block this will be very profitable block to mine. Just one hole, but 045 is very exciting. The only data under sediment layer there is very positive data. Checked and last drill report did have WFN-045 on it, but it was one for 4 maps on a page and did not jump out to me then. By now they should have drilled more holes under the sediment layer at WF. It can be a major boost to reserves if WFN-045 was not a fluke. »