Post by
nozzpack on Apr 24, 2024 9:17am
Drill intensity Conversion of 2.5 million ounces to Reserves
The NPV and mine life reflects only the 2.1 million ounces of gold in the Reserve Category.
There are 4.6 million ounces of gold in Galliano MRE is 43-101 Resources, including 3.5 million ounces in its Measured and Indicated.
The recent drill intensity conversion added another 181000 ounces to the M&I categories so now the MRE of that category is about 3.7 million ounces of which only 2.1 million ounces are in the Reserves.
That leaves 1.6 million ounces of M&I available to be converted to Reserves by increasing the drill intensity such that the spatial drill sampling rate meets Reserves requirements..
Plus another 1.1 million ounces in the Inferred category to be converted by increasing infill and step out drill intensity to meet M&I sampling requirements .
As we saw with Abore, the step out and infill exceeded the original number of inferred ounces ready to be converted to M&I .
Taken together, there are nearly 2.5 ounces of MRE gold ounces ( mostly high quality M&I category ) available to be converted to Reserves by additional infill and step out drilling.
That is, there is a very high probability that the LOM ( Life of Mine ) could be doubled by high intensity infill and step out conversion drilling of CURRENT gold MRE resources to Reserves.
Plus, excellent exploration upsides of multiple greenfield targets..