RE:RE:RE:RE:NI-43-101 and Jorc Resource Estimate for Comet WellTXRogers wrote: goldencraton wrote: TXRogers wrote: goldencraton wrote: Hi Tx,
Just a couple of questions about the mineralization report for Comet Well you may be able to help shed some light on. QH has stated that he intends to file a NI-43-101 and Jorc resource estimate for the area.
Do you have any idea how much of the Comet Well area the mineralization report will cover (km2)?
Do you know if the data for the report would be adequate to use to satisfy a NI-43-101 and/or Jorc resource estimate?
The reason I ask is because if there is 700K oz of gold per km2 and we can show average grade (2.5 gpt) and continuity through core drilling over a large area (how much area has been drilled to date?) and that would satisfy a mineralization report, would it also satisfy NI-43-101 and/or Jorc?
If we can show 5 or 10 km2 of mineralization at Comet Well in a mineralization report ,that would equate to a resource estimate of 3.5 to 7 million ounces of gold. Could we be just days or weeks away from achieving this milestone?
Thanks in advance for your opinion should you decide to accept this mission ( - :
Cheers,
gc
On my last inquiry to NVO, the M-Licence application included both CW and PR. Which infers that Novo's report will likely contain that Upper Cannonball conglomerate layer shared by both tenements.
Regarding the Lower Cannonball layer, that appears restricted to the CW tenement.
So I am hoping the report is in the range beyond 10 sq-km in area. Since the M-Licence is targetting both CW/PR.
If so, we may find ourselves at that multi-million ounce size deposit quite easily. At this point, I really do know the exact economic details of it all, but HH sure did take an in-depth and very interesting crack at it.
Tx
Hi TX,
My understanding was that it would require both UCC and LCC to give us the 700k oz gold per km2.
Purdy’s is just UCC so would the km2 gold inventory not be less than 700k oz ? This is why I was focused on the Comet Well area …and hopefully beyond to the SE and onto 100% Novo ground.
It sounds like almost the entire Comet Well claim is mineralized… Novo’s exploration program at Comet Well and adjacent Purdy’s Reward is focused on gathering sufficient geological information to generate a mineralization report for the Western Australian Department of Mines, Industry Regulation and Safety, one of several items needed to convert an exploration license to a mining lease. Novo thinks that the best way to advance the Karratha gold project is to ultimately move it toward large-scale bulk sampling for which a mining lease will be required. Recent recognition of this upper gold-bearing conglomerate is important for the following reasons: - Its continuity can be established with help from the associated tuff marker bed. Recent detailed mapping and diamond drilling has found this bed to be continuous over most of the Comet Well area, and Novo will be developing a 3D model of it with high confidence, a critical element for any future mineralization report.
From NR 28 June 2018 https://www.novoresources.com/news-media/news/display/index.php?content_id=308 The questions I’m pondering is how many km2 of Comet Well that contain an inventory of 700k oz of gold will be included in the mineralization report, and can this data be used for a NI-43-101 and a JORC resource estimate?
I'm thinking quit a few, and that hopefully it can.
gc
Well GC. As you can see just in the CW and PR reality: With one tenement having two distinct conglomerate reefs, and the adjacent tenement having a single thinner upper reef, we can see that the 700,000 ounce/sq-km average can have extremely varying deviations. Based on all the gold hits and length of strike, I can envision the previously estimated 8-10 million ounce endowment. But how exactly its distributed along strike and down dip, I couldn't guess. And it could easily be opened ended and of much greater scale. The good news is that if it is that wide spread, the M-License spans over the full two tenements. Tx
We need the 3d model of the drilling, and some indication of distribution of gold as to the local geography.
It would be nice to learn more about Arv's, and about Degrey's exploration results. They are crowing that they will show the Canadians. Prime time for them.