RE:RE:Orvana Confirms New Mineralized Structure in El Vallexyz_trader1 wrote: Area E2 has a mineral resource estimate of 140,000 tones, with 3.84 g/t Au and 0.34 %Cu, of inferred material. The resource is estimated using a gold equivalent cut off grade of 2.52 g/t, gold price of US$ 1,700 per ounce, copper price of US$ 3.25 per pound and a silver price of US$ 20 per ounce. It is noted that mineral resources that are not mineral reserves do not have demonstrated economic viability. This resource estimate is the initial estimate for Area E2, which will be the start of a larger volume definition, subject to be verified with additional drilling.
Further 2,000 DDH meters are planned for Area E2 during the next 12 months, targeting the North and South sectors, looking for a robust increase in the resource. DDH's targeting resource increase at depth, are scheduled after the northbound and southbound efforts, principally due to waiting for the development of galleries to drill from.
im not good with these calculations of resource. Need gandolph.
but i believe this new area structure it is around 18 thousand ounces of GOLD!
not sure of the copper amount.
xyz
My number is 581,975 metric tons grading 5.56 g/t gold, 6.0 g/t silver, and 0.37 percent Copper, so that is 193,995 ounces of gold, 112,282 ounces of silver, and 4.7 million pounds of copper.
My model is based on a conservative assumption of 50 meters of vertical continuity on the north south cross section depicted in Figure 3 of Orvana's news release. The wider cross section depicted in Figure 2 is about 130 meters wide, but I modeled it as 4 ore veins continuous over a 75 meter width. The north south cross section in Figure 3 is 500 meters in length but I modeled it as continuous over 460 meters to avoid double counting ore modeled in the east west cross section in Figure 2.
In terms of average copper ore grade, my estimate of 0.37 percent copper is pretty close to Orvana's number of 00.34 percent copper. But my gold grade is higher because my estimate is an uncapped gold ore grade where I have eliminated ore veins which are below the 2.52 g/t curoff grade. So I assume that any sub economic ore veins will not get mined and are thus excluded from my resource estimate.
Obviously, Orvana is using highly conservative assumptions in order to only estimate the E2 zone at only140,000 metric tons.
ganndolph