RE:RE:RE:News: Further Drill Results From GoldboroSome very juicy numbers in that latest PR.
Back of the envelope calculation on the dollar value of what exactly 6.06 g/t over 11.7 meters means from an underground mining perspective...one underground blast for 12 feet of advancement.
11.7m (wide) * 3 m (high) * 3.66 m (deep - 12 foot tunnel advancement) * 2.8 (specific gravity of a cubic meter of ore) = ~360 tonnes of ore
360 t of ore * 6.05g/t = 2178 g of gold or ~70 ounces of gold * 2436 $CDN = $170,520 Canadian dollars for one round/blast...that is very profitable even if mining underground...if in a pit even more profit (back up the BRINKs trucks....beep beep)!!!.
$170,520 per blast * 340 blasts in a year = $57,976,800 - daz not too shabby
To put that in perspective 70 ounces (only one blast per day) * 90 days (1 quarter) = 6300 ounces which is 1300 more ounces than current production levels! That is just one unit that we are talking about from Goldboro...there are several dozen of these units/belts at Goldboro....some not as thick..some narrower and far richer...but you get the point...Cha Ching
Pending resource estimate from Goldbro should be very robust...can we get to 2 million ounces with expanded pits and lower cut-offf grades...we shall soon find out.
The BEAST will not disappoint...just review the math ;)
Good luck with your investment CA$H.