Very Rough Proxy Based Scoping of FDP MRE I mentioned Snowline ( SGD..$5.77..$900 m market cap ) previously as an excellent analogue for FDP ( and Butia ).....long continous mineralization beginning at the surface .
Recently, SGD produced the initital MRE ( Mineral Resource Estimate ) for its outstanding gold discovery .
On just over 27,000 meters of drilling it produced its first MRE of 7.3 million ounces at an average grade of 1.45 grams per ton which is 269 ounces per meter of drilling.
I am not quite certain of the number of meters drilled at FDP but assume that all 20,000 of the current drill program has been for FDP.
If so, by proxy extrapolation, those 20.000 meters compute to 5.3 million ounces for FDP.
However, the average grade at FDP is about 1 gram per ton versus 1.45 gms for SGD.
Adjusting for grade differential, FDP still projects at 3.7 million ounces.
Very rough indeed, and if those 20,000 meters are confirmed, it does add conviction.
Divide by 2 to be conservative, and we still arrive at nearly 2 million ounces for FDP
Xxxx SGD
The initial MRE for the Valley deposit is prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards incorporated by reference in National Instrument 43-101.
The initial revenue factor 0.72 pit-shell-constrained MRE contains indicated mineral resources of 76 million tonnes at 1.66 grams per tonne gold for 4.05 million ounces gold in addition to inferred mineral resources of 81 mt at 1.25 g/t Au for 3.26 million ounces gold, using a 0.4 g/t Au cut-off grade.
The estimate is based on 27,911 metres of drill data from all 68 holes at Valley available as of May 15, 2024, ...