Re Examination of Bulk Sample ResultsThe bulk sample was taken from pit #1 in the central area of Peranghi, considered to be representative of the grade for Peranghi.
That pit was 150 m by 80 m by 20 m deep and was estimated to contain 20,000 to 30,000 ounces of gold , based on shallow drilling to 20 m.
The bulk sample was taken by free digging from benches that were just 2 m of vertical height.
So, lets re examine those results.
150 m by 80 m by 20 = 240 000 cu m.
SG = 2.1 tons per cu m.
Ore volume = 504,000 tons .
Grade by bulk sampling was 1.22 gms /ton which computes to 19,800 ounces ( 504,000 X 1.22 div by 31 gms per ton.).
Pretty close to the 20,000 t o 30,000 tons internally estimated in 2017 when this starter pit was first drilled.
We know from limited drilling that oxide grades go down to at least 50 m and from limited drilling, that grades tend to increase with fepth.
So, extrapolating to 50 m we have 19.800 ounces X 50/20 = 50,000 ounces.
We now have 4 pits being benched and drilled and benched for commercial mining.
That would suggest about 200,000 ounces of oxides at Peranghi so far by simple extrapolation.
Divide by 2 to be conservative, and we arrive at 100,000 ounces of commercial grade oxides down to 50 m at Peranghi.
These ounces should elevate Selinsing production to about 65,000 ounces/year including the Floatation concentrate which will be a record production leve for Selsing, at full ramp up.
This gives us great confidence as to our future production profile beginning a year from now.