Post by
nozzpack on Jul 02, 2024 12:31pm
Found an excellent ExtraPolation Example for NFG
Montage ( MAU ) Kone open pit .
102,000 meters of drilling defines an open pit containing 380 m tons of drill defined ore.
90% is Indicated on a 50 m by 50 m spacing and 10% Inferred on a 100 by 100 m spacing .
These spacings should be similar to NFG , an exploration company yet to proceed with high density definition drilling.
The tripartite proxy model comprised of average tons per meter drilled ...1600 tons per meter... would predict about 165 million tons of ore ( 102,000 meters X 1600 ) .
This is less than 50% of the actual value due to the much lower 25 m by 25 m spacing of the definition drilling conducted by the three FS used as proxy .
In fact , the actual number of tons per meter drilled for Kone is about 3700 tons per meter ( 380 m tons divided by 102,000 m ) .
This confirms the level of my injected bias contained in my estimate of over 7 million open pittable ounces in my post of Yesterday .
The Kone clone of similar drill spacing , suggests that the actual number of ounces for NFG shallow prospects could be closer to 15 million ounces