RE:RE:RE:RE:Goldstorm resource estimate: +/- 8.6 million oz for 300HYour estimates are interesting. I haven't done any detailed look at the non-300 horizon, so for those zones, I'm completely guessing based on the "eyeball" test. However, I do believe that these other two zones combined currently have less resources defined than the 300 zone. In other words, I think they are currently less than the approximately 8 million oz Au we are estimating. At best, maybe equal in size; therefore up to an additional 8 million.
As far as MI&I, another guess. For the total Goldstorm perhaps the something like 6 million Measured & Indicated, plus another 8 million Inferred? Again, this is just a guess, no number crunching involved beyond what my 300H envelope says.
I know, my total number seems low compared to your figure. I think the 28 million you indicate is possible, but more of a conceptual target at this point that required more infill. I do hope I'm too cautious, and your number is more accurate. It would be a very welcome surprise, lol! =\[]]]]]]]]]
stockzorg wrote: rockport1 wrote: Hi Doug,
Yes, it is good that are results are pretty close for the 300H zone. Gives me some confidence that I am in the right ball park.
However, I'm confused about your total Goldstorm estimate of 28.5 million oz AuEq. Without having done the calculations myself, I thought the other two zones shouls be far smaller at this point. Your total implies about 20 million for the pair.
Also, you state the entire Goldstorm is about 472 million tonnes at 0.67 g/t. Should this not be about 10 million oz AuEq?
Thanks if you can clarify for me.
rockport1 - thanks for correcting. I shouldn't post when I'm whacked out on pain meds after dental appointments! I picked up the wrong column on my spreadsheet.
For the 300 Horizon it's ~294.7 million tons at ~.859g/t for the 8.143 million oz. AuEq.
For the full Goldstorm deposit, it's ~1.327 million tons at ~.669g/t for 28.570 million.
You're also correct that my total Goldstorm shows much larger estimates than the 300 Horizon. That's because for all of Goldstorm I am using total deposit area of 950m x 850m, but only a very conservative 800m x 450m for the 300H. (The press releases show 1100m length for 300H, I was much more cautious).
Also, a bit more info on my comparisons between Goldstorm and Iron Cap. IC shows 33 million ounces of gold in all categories with 5.576 million oz Au in the M&I category at about .49g/t. Goldstorm grade and thickness results exceed IC for the M&I category, so I expect for sure that the M&I category for Goldstorm will be above the IC 5.576 number.
For all of the IC resources, the gold numbers are more comparable, since IC drilling showed really good results at the greatest depths. So my upper bound for Goldstorm is about the same 33 million oz. that were reported for Iron Cap. Keep in mind that IC has much more copper, silver and Moly than Goldstorm so the IC AuEq numbers are way higher than 33 million oz. But comparing Au data only, the Goldstorm and IC results could be pretty much the same. I hedge somewhat because the process and rules for calculating reserves have changed quite a bit in the past decade. Also, my expectation is that the folks doing the estimates will make sure they are not too high to avoid criticism. So overall, I'm comfortable with 28 million oz. AuEq for Goldstorm right now.
Finally, for areas where there are more than 200m between holes, the estimates should move into the Inferred category. But everything less than 200m should show in the Measured (100m spacing) or Indicated (200m spacing) buckets. When I eyeball the Goldstorm drilling pics, I see a great deal of drill holes less than 200m apart. That also argues for a high M&I preliminary estimate. The press release of Mar 3, 2020 shows the P&E Mining Consultants conclusions on spacing, but I'd love to hear your input on that as well. Thanks!