RE:RE:RE:RE:RE:RE:Goldstorm resource estimate: +/- 8.6 million oz for 300HPerhaps, we are talking apples and oranges here. I'm trying to estimate what has been specifically outlined to date that will be included in the maiden resource. Any areas without sufficient drilling to establish the maiden resource, I'm not including in my estimate.
Taking another look at some of my assumptions, my previous estimate might be a little high. Or, maybe they will be included in the inferred portion.
Regarding widths. I have broken down by each section. At the low end is section 108+00 at 400m; the high end is 109+00 at 850 m. This seems a little wonky because the zones are next to each other, but the 108+00 drilling has gaps; therefore I only included the 400m. I would expect further drilling will infill these gaps, but for this estimate I have not included them. It is very possible that the initial estimate will include a wider width for the 108+00 section in a lower category, but my estimate is on the conservative side.
The average width I have is 628m and the average depth is 233 m for the 300H.
With further infill and boundary drilling, as with you, i suspect GS will challenge IC in size; just not with this maiden resource. As I said before, I hope to be proven too conservative with my estimate; it will be welcome. My preferred speculative method is to be surprised to the upside, versus disappointed to the downside.
stockzorg wrote: rockport1 wrote: Your 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 think there are a couple ways to approach the difference. One is that IronCap is showing 33 million ounces Au in all categories. When I match IC against Goldstorm, it's Goldstorm that has the higher grades (by quite a bit) and greater thickness as well. IC is .49g/t, Goldstorm is .67g/t. IC is no larger than Goldstorm in terms of the deposit footprint.
Another difference is the huge average grade x thickness that I show in the full Goldstorm results vs. just the 300H. For 300H I show 291m average thickness. For all of Goldstorm I show 585m average mineralized thickness per hole and for a larger footprint.
Finally, at 1.33B tons of total gold-bearing ore, I'm not far from past KK statements that Goldstorm is a billion-ton deposit.
If I'm off at all, it's in my eyeball calculation of the total Goldstorm footprint. I know the press releases have been saying 1100 meters in length and I'm using only 950, but I haven't seen a total deposit width - I'm using 850 meters wide. That's 807,500 square meters. If it turns out to be 1,100 x 600, say, that would be 660,000 square meters and my number would go down by 18.3% to 23.35 million for Goldstorm total, but it would remain at 8.1 million oz for 300H. I'm open to input on the deposit width since I don't see any clear statements from Tudor on that. But I still see Goldstorm as comparable to IC, so I'll be surprised if it comes in lower, and I'd be looking at what might cause a difference between the two - principally different methods I think.