Thoughts and PotentialWhat were people expecting 30 meters? The original coal massive was 7.62 meters with breccia as a bonus. Sounds like they had drillers who weren't prepared for the tempature and inexperience in coring due to lower recoveries. If they can get in there for a phase 2 and increase the recovery to around 10 meters they would have a good strip ratio being at 50 meters. This would be open pitable, where was Goldsource has huge coal but the geology seems to be in pockets and far more complex geology. Here is a crude resource estimate, but gives you an idea of potential. Run some numbers for yourself. PS I am not a geologist and saw some else do this awhile back on GXS.
OGB
(.6k)*(.6k)*(3.14)*(13.8m)*(1.34) = 20,903,356.80 Million Tonnes
(.6k)*(.6k)*(3.14)*(5.53m)*(1.34) = 8,376,490.08 Million Tonnes
(.6k)*(.6k)*(3.14)*(7.90m)*(1.34) = 11,966,414.40 Million Tonnes
Total: 41,246,261.28 Million Tonnes Measured
As per Paper 88-21 from Geological Survey of Canada Goldsource's geology can be classified with a Low - Type B complexity (ref. pg 4, GSC 88-21)
Low-Type B resource estimates derived as follows ;
Measured resource from 0 - 600 meters around a data point
Indicated resource from 600 - 1200 meters
Inferred resource from 1200 - 3600 meters
Goldsource's average Ash at 15% (11/11/08 Goldsource) into GSC Paper 88-21's Table 1 on page 7 into GSC's Paper 88-21 yields an estimated Specific Gravity of 1.34,FIRST HOLE: 13.8 meters (Historic Hole)
SECOND HOLE: 5.53 meters (1km South)
THIRD HOLE: 7.90 Meters (.7 km West )
(radius) x (radius) x (Pi) x (Thickness) x (Specific gravity)= Resource
measured=
indicated=
inferred
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