TONNAGE FOR EVG...I need some help from people whom have more expertise on this matter.
Once the 14 holes at RSH are in we should see the company mandating another 43-101.
EVG has hit numerous large intercepts of gold, some 3 to 4 football fields deep. The average grade is about 1.4 gpt.
It takes 28 gpt to make 1 ounce of gold.
In terms of tonnage, it will take EVG to excavate 20 tons to generate 1 ounce of gold that sells for $ 1,400.
The question is how many ounces of gold does RSH have with the present drilling, infill included?
To respond to this question, one would have to map the area in terms of distance and depth.
I would then ask those whom are more specialized in this area, how much tonnage is there in that area? What is the area (distance * depth)?
Is it reasonable to conclude that since intercepts are long that we are speaking of 100 million tons? I know some properties have over 200 million tons.
If yes, then it would equate into 5 million ounces of gold (100 million tons divide by 20 grams at 1.4 gpt)?
Can anyone calculate what tonnage looks like?
If we arrive at 5 million ounces, the next question is: what is a company worth with 5 million ounces in the ground?
JMHO