GREY:LCPRF - Post by User
Comment by
elmothefearlesson Sep 09, 2011 12:10am
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Post# 19025181
RE: RE: RE: More drilling
RE: RE: RE: More drillingLooks good, but I have a couple questions:
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- I was told a meter cubed is approx 2 to 3 tonnes, I usually use 2.5 tonnes / m3, so I would go: 1,000 x 1,000 x 75 x 2.5 = 188 million tonnes of material
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- There is 31.5 g / troy oz, so 188 tonnes x .3 g /t = 56,000,000 grams / 31.5 = 1.8 million oz's gold
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- Good conservative assumption of $700 margin, however since we have to move this rock anyway, the margin would probably be far lower
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Either way we can agree that this oxide cap will greatly improve the project.