TSXV:EPO.H - Post by User
Post by
srpaton Sep 25, 2011 9:30am
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Post# 19081476
Drill Map - Huge Updated Resource to Come
Drill Map - Huge Updated Resource to ComeHas anybody else taken a close look at the new drill map? With the additional two holes, they cover nearly all of the TLE in Indicated and Inferred, plus the entire Home Reserve. I was curious to see what the updated 43-101 might look like, so I printed off the map, blew it up, plotted out the circles for Indicated and Inferred on each new hole and then printed it all out on grid paper. It took a while but here's what I came up with. Keep in mind that this is assuming that the grades and thicknesses of the two new holes are the same as the average of the previous 5 holes. It is about as scientific as I could make it without waiting for the actual results.With the two new holes and the addition of the TLE lands from the previous 5 holes, our indicated resource should go up close to 80%. Our inferred resource by 165%. That will put EPO at roughly 155 Million Tonnes Indicated and 170 Million Tonnes Inferred, for a total of 325 Million Tonnes. This would be way over the 90% they have been getting us ready to expect. (This still does not count the Esterhazy layer, which may or may not add another large increase)I don't think it is the most likely scenerio, but with such a large increase, it is definitely a possibility to partner up with a large investor (maybe the Chinese?) and skip straight to the Feasability Study at the end of the year. Just what I found. I welcome anybody to make their own maps to check the math.srpat