100T per day 9 oz/t gold, around 900 oz 900K daily revenueAT SAME COST PER TON!!!!!
• Today’s assays showed, however/fortunately, gold grades of up to 320 g/t (9.3 oz/t). Both historic drill holes are located 30 m to the left and right of the current adit, thus the entire area from the adit to both holes may be enriched with gold in a similar fasion. CMC already started mining out areas with horizontal stopes stockpiling such material near the mine.
An average gold mineralization of 1 oz/t means that only 1,000 t of rocks must be moved and processed to win around 1,000 oz gold. Only 111 t of rocks go same routh with a mineralization of 9 oz/t. Either way, both extremely high grades represent significant benefits in contrast to the common low-grade gold deposits (1-3 g/t gold) worldwide, where million tonnes of rocks must be moved and processed to extract the gold. The higher grade a deposit, fewer tonnage must be processed resulting in significantly lower operating expenditures.
As mentioned in the initiating coverage (February 26, 2015), CMC owns 100% of the Bishop Mill, which is 2 h by truck from Radcliff) and set to have a capacity of up to 100 t per day.
• With an average mineralization of 1 oz/t, Bishop Mill can process material worth 100 oz gold.
• With a gold price at 1,000 USD/oz, sales revenues of 100,000 USD per day are possible.
• With an average mineralization of 9 oz/t gold, around 900 oz/day can be produced generating 900,000 USD in daily revenue. (Overall grades of Gold Pod #1 may vary between 0.5-9 oz/t).