EXPM:GTARF - Post by User
Post by
AlternativeViewon Aug 09, 2016 4:35pm
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Post# 25124005
Here Are A Few Numbers For You
Here Are A Few Numbers For You900 meters of drilling in 50 - 60 meter holes yields a grid pattern of about 16 holes.
16 holes in a square pattern on 15 meter hole-centers covers an area of 45 meters on each edge. And depending on the inclination of the holes, about the same distance for depth.
So we are taling about an approximate cube of 45 X 45 X 45 = 91,125 cubic meters.
At an assumed rock density of 3 tonnes / cubic meter this amounts to 273,000 tones.
You can pick a number for average grade. I pick 5 g/t.
So the resource drilled so far ( the very best part) is about 5/31.5 * 272,000 = 43,880 OZ of gold worth about $57M USD insitu.
The overall economics of this project is still a bit up in the air, but I have no doubt that the first round of drilling is going to be spectacular. That is why they stopped before they drilled any marginal exploration holes.