RE:RE:RE:New name for Orex exploration soon.
Cutoff grade is based on several factors...if one looks back at the last technical report (April 2013), one can see that a 2.0 g/t cutoff grade was used.
Cut and paste from the 2013 report... "The 2.0 g/t gold resource statement cutoff value highlighted reflects a reasonable expectation of economic development by underground mining methods based on a three year trailing average gold price of US $1492"
The report also included other cutoff values starting at 1.5g/t all the way up to 3.5 g/t.
One last quote from the technical report done by Mercator Geological Services: "The Mercator mineral resource estimate is tabulated and defined at a gold cutoff grade of 2.0 g/t. This cutoff provides definition of mineral resources considered to have a reasonable expectation of economic development using underground mining methods"
So we need to wait for the next technical report to see what cutoff is selected based on their independent studies and updated factors.
One key thing that I am looking to understand is the infill drilling that they are planning. They need to hit key targets that have a high probability of adding ounces and proving continuity of the resource and thus increasing the expectation of economic development.