RE:Purdy's Reward will grade 1.35 oz per tonne Minimum!!freedom,
Your math exercise provides a very nice starting point for a back of the napkin resource estimate for Purdy's Reward (and Comet Well).
I would start with the following assumptions
- shallow dip fro Purdy's to Comet (slide 12 and 17 of 25 Sept 2017 Denver Forum Presentation, note the vertical exaggerations on both slides). From 2-4 degrees dip from eyballing the two figures (actually with the aid of a ruler and protractor).
- Purdy's (5-50 JV with Artemis, ARV): 1.5km strike length; Comet (100% NOV): 8-1.5 = 6.5 km strike lenght
- Width: 100m
- Depth of Au bearing conglomerate layer
Your estimate for the trench area in the video of 30 x 10 x 0.1 (depth) is fine. One comment: Your sg for the conglometrate is on the conservative side. I would use ~2.8 for compacted sand or pebble instead of 2.0 (factor of 2.8/2.0 = 1.4. So the total tonnes for that "sample" of the 0.1 m layer would be 60 tonnes x 1.4 = 84 tonnes (two truck loads...40 tonne-truck, or 1 supersize truck). Total gold content: 2 oz/tonne (using your number which is consistent with the average value of 60gpt (60/31 = 2ozpt) from their first bulk sample.
- Gold content in a 0.1 m layer of 30 x 10 m area in the video: 168 oz Au (Price of Au= $1700/oz, assuming digging and processing cost = $700/oz, leaving a profit of $1000/oz, or a toal of $168k for scraping a site of 30m x 10 m (~1/3 of a good size house lot in a Canadian city).
- Scale it up for Purdy's Reward (1500m x 100m (width) x 10 deep): Tonnage: 1.5Mm3 x 2.8 = 4.2 M tonnes x 2oz/t = 8.4Moz. Let's split 50-50 with ARV. So, NOV would end up with 4.2Moz for Purdy's.
- Scale it up for Comet Well: 8.4 x (6.5km/1.5km) = 8.4 x 4.3 = 36Moz. Since the conglomerate layers at Comet Well would be deeper to get at, let assume a round number of 30 Moz.
If I were QH I would start drilling of Comet Well in parallel with Purdy's Reward, and fast track this 100% parcel. Or just buy up ARV, so that he does not have to share the 50%. Gordon Gekko would say "Greed is good", lol.
Only my speculation folks.
GH