NextPhase wrote: goldhunter11 wrote: NP,
- Question: Your plot for 2009 seems to contain only lower grades (max 1.5-2 gpt). This chart is not finished presmably.
GH,
I only focused on Zone 4 and the OAX drill numbers for this study. Saying this, I realize now I should have included one more hole number, AAX-07-12. This is the only AAX drill location within the Zone 4 area. It's results were released on May 29, 2007 with the following details.
Date | Hole | Order | From | To | Length | Width | Au g/t | Grade Times Length |
3/29/2007 | AAX-07-12 | 1 | 100 | 103.5 | 3.5 | | 2.09 | 7.315 |
3/29/2007 | AAX-07-12 | 2 | 208.9 | 212.1 | 3.2 | | 1.91 | 6.112 |
3/29/2007 | AAX-07-12 | 3 | 255.75 | 268.3 | 12.55 | | 7.48 | 93.874 |
3/29/2007 | AAX-07-12 | 4 | 275.6 | 280.85 | 5.25 | | 3.13 | 16.4325 |
This is by far the best results for that program in Zone 4. Despite this inclusion, my information indicates Alexandria had drill only 22 holes in Zone 4 between 2007 and 2008. Only 12 of these samples, or 54%, had one or more intercepts of gold. Adding intercept lengths together for Zone 4, it appears only 189.7m of combined intercept length was captured from what looks like around 8,000m drilled.
In my opinion, this small number of samples with even a fewer number of intercepts meant that Zone 4 did not contribute nearly as much to the original resource estimate when compared to the work conducted in Zone 2. Only the three drill results (see the table below) had a length times grade above 25 Zone 4. From the original resource estimate, the average results meant for every 1,000 meters drilled at Zone 4 only 6.8m had an intercept length by gold grade above 25. This is a far worse ratio when compared to a similar analysis on the results from 2016 and 2017.
Date | Hole | From | To | Length | Au g/t | Grade Times Length |
3/29/2007 | AAX-07-12 | 255.75 | 268.3 | 12.55 | 7.48 | 93.874 | 0.494855 |
8/15/2007 | OAX-07-13A | 485.5 | 506.65 | 21.15 | 1.98 | 41.877 | 0.220754 |
9/5/2007 | OAX-07-06 | 401.45 | 421.9 | 20.45 | 1.89 | 38.6505 | 0.203745 |
In comparison, Alexandria appears to have drilled another 41 holes in 2007 and 2008 within the Zone 2 area, and 28 of these assays had intercepts reported, or 68%, with a combined intercept length of 874.34. This combined intercept length from Zone 2 is 4.6x larger compared to the 189.7 combined length reported from Zone Four. Although the overall grade was much lower at 0.98 g/t, it had seven intercepts (see the table below) with a combined length and grade above 25.
Date | Hole | From | To | Length | Width | Au g/t | Grade Times Length |
10/16/2007 | OAX-07-16 | 102.9 | 151.35 | 48.45 | 27.08 | 2.19 | 106.1 |
1/9/2008 | OAX-07-32 | 113.05 | 151.5 | 38.45 | 12.58 | 2.32 | 89.2 |
7/17/2008 | OAX-08-43 | | | 27.08 | | 2.19 | 59.3 |
3/29/2007 | AAX-07-11 | 134.4 | 160 | 25.6 | 18.32 | 2.89 | 52.9 |
10/31/2007 | OAX-07-19 | 388.85 | 410.2 | 21.35 | 13.72 | 1.59 | 33.9 |
9/20/2007 | OAX-07-08 | 26.8 | 80.8 | 54 | 41.37 | 0.62 | 33.5 |
7/30/2007 | OAX-07-03 | 19.5 | 59.9 | 40.4 | 32.32 | 0.76 | 30.7 |
Again from the original resource estimate, a much better ratio was achieved, where for every 1,000 meters drilled in Zone 2 19.6m had a 25 intercept length multiplied by its gold grade.
So, if the upcoming resource estimate not only improves the overall grade within Zone 4, but also significantly increases combined intercepts lengths, then I expect this will likely be a significant reason why the upcoming resource estimate will beat market expectations.
Following the inclusion of AAX-07-12, I have updated the graphic that I designed yesterday. Stay tuned for more updates.
As previously mentioned, I do not have all of the locations for the 2015-2017 drill programs, I'm especially missing data from any results that were released after May 2017. In addition, I have a good, but not perfect process in finding these locations, but I will slowly improve this information over time. If I make mistakes, then I will correct these in future posts. So far, I have only focused on Zone 4 locations, and I have yet to study or develop any specific insights from drilling in Zone 2.
NP
Disclosure: I own AZX