RE:RE:RE:RE:RE:RE:RE:RE:Disappointed InvestorsPikangikumKid96,
The 120 Zone resource that is shown on slide 21 of Americas Silver presentation is 2024000 tonnes at 191 g/t silver which works out to 12.4 million ounces of silver in the ground. That was the estimate from last June.
I did the 3D modeling on the published 120 Zone drilling results, using a SW azimuth and 23 degree inclination. I also excluded all of the drill holes at the NW end of the 120 zone since those drill results showed mostly near surface mineralization. I assumed a specific gravity of 3.0 which is the same as used by the authors of the previous 43-101 reports.
My modeling result was 3,580,000 tonnes grading 148 g/t or 17 million ounces of silver at an 80 g/t silver cutoff. The copper modeling result was 30 million pounds grading an average of 0.40 percent. In terms of silver equivalent ounces, my estimate is 30 million ounces silver equivalent.
So IMHO, the 120 Zone multiplies San Rafael by TWO, and I don't think that that market knows that yet.