goldhunter11 wrote: Iskyhigh,
Thanks for the diagram.
It may not be the "real bonanza" for what Novo is chasing, but at least it something that you can see on the surface. Sometimes, you would need to scape the surface quite a bit to see more conglomerates. As would call PR and CW the low hanging fruits.
Your map is good to show the larger view of the area, not the entire area (way out to hundreds of km away), but close enough to be able to make some kind of projection from exploration drilling (to determine the continuation of the conglomemate downdip in the SE direction in Novo land).
The circle you drew has a radius of about 4km (with 50 sqkm) as indicated on the legend box. So, my interpretation is that, when you said " ...I am interested in the 50k circle" you meant the circle that has 50 sqkm area (or, 50M m2)
In a previous post, I mentoined Kaiser's estimate for PR with his triangulay portion (sitting in top portion of your circle). Kaiser used an area of about 7M m2, for his triangle. Depth: 4m; grade: 10gpt to arrive at about 24 Moz Au. If the Depth is reduced to 1m (4m is too thick?) then the RE=6 Moz.
By simple math RE for the circle would be 50Mm2/7Mm2 = 7x that of PR triangle.....= 42Moz, which falls within your 20-50 Moz
While we are at this, why not draw another circle just SE of CW to bring in another 42MozAu?
Note: PR is about 9x of your purple square. The triangle used by Kaiser is area at the bottom part of PR formed by drawing a 34 degree line from the top left corner of that purple square. I have a drawing (hand drawn) on my desk, but I don't know how to publish it, lol.
GH
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Iskyhigh wrote: TXRogers wrote: Hickery wrote:
Thanks Tx, What ever happens, it's an interesting 3-4 months ahead of us all, and again, thanks for all your posts.
It sure will be interesting.
And I still believe to this day that NVO wanted that Patch47, and that ARV (DL) outmaneuvered them on it. That's what I suspect and I mentioned this sometime back in a discussion with Iskyhigh.
As part of the Looking forward statements ARV mention the following: The Gekko and Process 26 construction teams have been mobilized and installation of all Stage 1 gold circuit infrastructure will commence immediately. Refurbishment of the crushing, materials handling and grinding circuits will be completed, contractors demobilised and commissioning of the gold circuit scheduled for November 2018.
In parallel to this programme Artemis is advancing:
- long term power supply options with Horizon Power;
- commercial laboratory options to support Radio Hill operations and regional exploration;
- TSF3 and TSF4 approval submissions;
- DMIRS approvals required to commence bulk sampling at several of its gold targets including Nickol River and 47 Patch for campaign processing and grade reconciliation of conglomerate and high grade vein deposits;
- resource updates on the Weeriana Au and Carlow Castle Au-Cu-Co Projects,
- conversion of Carlow Castle to a mining lease, and
- process design parameters and approvals for Stage 2 base metal operations.
Not really a conventional mining plan, but it seems to be a sort of mining/exploration hybrid strategy. At least for the near future.
The key for the shareholders will be for ARV to avoid further dilution under all the costs these activities and the 50% JV exploration obligation for Purdy's. And hopefully get some income out of RH in the new year. I am not a holder of ARV based on my investment strategy. But that does not mean that ARV won't build value on it's own and pull something off.
Tx
I was never all that interested in the burning need for Novo to acquire those tenements. I didn't see evidence for continuity that way. But likely you are correct, as the exploration is slow & will continue to be.
And that land can be fast tracked. Basically the same reasons for paying extra for the JV to begin with. Imagine where we would be if we didn't have access to CW/Purdy's.
Mostly I am interested in the 50k circle shown here. Much of it is 100% Novo land. Big question is how big of a sliver will be open pittable, and when & where they'll chase it underground.
Could easily have 20 - 50 million ounces. Time & hard work will tell.