A 4-beer resource estimate on LP FaultAfter what I can recall is drinking about 4 beers, I took all the data that I could find on the LP fault and did a back of the envelope resource estimate calculation. Now, by profession I'm not a geo-type anything so don't come after me if I turn out wrong with this down the road sometime. But I do know math and so using the law of averages, i took a stab at this beast.
My assumptions were that mineralization along the 3.0km of strike that have been drill confirmed on the LP fault, extends to surface, and is overlayed by 15m of gravel (0 gAu/t).
I've assumed USD45.81/oz in-situ value for gold (value that Canaccord prescribes) and a 50M share count (diluted basis). It also interpolates the grade and dept of the voids of mineralization between Bear Rimini and Yuma, as well as Auro and Viggo. Did I mention I just drank 4 beers?
Anyway, as at Oct 30, 2019 (last time drill results were released), the average dept of the 3.0km of mineralization was 135m, with an average 54 gram-ton of gold across it. My numbers suggest a current CDN$3.32/share just for the LP fault. I then re-ran my numbers assuming the average dept increased up to 600m, which gave a $13.54/diluted share value.
So ya that's what i got, take it for what it's worth. I'll update it once more drill results come out.
GLTA