RE:Tonnage 850 x 600 x 750 meters =380 millionGalaxym31 wrote: cubic meters x 2.5 tons per cubic meter = 1.15 billion tons .Does this seem correct ?
In my analysis I've been using the area that was most heavily drilled through 2019 - about 700m x 500m. For depth, I took an average of how many meters of mineralization they found in each hole - that came out to 423.7m (a huge number for an average of 32 holes).
For specific gravity I've been using 2.81 (I'm open to input on that).
Through 2019 I get about 416 million tons for the mineralized areas only, and only for the limited 700m x 500m area that I have the data for. At an average grade of .656g/t I get about 8.8 million oz of Au so far. Obvously all of these numbers will increase by quite a bit this year with more than 22,500 more drilling meters of data.
As a double check I baselined Iron Cap's initial 5.1 million ounces of Measured and Indicated reserves after 48 holes were drilled. When I use this method I get 10.3 million oz. Au for Goldstorm so far.
HOWEVER: The big story is the GS300 shallow gold. For the most recent 14 holes drilled through 2019 I get 148 million tons at .8g/t on average mineralized area of 293m per hole and only 300m x 600m in my data so far. That's 3.8+ million oz Au. in only 14 drilled holes. The average grade x width at Goldstorm is more than 2.5x my Iron Cap baseline holes. The shallow gold could be extracted using an open pit model with limited capex. When I compare this data to my Iron Cap baseline I get 4.5 million oz Au in GS300 so I know my results are conservative.
I can see the GS300 gold going to a resource estimate based on 750 x 600 x 293 at .8g/t for a shallow resource in the 9.5 - 10 million oz Au range. This would equate to a 500,000oz. per year open pit mine over a 16 year mine life - Tier 1, while still being low capital intensive.
The Goldstorm GS300 will be like a piece of candy hanging out there for many midsize to large mining companies to exploit. I expect a great deal of interest.
Goldstorm does not need a 30 million oz. Au reserve in order to be a monster. GS300 is already a monster.