RE:RE:Providence Gold Mines
If you add up all the assay results from the trenching assays, and exclude the outlier (253 g/t) then the average of 64 samples comes to 3.6 g/t. Assume 80% recovery (conservative) you get 2.88 g/t. We know the area is 8200 SQM, assuming the trenches were only 1 meter deep we come up with 8200 cubic meters. Using a specific gravity of 2.7 tons per cubic meter we end up with 22,000 tons. At 2.8 g/t that's about 2000 ounces of gold. Doesn't sound like much, but if they can process this they end up with ~ $3.2 million before expenses. I'm unable to see how that much money is not useful for a junior miner.