RE:RE:Resource Estimatetiger2201 wrote: Hi allyboys,
The best way to understand the current resource estimate is to read NLC's PFS, it posted on their web site.
The follwing comments are based on my memory, and maynot be accurate.
The current High Grade measured resource is the 3Q lake brine, based on the survey, around the rim of the brine lake.
The current High Grade indicated resource is up to 100 meters, since the deepest hole was 100 meters.
So the new resource upgrade will come from R-24, R25, & R26, vertically and lateratically, beyond 100 meter deep, and 250 meters to the east from 3Q lake.
If you read my past post, I did try to calculate the resouce sizes.
Hope that answer your questions.
tiger
allyboys wrote: Hole PPI-R-25 went to 268 meters. Hole 26 went down around 360 meters. I would like to better understand what may be included in the new resource in a few weeks? Will the resource include the 268 meter 25 hole and hole 26 to 360 meters as measured or indicated? Further, will FL then include hole 24 as indicated from 100 meters to 268 meters? What is allowed as to an estimate?
Yes, this is a big question and we all waiting for the final figures.
Tiger and I went to similar conclusion, though Tiger was way more detailed in his estimation. 10M resource would be an optimistic, but reasonable "target."
It is all guestimation, though. We know the new depth and we know that it is only North part is affected, the one with very high grades.
However, it is difficult to give certain answer, because lenght and width of the new resource inclusioin is not clear.
Geology question is to RuudinFrance from now on, but I speculate the bigger area will be included, the lower quality of estimation would have to be used. I.e. if area around wholes included only, NLC can clam smaller, but M & I grade resource. If wide one will be used, the "Inferred" term will be more appropriate.
I speculated 10M, but new resource is Inferred.