MRE for Keats TrenchThe 2024 TR shows that Keats drilling was based on transects that were 100 m apart, with each drill hole of the transect 30 meters apart .
Depending on the location of the first transect across KT, 10 to 15 drill holes would have been drilled there to vertical depths of at least 140 m.
On average therefore the drill holes would have an average spacing of just over 50 meters ( square root of 3000 m ) which coincides with 43-101 category of Indicated.
The channel sampling soon to report would be an order of magnitude greater in grade sampling density per square meter.
And they have the drill data at depth, the Seismics at depth and their algorithmic based spatial kriging geological model.
Integrated together by depth and spatial area, , NFG will have sufficient depth and area specific grade sampling data to provide a 43-101 Reserve Estimates of Keats Trench.
Verification. Of this algorithmically estimated Reserve Category ounces of gold would require trial mining or large bulk samples.
My coarse estimate is that KT contains about 450,000 ounces of high grade gold, with a nominal gross value of $1.5 billion in CAD at current POG.
Divide by 2 to be conservative , and that's still about $750 million worth of high grade gold.
Thats a lot of asset value... almost equivalent to our current market cap ..to leave unmonetized in the ground when facilities for it's extraction and conversion to gold ounces are already available .
And just next door, the same 43-101 process is being done for Iceberg....and two more after that
It is now clear why NFG has a tolling arrangement with Maritime..
AIMHO