Definition Drilling Should Increase Reserves , GradeExploration drilling has much less success rate than definition driling which is within the defined open pit limits.
So, the 4% success rate of drilling 1 gram grades and higher typical of current QWN exploration drilling will be signifucantky higher for definition drilling.
Shooting dead fish in a barrel would be an extreme example but the connotation is correct.
Same with grades as fewer blank meters.
An example is Valentine Lake.
Its 2021 FS estimated 2.05 m ounces of Reserves at 1.36 gms per ton .
Substantial interim definition drilling in 2022 increased Reserves to 2.7 m ounces at a grade of 1.62 gms per ton.
So my estimates for QWN both population ounces and Reserves ounces are conservative .
Shallow QWN Reserves of 14 million ounces @$650 per ounce paid for OSK Windfall deposit holding 3.2 m ounces at 8 grams per ton would value out at close to $10 billion .
Divide by 2 to be extremely conservative and still valued close to $5 billion or $19 per share...and just a modest proportion of QWN yet drilled,,