RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Narrow widthsThe Technical Report that LME published is 101 pages long. It is important to consider the report in it's entirety to ensure nothing is taken out of context and misinterpreted.
The Ishkoday property has several zones that make up the Mineralized Corridor, which is currently about 6km x 2.5km. The table below is from the Report, and lists the various zones.
What is encouraging about that table, is that it shows that there is decent mineralization EVERYWHERE in the mineralized corridor. Yes, the M21, CRK, A-Zone 005 and 002 zones have lower grade mineralization, but they represent a few zone out of the many zones that make up the total mineralized corridor.
In planning the economics of a new mine, the engineers would consider various cut off grades for all the zones. This would would impact the volume of material that would be mined (tonnage), as well as the average grade (grams of gold per ton) and ultimately how many oz of gold can be expected to be mined.
Below is a snippet from the Greenstone Mine (previously owned by Premier Gold Mines and called the Hardrock Project). You can see they anayzed various cut off grades. They chose a cut off grade of 0.3 g/t which gave them an average of 1.3 g/t of gold across their 17 gold bearing zone that made up the mineralized corridor. Another important thing to note, all of the modeling for this mine was based on a gold price of $1,250 USD / oz. Today we are double that price. And the higher the price of gold, the more economical it is to process lower grade material and have a lower cut-off grade.
I hope this additional context helps everyone make more informed decisions. The LME technical report is over 100 pages long, it's fairly dense, and it's easy to fixate on certain numbers over others.
PtPdAu wrote: LME's consultant's report stated the property had a conceptual grade as low as "0.11 g/t Au" . Obviously the consultant had full access to LME's Data Room. That is not a minable ore grade and definitely unprofitable.