Napkin Math QWN ..Some derivative OutcomesVery simple logical outcomes cvcan be derived with independently calculated
grades.
From the The 2024 TR , it can be computed that the average grade with no cutoff and including all duster holes was .43 gram per ton.
Similarly, with a 1 gram cutoff , the average grade including all dusters was 11 grams per ton.
Further, from the same TR , it can be computed that the economic gold concentraion index ( proportion of economic gold as a per cent of total volumes drilled with a cutoff of 1 gram per ton ) was about 3.6 % .
That is, all of the mineable gold above 1 gram cutoff would be contained in just 3.6 % of the volumes drilled.
So, we have from Napkin Math 5.55 million ounces with no cutoff.
That amounts to 172 million grams which, divided by 0.43 grams per ton computes to a total volume drilled of 400 million tons ( 172 m/ 0.43 gm per ton ) .
Based on TR 2024, only 3.6 % of this volume would contain economic gold with 1 gram cutoff ..which is 14.5 million tons at a grade of 11 grams per ton computes to 5.1 million ounces.
Now, considering Napkin math estimates 4.3 million ounces at a cutoff of of 0.9 grams per ton which is close enough to a 1 gram cutoff , to accept.
We then have 4.3 m ounces times 31 grams per on =133 million grams which divided by the average grade of 11 grams per ton = 12.1 million tons
of economic gold ore averaging 11 grams per ton.
So, from 5.55 m ounces with no cutoff to 5.1 million ounces with a ( 0.9 gram = 1 gram cutoff ) estimated independently of napkin math after cutoffs, to 4.3 million ounces estimated by Napkin Math at a 1 gram cutoff , both estiomates based on 11 grams per ton average grade with 1 gram cutoff .
These are very close and would pretty well coincide had the search distance been extended to about 125 m .
In summary, QWN at depths shallower than 300 meters contains at least
12 million tons of gold containing 4.3 m ounces averaging 11 grams per ton at a 1 gram cutoff .
A lower more realistic cutoff of about 0.4 grams per ton wopuld increase the ounces by about 20 % with a somewhat commensurate reduction in average grade.
As early mining usually focuses on high grading , it would seem reasonable that bulk sampling of Keats Trench of the order of 50,000 tons would generate about 25,000 ounces of gold with a gross value $95 million CAD at very high net margins.
It would mean no more cheap equity raises by ATM..
AIMHO
GLTA