Douglas Lake Minerals Inc DLKM

.2 g/cubic meter is economic cutoff

[MontyHigh]

for alluvial projects according to Harp Sangha during the ill-fated conference call surrounding the initial assay results.

My spreadsheet analysis of the early Feb results estimated an overall grade from the 141 samples of .19 g/cubic meter, so I'm pretty pleased with the grade.

I'm also pleased they were able to come up with some kind of inferred resource.

I think its pretty positive.

From a blue sky perspective, we are talking 200 (assuming the same gold across the entire property) * 20K oz = 4 million oz of gold. At $50 / oz, what I've seen Jrs sell for lately, that is $200 million dollars. Our market cap is around 70M *.4$=28M$. That's a 7-bagger, assuming there is gold all over the place at the same grade. Of course, if they can actually mine it with a reasonable cash cost (say $300/oz) then it could be a 70 bagger (not counting dilution).

Still a lot more speculative than my usual holdings, but I'm not planning on selling my shares any time soon.

MontyHigh

[Des1302]

Monty, you and I are on the same page.   As long as the results were higher than .2 g/cubic meter  I was happy.Its economical.. lets get mining..

[Yukon_Cornelius]

" ....the outlined resource (an area of less than approximately two square kilometres) with in an potential paleoplacer/beach placer envelope that is estimated to be 29 kilometres long (covering the whole length of the property) and up to 5 kilometres wide. " So looking at this another way- the targeted placer envelope is 145 sq. Km (29 x 5) - so roughy 1/3 of the entire 450 sq. Km

[sumeroil]

let's just do with the whole area this way: 430 sq km = 430 million sq meter.with the depth of 30 meter, the volume becomes 430 x 30 million cubic meter.with 0.3g/cubic meter, total gold is 0.3 x 430 x 30 million gram.1 troy ounce  is about 31 grams.so, it is about 0.3 x 430 x 30 / 31 million ounces.moriarty's wild guess was 92 million ounces.my calculation is close to that.

[MontyHigh]

1 Sq Km is 1000 m * 1000 m = 1,000,000m. Jr high school geometry. You underestimated by a factor of 1000. Also, gold is troy oz which is more like 31 g, not 28. I think counting all 30m of depth is probably wrong. I'll go with something more like:o Inferred is roughly 20K oz from 2 sq km. o Size of placer deposit is roughly 145 sq km. o 145 / 2 * 20K = 1.45 million oz. At $50 / oz that is 72

[Yukon_Cornelius]

"1 Sq Km is 1000 m * 1000 m = 1,000,000m. Jr high school geometry. You underestimated by a factor of 1000. Also, gold is troy oz which is more like 31 g, not 28. "OK- thanks for correcting-  I knew  1km = 1,000m but forgot to square x 1000.btw, my hs geometry is a distant memory- clouded by ounces of 'gold' that were 28g at the time. ;-)

[sumeroil]

so, 120 million ounces of gold according to my rough calculationa mother loadlol