Great Bear Resources Ltd. GTBAF

Bangor

[lechmeir]

"any idea how many ounces of gold we have"


We're looking at 5 kilometers of strike length...  possibly twice that, but from the drilling it looks like the maiden resource estimate will focus on maybe 2600 meters.

Here's my math - you can use your own numbers
 
length - 2600 meters
 width - 150
 depth - 400
 cubic meters -  156,000,000
 tons -  421,200,000


at 1 gram per ton
 421,200,000 grams     13,587,097 ounces

at 2 gram per ton
 842,400,000 grams       27,174,194 ounces

at 3 gram per ton
 1,263,600,000 grams     40,761,290 ounces

[CdnBadger]

Does your tonnage take into account specific gravity?

[lechmeir]

I used 2.7 tons per meter. cubic meters -  156,000,000  tons -  421,200,000

[goldbuz]

Lechmeir, I really like your estimate of over 13mil.oz. , but as far as strike length in the estimate, I believe that the length will be  4 to 4.5 kilometres. Just going by what CT has said and presented in his interviews they should have enough drilling done to do an MR on the 4 or 4.5 kl length. 

[flashcash]

I will be happy with a 2 to 4 million oz MR in an open pit :-) GLA

[lechmeir]

Goldbuz.  From what CT is saying, it should be longer.  You're correct.  I also hope to see more than 1 gram per ton.  I'm just trying to weigh the odds against myself and err on the side of caution.  Even at that it looks great.

[Ivorygull]

leichmier, looking at the plan map you provided, almost half of that 4.5-5km has greater than 20 grams per ton in it, so your 2600m has basically that much in it. IMO, that would make it an easy 3 grams per ton in your 2600m, which I think will be closer to 5 grams, and that over the whole 4-5-5km, we get that 3 grams per ton. I like to dream big. Only 150 sleeps to go, hopefully.

[Ivorygull]

lechmeir........sorry, I spelt your name wrong. In the end, what ever we have, it will make a lot of us a lot of money.

[goldbuz]

Nothing wrong with dreaming big. CT has been saying that this is going to be a tier 1 mine. To have a tier 1 mine you need at least 5mil.oz. to start. That being said, and I have nothing to back this up, my guess is a 8 mil.oz MR.

[lechmeir]

Ivorygull - I did the calculations up to 20 grams...  I only posted the first three iterations.  (quoted again below) I'm trying to keep it modest while hoping for more than I can even imagine....  When you realize that 3 grams per ton over 2600 meters is neary 41 million f'king ounces, why, it just makes it harder to even sleep. In reality this has some blank spots in it

[Ivorygull]

Good times for sure lechmeir :)

[Bangor]

Thanks for the info good insight. As a shareholder I think it would be better for us if we're bought out I know last year Barrick ceo said it was a very interesting story. Imho

[lechmeir]

Bangor - "better for us if we're bought out" That's the endgame.  Maiden Resource Estimate is due out, probably first quarter 2022.  (PEA to follow.) I imagine the majors are already doing whatever calculations they can, based on public information and their access to the core shack.  Once the MRE drops, we'll probably be looking at offers.