Sorry Gusto. No meltdown. Just a melt up on the horizon.
Just did a post on CEO. I'll summarize for SH.
Long story short. The 385koz of Gold at 8.5g/t is a big time underscore.
But why?
Just 242/538 holes could be used. 43-101 restricts the historic holes from being used entirely until all zones confirmation drilled.
Eastmain started that drilling. Benz will finish it.
The holes that were used. We're grade capped to 45/60 gpt Au/Ag. Every overlimit strike. Totally scrapped from the estimate.
The holes not used? The Placer Dome holes. Aka the best holes ever drilled in terms of grade and lengths.
What this all means is when Benz goes to put out its PEA in winter/Spring 2021. It will likely have 550+ holes of data to work from. This will mean a report based on a M+I deposit hosting over 1 million oz's of high grade near surface gold.
Capable of rapid permitting on a road with pre existing 60 man camp and all the power you could need at our door step!
Sprott says M+I oz's aren't expensive till you get to $100 per oz in the market cap. By this metric. Benz currently trades for $45 an oz.
But keep in mind the expansion targets and potential in the 10km's of known trend. It's like you get all of that for free!! But it all could push this to several million oz's once better drilled out.
Drills are coming soon! Last issue suggested drilling starts in September. So anytime now. Arrival will occur.
This isn't a wildcat story. This is a mine development story and the market is starting to realize it. There will be the odd dip and dip on the way to there our share price. But keep in mind at this stage, we still have 3x or a little more to go before this is expensive!
If drills start pushing out some 13.2m of 53.3 g/t Au, 8.78m of 79.2 g/t Au., and 3m of 8.34 g/t Au, 1016 g/t Ag and 0.21% Cu.
As we expand this deposit to depth, and along trend and strike. If any of these big numbers continue to show themselves. Benz will be well on our way to a valuation nearing a billion dollars if not more!
Real talk. The sky is blue here. Very blue! Great pony to ride the gold bull on!!