Post by
nozzpack on Aug 12, 2024 1:52pm
Orion Gold Resources
The Orion deposit contained measured and indicated resources of 1,096,500 tonnes grading 4.47 gpt for 157,600 ounces of gold and inferred resources of 1,288,000 tonnes grading 5.44 gpt for 225,300 ounces.
So, about 380,000 ounces in all categories .
Additional drilling in 2021-23 extended the strike of Orion by 550 meters at grades consistent with those above.
Orion will be included in the updated FS which contains 272,000 of Reserves plus drilling in 2022-23 found more ounces and new discoveries also around the HD mine.
So , I am confident that should be able to convert over 200,000 ounces of Orions Resources to Reserves , including 50,000 ounces from Stoger which gets us close to about 500,000 ounces of Reserves or about an 8 year mine life @60,000 ounces per year .
The other 3 discoveries at HD should get us more Reserves , completing a 10 year mine life.
GL paid $650 per ounce of gold Reserves today for 3.4 million ounces of Reserves held by OSK.
That gives you some idea what our current 300,000 + ounces of Reserves are worth today not including a fully equipped mill and all infrastructure ..