Post by
Wangotango67 on Mar 11, 2021 5:23am
2009 - BEST YEAR TO CARVE RESERVE DEPOSIT
March 2009, Skygold Ventures Ltd.
released an updated resource estimate based on drilling from 2005 to 2008. They reported 102.3 million tonnes combined Measured and Indicated Resources grading 0.785 gram per tonne gold and 11.65 million tonnes Inferred Resources grading 0.787 gram per tonne gold, both based on a 0.50 gram per tonne gold cut-off grade
102,300,000 / tonnes ( jonly - M +I )
x .785/g
------------
80,305,500 / grams
~ 31.1 ( oz conversion )
----------------
2,582,170 / gold / oz
Then on....October 2016,
an updated mineral resource for the Spanish Mountain occurrence was reported at 270,140,000 tonnes measured and indicated grading 0.40 gram per tonne gold and 0.67 gram per tonne silver with an additional 181,352,000 tonne inferred grading 0.31 gram per tonne gold and 0.65 gram per tonne silver, using a 0.15 gram per tonne gold cut-off
271,140,000
x .40/g
---------
108,456,000 grams
~ 31.1
---------
3,487,331 gold / oz
2009 to 2016
the gold intercepts were weaker aftger 2009.
by the time - 2016 rolled around - the average gold grams per tonne were
= .40 /g tonne.
Now, how many more ounces of gold would there be if a cut off of, .15 was apllied
to the 2009 - 102,300,000 tonnes @ .785/g per tonne.
One has ot assume the cut off was already factoredd to arrive at a - .785/g per tonne.
So a buffer of, .5 cut off was apllied to the 2009 gold grams.
0.5 cut off
- 0.15
--------
= 0.35 ( applied to the .0785/g )
+ 0.785
---------
1.135/ grams per tonne.
Now... let's apply this 1.135/ grams to the 2009 - ore tonnage.
102,300,000
x 1.135 grams per tonne
= 116,110,500 grams
~ 31.1
= 3,733,457 ( gold oz )
By shuffling the cut off - gold ounces incres by,
246,126 / oz
x $850 ( example )
= $209,207,100 ( usd )
And... why are we playing with only - 1.2/ million ounces again ?
The gold grams back in 2009 were already up at a decent level - if - cut off was tinkered.
1.135/g per tonne. ( 0.15/ cut off would fix it )
hey... the same 0.15/ cut off was used in
2016 - WITH A LESSOR gold gram average of - .40/g.
So.. .can i assume the additional 28 holes were infill drilling for a reserve ?
Only aiming for 1.2/ million oz ?
Or should it be... far more ounces ?.
One would think a sharp pencil - would carve the original 2009 deposit
by simply - shuffling the cut off - to arrive at a highe recovery rate....
After all - SPA has a supposed 95% recovery ?
Anyways....
Just how i see the ore body.
2009 is the best year that racked up the highest oz with best average grades.
After this point in time - the grade averages reduce - more tonnage inceases -
One could... aim for 1/g per tone.
.perhaps squeeze a few .40/g drills in without affecting the 1.135/ gram average too much
the result would increase the gold oz but the grade would dip dow nt o1/g tonne.
REFERENCE LINK -
https://minfile.gov.bc.ca/Summary.aspx?minfilno=093A++043
Cheers....