Post by
garland on Mar 24, 2022 11:32pm
reserve estimate for western extension
The following is my reserve estimate for the western extension only ( all holes drilled west of the first lake) I have divided the western extension into three components and calculated the number of ounces on simple volumetrics :
length (m) x width (m) x thickness (m) x rock density 2.73 (from 43-101) = tonnes x average grade( g/t) = grams divided by 30.1 grams ( into ounces)
Area A ( holes 176 -181)
325 x 225 x 65 x 2.73 = 12976031 tonnes x1.7g/t = 22059252 grams divided by 30.1 = 732866 ounces
of gold
Area B ( holes182 -186 and 191)
325 x 275 x 33 x 2.73 = 8051793 tonnes x 1.5g/t = 12077690 grams divided by 30.1 = 401252 ounces of gold
Area C (holes 187-190)
800 x 25 x 20 x 2.73 =1092000 tonnes x1.1g/t = 1201200 grams divided by 30.1 = 39907 ounces of gold
TOTAL OUNCES = 1.174025 Million ounces of gold currently within the western extension
This is only my conservative estimate ( please do your own dd.)
- - - but when you apply this number to the existing resource PLUS numbers below and to the south and west of the pit shell ( deep drilling), Nelligan is well on it's way to becoming a huge deposit ( 5.0 million ounces plus) which is going to require at least an additional 150000m of drilling to determine it's ultimate size and grade . I look forward to evaluating the deep holes where I expect to encounter a lot of high grade and the eventual location of the shaft required for underground operations ( the final chapter in this ongoing saga)
Once again we wait (but ounces are building and we WILL be bought out)
Comment by
Cashcow49 on Mar 25, 2022 12:33am
Garland in your opinion at what price would you consider fair value, we are a small percentage of it.,