With 2 drills now working on the Key Lake Project , we have built our own model for attempting to see what this resource may look like after this year's 30,000 metre drill program is actually finished..
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From the released assay results to-date and from the 54 holes drilled at Key Lake , we see 51 holes have gold values, with the remaining 4 holes ( 10-7, 10-27, 10-30, and 10-42 ) showing no assay results. Our conclusion is... either they have not yet been released or they contain no significant results.
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From Key Lake's 2010 estimated 15,000 metre drill program, we see that only 12,430 metres was actually drilled..
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From this information and with our own calculations, we estimate they have found approximately 79,526 ounces at around 1.25 grams per tonne from the drilling of that 12, 430 metre program .
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If we continue in thinking that each future metre drilled in this year's 30,000 metre program, results in the same average grams per tonne, then we feel they could uncover another 191,937 ounces in this year 's drilling.
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We have now calculated our new target of around 271,463 ounces of Gold for Key Lake . We will also continue our thoughts, with any revisions that may become necessary, after seeing further assay results from this years drilling program.