At the private presentation yesterday at TO show, Brian said they had discovered 7 more veins parallel to Golden Mile (2km in length). They drill assays coming out in NR will range in depth from 50m - 70m. The sole purpose of these is to determine down dip direction. Let's have some fun with numbers, shall we?
Assumptions:
1) In ground gold value is $200/oz
2) 7 new veins length are at least 2km give GM is open in length in both directions
3) Specific gravity 2.5, confirmed by Bill and Brian at show
4) Average width 3m - I'll use 2m
5) Avg depth 60m for this round of drilling
6) Avg grade in area and more than confirmed at Hercules 20g/t
Area = 19,000m*2m*60m= 2,400,000 m3
tonnage = 2,400,000 * 2.5 = 6,000,000 tons
grams = 6,000,000 * 20g/t = 120,000,000 grams
oz = 120,000,000/32 = 3,750,000 oz
in ground value = 3,750,000 * $200 = $750,000,000
sp = $750,000,000/100,000,000 = $7.50!
And... the typical depth of these systems in this area greater than 1000m!!! Think about that! And given these markets you want Gold in your portfolio!!!
Have a great day!