Great Post--Rough Resource Calculation-Thanks Fairchij--SH
posted on
Jul 29, 2010 11:05PM
So far in 2015, three trenches have been completed in the area covering the smallest proposed pit located furthest west with channel sampling from the middle trench, TR15-11, returning 6.05 g/t Au over 8 m including 14.98 g/t Au over 3 m.
Highlights from the news release:
GR-10-78, collared nearly 250 metres east of GR-10-17, was drilled to a vertical depth of 350 metres and intersected large alteration and intrusive zones.
the other drill rig will continue to gradually push eastward over highly prospective ground that leads out to LONG Bars Zone 2 which begins 1500 metres east of GR-10-78.
The total surface area covered to date by Phase 2 drilling in the ENE is 370 metres north-south and 384 meters east-west.
I ran a preliminary calculation (increases to the block model)
I added 250 meters to the 1100 meters established by hole 17 for a mineralized zone strike length of 1350 meters. Applied the 500 meters width used in the block model and extended the depth from 70 meters (used in the block model) to 100 meters (appears it could significantly deeper than this) And I applied the grade of 1.62 g/t established by the bulk sample.
This model gives use a resource of 8.5 million ounces. Now we add the blue sky potential and I think we can say that Granada is turning into a very significant deposit located 65k from Milartic.
I don’t like to give advise so I won’t. Just recognize that there is huge value being developed here. No way I would consider selling my shares any time soon.
rock weight in kg per cubic meter |
2650 |
lbs/tonne |
value |
0.0292 |
conversion (troy ounce per short ton) |
||||||
% ni |
0 |
0 |
0 |
0 |
2.205 |
lbs/kg |
|||||
% cu |
0 |
0 |
0 |
0 |
1000 |
kg/tonne |
|||||
|
oz/tonne |
2205 |
lbs/tonne |
||||||||
g/t au |
1.62 |
0.047304 |
52 |
||||||||
g/t Pd |
0 |
0 |
0 |
||||||||
52 |
rock price per tonne |
||||||||||
2.65 |
conversion factor |
||||||||||
138 |
rock price per meter |
||||||||||
grade |
1.62 |
g/t |
|||||||||
area |
width |
500 |
|||||||||
length |
1350 |
||||||||||
depth |
100 |
tonnes |
|||||||||
67,500,000 |
cubic meters |
178,875,000 |
|||||||||
9,307,653,300 |
value |
||||||||||
150,000,000 |
# shares f/d |
oz |
|||||||||
1.00 |
option interest |
||||||||||
$62 |
value/share |
8,461,503 |
|||||||||
0.9 |
discount |
||||||||||
$6.21 |
DISCOUNTED NET PRESENT VALUE |
||||||||||
178,875,000 |
tonnes |
||||||||||
8,461,503 |
oz |
||||||||||
$100 |
buy out/oz |
||||||||||
1.00 |
option interest |
||||||||||
$846,150,300 |
take over price |
||||||||||
$5.64 |
price/share F/D |