PRB SE Deposit Estimate (complementary to post by The Mooster)

The Deposit Model could be visualized as a cheese block arrangement, as shown in the picture below:

• Cut a long cheese block at 2 places to make 3 blocks: A, B and C.
• Separate Block A from B by ~250m to represent the gap created by the wedge (assuming that this wedge is part of some patented claims, which has not been acquired by PRB. Separate Block B from C by ~100m to represent the patented claims on the other side of the lake. Note: The lake and Block C are 100% PRB.
• The “fan” drill holes at 1200 SE (and 1150 SE) could be modelled with a bunch of BBQ sticks piercing the cheese at various angles. The intersection information for Section 1150 SE and 1200SE is quite sufficient for a good guess for the witdth = ~200m
• Strike: A+B = 1150m (use 1000m for conservatism).
• Thickness: 25-50m (use 30m) with average grade of 4gpt Au.

The math: 200m x 1000m x 30m = 6 M m3 x 2.6 (quartz sg) = 15.6 M tonnes x 4gpt/32 = ~ 2.0 M oz. To be conservative, take half of the strike length: 2.0 M/2 = ~1 M oz (up to the last hole in the middle of the lake, hoping that the last hole would give results consistent with the above assumptions; the rest from the last hole to the other side of the lake is ignored, since we have no info, yet. Similarly, Block C is ignored).

In summary, based on the results of several holes @ 1150 /1200 SE and 2 ice holes (384 and 378),… and above assumptions, a deposit of 1-2 M oz could be inferred. Adding the wedge and patented claims around the SE lakeshore to the strike length would increase the deposit estimates by ~35% (1350)/1000 = 1.35). This increase of 35% is (somewhat) significant, but having a continuous piece of land (more elbow room is always good) would give PRB more flexibility for putting together the site plan. It would appear that the project is going to be a combined open pit and underground operation under the lake. Just some speculation based on what is currently available + guesses…goldhunter