BarbuB

Stockwatch quote "...but newsletter writer John Kaiser has been talking up a potential 1.4 million ounces".

If I am not mistaken, Kaiser's guesstimate of potential 1.4Moz for the HGZ was done before the release of the glory hole, hole #273 with 2m @ 238 gpt (238/28.34 = 8.4 oz Au per tonne which is phenomenal) and open at depth. This section of 2m @ 238 gpt is equivalent to 158m @ 3gpt, if the intercepts are converted to a common grade (for my simple shoebox model). If the average values 39.0 m @ 16.3 gpt are used to take into account the other rich setions just above it then we have some 39m x 16.3/3 = 212 m @ 3gpt.

If we have a few more of these holes along the way then the shoebox would be quite chubby resulting in a lot more oz for the HGZ. It should not be unrealistic to come up with 4Moz (up to 2000 SE) with this chubby box, or at least it has big lumps along the way (like a boa constrictor after swallowing a few big rats). And if the HGZ extends over the entire lake then x2 would give a potential 8M oz (very rough guesstimate). This 8M HGZ + the LGZ of 4.3 M = Et voila 12M ozAu... YeeHaw!

Some speculations:

@ $55/oz : 12 x 55= $660M in-situ ~ x3 Market Cap, SP = $9/s

@ over $70/oz (TRR price tag) ~ x4 Market Cap, SP = $12/s

goldhunter