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I quote from the Proactive article in verbatim:
"In very rough terms, this body could host approximately 60m tonnes of material. On this basis, and at a gold equivalent of 2 grams per tonne, it would generate the m o r e t h a n 3 million ounces that w o u l d p r o b a b l y be r e q u i r e d by Newcrest [NCM] which is presumably the reason why the major entered into the farm-in."
"So, the potential size of Haieron is key....."
The title of the Proactive Investors UK article: "Numis coverage of Greatland Gold is a harbinger of greater things to come." by Alastair Ford. Thur 22 Aug 2019
Read the full article and it appears clear?
The link is within this thread as provided by PaddyGall today, 22.8.19
Tiburn,
From the Proactive Investors article, it states 300m. This is what you posted earlier, one JG*s figure of 300m vs Greatland Gold*s model of 600m.
Currently, 11 holes have been made known officially [9 by GGP & Hole 10-11 by Newcrest]. So, Numis note has to be based on 11 holes at Havieron. Usually, it would need 14 holes in other examples I have seen.
However, one cannot just jump straight to the end line at this point in time.
So, as the drilling continues with more results, the model can be more finely tuned. They have the software modelling. I think Salpetite uses Poet Geo from one of his posts.
The Aussie geo explained that to be economic it has to be block caving and this is generally known. He said the cost is akin to o/p.
However, at this point in time, one has to realise that the yardstick is to know what the baseline is needed.
From what has been written by Proactive Investors, it does say more news etc to come and how big is the question [kindly check]. This article was written by Alistair Ford, the mining analyst at Mining Capital.
Hence News why earlier I queried your posts, you are highly intelligent or I’m a dunce as I really follow what you are getting at??
Hi News
please can you clarify as im not sure I understand you?
Are you saying that Jonathan Guy used 600m as a width value in his calcs aswell?
so replace 100m in the worked example with this value?
Tiburn*s 15:51 post quoted Greatland Gold*s modelling ie 600m x 600m.
The Aussie geo also used Greatland*s 600m.
The baseline is the minimum from empirical data of other such Oz bodies which is needed ie 300m?
Thanks Paddy, your right, twas a dream
I found this article and input the values
https://undervaluedequity.com/mineral-deposit-value-how-to-calculate-the-potential-value-of-a-mining-project/
length = 300m
depth = 800m
width - not stated by Guy, but assume 100m as per example
gives 120 million tonnes of mass
and 3.5 million oz
oh well :)
Its a baseline figure.
Hence, why more results come out, more input?
Tiburn
I work it out as follows if it's a cylinder
300 metres across and 800 metres deep then pi x radius squared x height
3.1415 x 22500 x 800 = 56,547,000 cubic metres
Multiple this by the factor for soil (conservative 2.32) - gives about 131million tonnes by my calculations
GLA Paddy
Thanks Paddy,
I just wanted to check something with you
I know very little about calculating the mass of ore bodies ( back of a blackcurrant level) but I cant understand why the calculated mass in the article by Jonathan Guy is so different from original mass estimates in Greatlands project description:
"The drill data and geophysical results suggest the presence of a large sub vertical irregular ellipsoidal body that stretches from a depth of 400 metres to at least 1,200 metres that is 300 metres across,” writes Guy.
“In very rough terms, this body could host approximately 60mln tonnes of material. On this basis, and at a gold equivalent grade of two grams per tonne, it would generate the more than three million ounces that would probably be required by NCM, which is presumably the reason why the major entered into the farm-in.”
so only 60 million tonnes material?
Whereas original Greatlands description from their modelling, with a similar scale of ore body:
“Results of forward modelling have defined a primary body approximately 600m x 600m across with a depth extent from 400m to 900m below surface resulting in a potential volume of more than 240,000,000 cubic metres and an estimated mass of more than 650,000,000 tonnes.”
So 650 million tonnes, factor of ten difference in material?
If a factor of ten difference is right (but wtdik) then instead of over 3 million oz Guy estimates - its actually 30 million ozs :)
Sorry, I forgot to mention that I discussed it with an Australian geo [from his posting appears to be so] and he did say that to get another metric is 1 pay scale above his. That will be an Economic Geologist rather than an Exploration Geologist who is qualified to put out figures.
P.S.
Someone on this forum a while back postulated 4-5g/t for Havieron. I looked at the historical data from Telfer and got another figure. I then went on to another forum to discuss this aspect because without a average grade, one cant postulate a model. It could be too high etc.
So, we agreed that 2g/t for average modelling was optimal against the historical Telfer figures.
I was asked about my post this morning relating to Numis note on GGP.
I cited that after 11 holes at Haiveron, Paterson, Numis modelled 3moz gold.
However, I did not have the access to the full 30 page Numis note written by the eminent Johathan Guy. However, from PaddyGall*s link just out, the Proactive Investor*s article gave the final metric. The known is depth 400m to at least 1,200m and 300m across. Numis used 2g/t as the metric which then gave a model of 3moz of gold. This was discussed elsewhere and it 2g/t would be a reasonable average figure - however this could not be postulated without confirmation from Numis. Now that the details are out, one can cite it otherwise its just speculation etc or own assumptions etc.
Per the Proactive Investors article relating to the Numis note on GGP, it is now a matter of how big [please check]. Just posting this as I was asked what the data was about. I said that historical data from Telfer is insightful and this was where we got the hypothesis.
Per Proactive Investors UK article by Alistair Ford, more news to come and no doubt further analysis from the experts.
DYOR. Historical now.
Thur, 22 Aug 2019
Thanks to PaddyGall who spotted the article first.
Here we go .....
Paddy hi,
Great post thanks :-)))
Anybody with a subscription to sharesmagazine? I think you can get access to the broker note if you have on there.
Cheers Paddy ... need Numis & other publicity to generate strong buying hopefully 'Institutional'
Paddy corker!
Corker paddy
Another nice write-up by proactive today
https://www.proactiveinvestors.co.uk/companies/news/901330/numiss-coverage-of-greatland-gold-is-a-harbinger-of-greater-things-to-come-901330.html
I would like to see the full 30 page report from the analyst
GLA Paddy