RE: Remember $8-16bn in Gold. £4m mcap2 Dec 2024 14:57
Remember $8-16bn in Gold. £4m mcapToday 13:42
Oracle Power (ORCP) has not yet published BUT IS DUE THIS WEEK, a formal resource estimate for the Northern Zone Gold Project, we can attempt a **conceptual estimate** based on the available drilling results and assumptions typical for early-stage exploration projects.
### Assumptions:
1. **Drill Area Coverage**:
Drill holes indicate continuity within a porphyry system approximately **600m wide**. Assume an initial resource is outlined in a smaller test area of about 600m x 600m x 50m (shallow depth based on reported intersections).
2. **Rock Density**:
Typical density for gold-bearing porphyry systems is **2.7 tonnes per cubic meter (t/m³)**.
3. **Average Gold Grade**:
Based on the results provided, grades seem to average around **3-5 g/t Au**, but we'll use **4 g/t Au** for calculation.
---
### Calculations:
#### 1. Estimate Total Volume:
Assuming the area is a 600m x 600m x 50m block:
\[
\text{Volume} = 600 \, \text{m} \times 600 \, \text{m} \times 50 \, \text{m} = 18,000,000 \, \text{m³}
\]
#### 2. Convert to Tonnage:
\[
\text{Tonnage} = \text{Volume} \times \text{Density} = 18,000,000 \, \text{m³} \times 2.7 \, \text{t/m³} = 48,600,000 \, \text{tonnes}
\]
#### 3. Contained Gold:
Using an average grade of 4 g/t:
\[
\text{Gold (grams)} = \text{Tonnage} \times \text{Grade} = 48,600,000 \, \text{t} \times 4 \, \text{g/t} = 194,400,000 \, \text{grams}
\]
Convert grams to ounces (1 troy ounce = 31.1035 grams):
\[
\text{Gold (ounces)} = \frac{194,400,000}{31.1035} \approx 6,247,000 \, \text{ounces}
\]
---
### Conceptual Estimate:
- **Tonnage:** ~48.6 million tonnes
- **Grade:** ~4 g/t Au
- **Gold Resource:** ~6.25 million ounces
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