RE: JORC Valuation12 May 2026 07:36
The assumption currently is that the downward projection of the veins run 100 m below surface.
Veins in the region are observed to extend to around 300m (e.g. the analogous Santa Catalina mine exceeds 500 m, while geophysical data currently suggesting over the area is more likely 300 m +). It is also well known that structures in the region can infact run 1000m deep.
This conservative assumption with the up to 200k Oz is projected on veins going 100m deep. If as like many in the area go 300m + deep and this can be very possible and well the upper estimate begins to look very silly.
A quick check then has a likely estimate of base case being something like 300k to 700k. Of course they can't say that as the data is limited, however it's not a question about the gold being there. It is....it's how they extract it. I don't think you bring a team on site unless you plan to do so.
It's not just about mining. Combined Target Value of tailings for seven regional targets account for an estimated 5.1 Mt of material with average grades of 1.22 g/t Au and 34.46 g/t Ag, representing a contained estimate of 267,118 gold equivalent ounces (AuEq).
So when you consider these with a processing plant, plenty gold, plenty ounces for this company to be making money and the mcap is in joke territory currently so can be very lucrative for investors.