JORC - Misleading Data - AP Podcast coming to clear it up29 Oct 2020 22:21
Hi all,
A friend of mine who is also invested in VAST is on another forum, one of the members just posted the below update on the JORC Data and contacted AP about it as well.
Others more clued up on mining data might value this info so I thought I’d post it here as well....
Ok. Contacted AP and he was straight back to me and has given me permission to share my concerns re the numbers saying they are not recalculated down at all.
The 608,000t are new in the area immediately to be mined that we’re never drilled or reported before.
The historic grades mentioned are still as per previously announced and are noted as such in the JORC under article 2.4.1.
The reason they are in “Exploration” in the JORC is that under the code you must have certain criteria to classify it in Measured,Indicated or Inferred, these include having the cores, the collars and certain data sets that were not retained by the mine historically.
So it had to be categorised that way.
So that’s the “minimum” in the exploration category in quantum.
The other 1.2mil is taken form other data we have, but again, we haven’t verified, so under JORC you have to state the ranges.
So this is only the immediate area which is less than 10-15% of the license area which is mineralised and the indications are that it is more than double what was previously told to the market.
AP: We had to upload the JORC and take down the old page, but the old resource figures are in the JOrc as mentioned above and will be noted on the website soon at the top of the page in the next few hours
All will be included in upcoming podcast.
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