Ann: Drilling intersects visible copper and gold mineralisation, page-90

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eshmun

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16/08/18

01:03

Post #: 34965012
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Originally posted by eshmun ↑

@digby218

They are estimates based on the information provided in the announcememt about the hole.

There are a number of assumptions I’ve made which I explained in my post if you took time to read it.

They are.

1) the deepest interval is likely to be the highest grade interval as that is the interval the company has displayed photos of the core for.

2) the grade of the deepest interval has been calculated based on using a sub-interval length for the predominant malachite of 0.5m (a bit longer than the actual sub-interval in the photo of 0.33m) and assuming the molecular weight of Cu in malachite (of ~57% Cu) to 100% of that sub-interval (ie some overestimation here) and also assuming the remainder of that interval contains negligible mineralisation ie = zero for this assumption (some underestimation here).

3) that the shallower high grade intervals will have lower grade than what I have calculated for the deepest interval (of 8.23% Cu), these are guesses at 5%Cu each, but guesses based on an estimated upper bound

4) to calculate the grade of the 55m, I’ve used the above grades for the three highest grade intervals and weighted the 55m interval based on each intervals length and grade again assumed that the mineralisation outside of these three higher grade areas is negligible ie =zero for this assumption (an underestimation here).

I’ve then halved and double all these grades to give a range and a preferred range for the Cu grade of the 55m interval.

How you can say my estimates are unresearched guesses is beyond me.

The purpose of these guesses for me is to have some benchmarks to assess the actual assay results against when they are announced. If they exceed my expectations (particularly with any gold that might be assayed) I might consider buying and if they don’t then I’ll hold off for the next results.

That’s how I assess the merits of these announcements. Hopefully you have your own reasrched approach otherwise you are just flying blind. I’ve been in enough of these copper plays to know you don’t win them all even when initial results can look very promising. Esh

Expand

I also refer readers to this post I made in response to @digby218

https://hotcopper.com.au/threads/an...4308066/page-87?post_id=34518862#.W3Q_r8K6ztQ

were I said

"How you can say my estimates are unresearched guesses is beyond me.

The purpose of these guesses for me is to have some benchmarks to assess the actual assay results against when they are announced. If they exceed my expectations (particularly with any gold that might be assayed) I might consider buying and if they don’t then I’ll hold off for the next results.

That’s how I assess the merits of these announcements. Hopefully you have your own reasrched approach otherwise you are just flying blind."

Eshmun

PXX Price at posting: 9.5¢ Sentiment: None Disclosure: Not Held
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Ann: Drilling intersects visible copper and gold mineralisation, page-90

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