th !!!, page-10

Here's something interesting. It's just some late night meanderings, but it leads towards a bit of a back of the envelope estimate of what is at Goongarrie.

Take the interval weighted average of Anthill's recent assays where the tenement is roughly 150m by 150m...

26.75m @ 1.9g/t

...and compare this to the interval weighted average of Goongarrie's assays where the tenement is roughly 400m by 50m [about 90% the surface coverage of Anthill]...

3.25m @ 7g/t

So what does this mean?

Well Goongarrie is roughly 0.9 times the size of Anthill, with about 3.7 times the grade, at about 0.12 the width of strike.

Crunch those numbers together...

0.9*3.7*0.12

And you get a figure of 0.4

So we can reasonably expect Goongarrie to have a JORC of at least 40% the size of Anthill, which is about 64k ounces.

Funnily enough, I have been thinking all along that Goongarrie was the prime property and Anthill was just along for the ride. However when you look at the assays in this light, it appears as though Anthill is the head of the pack, and Goongarrie will be there to add up the numbers.

Hypothetically, if this estimation is in the ballpark, then 64k ounces plus 160k ounces would give us 220k ounces over the two tenements, which far exceedes my own expectations out of these two small time prospects.

I should put a caveat on the above figures. I estimated Anthill would hold no more than 50k ounces. LOL. Look how wrong I was!! Furthermore, because the style of the two deposits is so different, it might not be viable to compare the two projects in the same light.

Ah well, food for thought over the weekend I guess. Speak up if you have another way of estimating what the resource may be, because going down the volume and interval method that some of us tried to do last week had us greatly underestimating Anthill's resource.