Cheap to mine high grade from surface as it approaches the porphyry target.
This would have a wastere strip ratio of next to nothing in the first 100m depth on that section.
Consider this man-math.....500m strike x 150m depth x 50m av thickness. That's 3.75m cubic metres in a pit. Make your own assumptions on scale.
Assuming a pretty average spec' gravity of x 2.8 that's 10.5m tonnes grading around 3g/t gold ......
At 31.1g In an oz that's circa 1m oz of gold alone.....ignoring the silver and copper.....all from surface in a low cost open pit. Any derivative of that has to be a cracking good start to an operation.
PXX Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
re strip ratio of next to nothing in the first 100m depth on that section.
