The Lena deposit is about 110m from the twilight lode based on...

The Lena deposit is about 110m from the twilight lode based on surface projections.

Lena is lower grade and a potential open pit deposit. Without looking properly into "reality", assume Lena could be mined to a depth of 100m. Based on your assumptions, a near horizontal 5mx5m drive from a portal at the bottom of the Lena open pit to the twilight lode would cost 110m x $6000/m = $660,000. The drive would intersect the twilight load at 112m depth and if the portal was near the southern end of the Lena pit it would then only be between 10m and 5om of near horizontal development to reach the Velvet lode as well.

To get a decline with grade of 1 in 9 down to the top of my pod of ore would only require about 12.5m of vertical development costing $675,000. So assuming that scenario, the total cost of development to reach my pod of ore using your assumptions is $1.335 million, not bad considering it might contain up to $60 million of in situ gold. This obviously assumes there is an economically viable open pit at Lena down to 100m and also remember that my pod of ore is only a small fraction of the resource that exists at Lena/Twilight/Velvet which would also be accessed by the same portal and drive. Even if I've been overly generous with my ellipsoid it still looks very reasonable to me based on Lena being economic and minable down to 100m.

If that 140m extension down plunge hole comes good it's buy more time for me, even if the capital raising cash and carry traders sell into the news again. They might be too busy thinking about the short term gain to know what side their bread is butter on.

Esh