NVA 4.88% 21.5¢ nova minerals limited

Ann: Operational and Canadian listing update, page-56

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  1. 125 Posts.
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    For those (like me) who don't know what a g/ton ratio is for gold (and other commodities), have a look at this link: http://www.mining.com/web/making-the-grade-understanding-exploration-results/

    It states:
    "GOLD: It is usually reported in grams per tonne (or g/t), although sometimes, in the US, it is in oz/ton. A gram of gold is worth about $25, so 2 grams or better would be viewed as high-grade for bulk tonnage mining. One hundred metres of good grade is again good criteria for thickness".

    Current gold price is US 42, so high grade for bulk is now 1.19 g/ton I guess. So our current numbers are a little less than high grade.

    For open pit mining (low cost)  the following needs to apply it seems:

    "Open pits are generally less than 300 metres deep and are several hundred metres in diameter. Two questions to ask are:
    - Is the zone less than 300 metres deep?
    -  Is the drill intercept over 100 metres thick?

    Not sure, but it looks like we are nowhere near those numbers for the images shown, but maybe @wombat777 knows more and better

 
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