QUOTE="jules1970, post: 23868912, member: 69318"]Ounces per horizontal mt isn't a calculation often used.
Ounces per vertical mt is worked out by grade x width x length
For example (example only) if you have an orebody 250mt long, 4 mt thick and grading 10gpt and then convert grams per ton to ounces per ton.
250 long x 4mt wide x 1 mt depth = 1000m3 x 10gpt = 10,000grams per vertical mt x .32 = 3200 ounces per vertical meter.
As this orebody has multiple lenses, all at different widths, lengths and grades, its not a simple calculation at this point, however due to the lenses being quite close to each other, they can be treated as a single unit when it comes to developing a mine, IE: only one pit and one decline with different stope access points to exploit the whole orebody.
This makes for cost effective mining, the grades I'm seeing here, pretty much tell me, this will get the go ahead at some point.
An old rule of thumb is something along the lines of 500oz PVM makes a mine, 1000oz PVM makes a good mine, anything above that is a champ.
That old rule of thumb is of course grade dependent., your not going to move a million ton to get your 500oz.
Hope that helps.
Really looking forward to the next round of drill results, I think we're onto a cracker.[/QUOTE]
MGV Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
