Using the average drill intersection and average grades quoted over 2.2km and the depth from the Aug 17 2011 data, I estimate 0.527M oz Au at Nabanga.
Averaging this way is misleading even for a simple estimation formula. It is better to average the product “grade X drill intersection” for each of the three zones separately. This reduces the estimate by 13.8% ie to 0.454 M oz Au..
It is only worth stating this type of estimate to one significant figure so either way that is 0.5M oz Au – so far, at Nabanga.
I think this result is great and can only get bigger when Met drills deeper there.
MET Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
