The first diagram was done pre-resource upgrade, but you can see the great hits they got at the southern end of the deposit, thus leading to the extra 36k oz in the MRE and 33k oz extra in Inferred (which will lead to about another 25k oz in the revised scoping study). If you think about it in oz's per meter of drilling they got 10 oz per meter drilled, and 9 oz of inferred per meter. Not bad.
If they get the same kind of results in the current round of drilling (no guarantees of course) that would add another approx. 25k oz to the MRE and maybe another 20k oz to the mining plan. So the scoping looks more like 14ok oz over 4 years (about 35k oz p.a) and NPV is getting up to $26mill +/- area. Plus it's still open at depth, with that juicy 1.7m @60 g/t hit at 400m from the deepest drill hole.
The red circle below shows the current 2580m drill campaign that started a month ago and the blue circle show some of the inferred resources that sits outside the current scoping study mine plan.
EGA Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
