If I were wise, I'd be patient and wait for each drill hole result to role in, one by one. I'm not very wise or patient, so I'll post what I think some baseline or average grades might be. This is based on 2016/17 rock samples and grades from the 1984 mining results (posted above).
In 1984, the average grade of Weolyu was 7.0 g/t Au and 600 g/t Ag (+Ge). That's about 16 g/t or 1/2 an ounce per tonne Au equivalent at today's prices. Many of the rock chips taken from the top of the hill (250 m higher than the mine) are of similar grade. Bearing in mind that these types of deposits are highly variable by nature, there's a good chance the first couple of holes could actually indicate an economically viable deposit. Anything 10+ g/t (Au equivalent) is pretty darn good.
The two upside things, that may not be apparent from the first hole, are;
- Bonanza grades - 1 ounce per tonne Au equivalent (no need to elaborate).
- Vertical extent of mineralised system. The average is 300 m for LS epithermal systems and is often "telescoped", however, the implied vertical extent of Weolyu is already ~300m. If it turns out to be far greater than 300m, this would be somewhat equivalent to striking bonanza grades. Also, drilling penetration rates are very slow and this could imply a large(r) vertical extent.
I'll attach an old article about Wolyu. The last paragraph stating 1800kg (~6000 Oz) Au and 1000+ Kg Ag c1960s, should be taken with a large grain of salt (old Korean miners avoided taxes - it's fair to say). However, the 1984 mining average of 7.0/600 g/t is probably a reliable number IMO. It sort of matches many of the rock chip samples from SAU.
SAU Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
If I were wise, I'd be patient and wait for each drill hole result to role in, one by one. I'm not very wise or patient, so I'll post what I think some baseline or average grades might be. This is based on 2016/17 rock samples and grades from the 1984 mining results (posted above).
