drv update
posted on
Oct 07, 2008 02:43PM
Focused on exploration and advancement of mineral projects in Peru
This is from the MMG forum for those of you that don't frequent there. It's very good info. Cheers.
I thought I would share my theory based on what we have been told about Aguila so far:
Things always seem easier to understand when you can picture it so I hope this will help everyone understand the Aguila better
On some computers it will be easier if you download the picture first and then open it with an image viewer http://www.filebrella.com/download/6... or right click on this and save it http://download1.filebrella.com:84/3... I’ve attached a recent map provided by the company and I sketched in the old Aguila pit (small circle) and our values to date including the RTZ holes.
I drew an elliptical (shaded area) shape over what I found could potentially be graded a minimum 0.5% and up as high as 1.316%
I calculated the area of this elliptical shape to be approximately: 750m by 350m = 206,167m2 206,167m2 x 500m depth x 2.7 = 280 million tones grading over 0.5% (lets give it an average of 0.8%)
280m tones of 0.8% at $2.50Cu equates to over $5
Keep in mind that the outer limits of the pit could be expanded to lower grades of down to approximately 0.25% (depending on metal prices and grade) break even or better and giving low strip ratio
Ongoing drilling will continue to develop this figure
For now I strongly believe we are safe to count on an economical deposit of approximately 300 million Tonnes of ore
The also does not take into account any other future discoveries in the area