Drill results have been spewing from Sol Gold this year and I've been too lazy to bother updating my model, but as people have been irritating me, I've decided to undertake the herculean task of bring in more than 135Km of DH data into some sort of semblance.
I've probably failed, but the 3D model looks pretty (link), and that is the only thing that is important.
Cop-out section: A lot of drill hole information (e.g. final hole lengths etc.) wasn't included in the press releases and on the maps accompanying the recent press releases there are so many holes.
|like a orgy of rabid worms|
You can see that there are holes over holes over holes, to such an extent that even Sol Gold aren't able to accurately label them!
|The deposit with 2 holes with the same name|
Basically, what I'm trying to say is, take my results with a pinch of salt, I've tried to do the best I can, but I don't know how accurate my model is, so beware.
Before I started compiling the data, I was concerned that the majority of the drilling was focusing on the high-grade core initially defined in 2017 and that all Sol Gold will have done is simply moved a chunk of the Inferred Resources into the Indicated category, which would be regarded as a bit of a failure after drilling so many holes and spending so much money.
In addition, when you pull apart the assays, we see time and time again, that in reality the >1% CuEq mineralization is restricted to quite narrow zones, surrounded by sub-economic (<1%CuEq) mineralization.
Back in January (link) I updated my original model to try and replicate the official SRK resources, and here is my latest version that (tries and probably fails) incorporates as much of the data as possible.
I've been a bit handicapped by the fact that Sol Gold haven't released assays for every hole drilled, just summary results from the best ones.
Here it is:
Table from January 2018 post
The changes are moderate:
- Specific Gravity - 2.77, taken from the technical report -
- Global resources (>0.3% CuEQ) increased by ~37%
- High-grade resources (>0.9% CuEq) increased by just 12%
Overall, a bit disappointing.
Just a quick question for people in the mining bizz, this paragraph caught my eye in the Alpala technical report
US$5M is a lot for a PEA, isn't it?