So were they.
Still one out of three ain't bad.
Companies have a tendency these days to publish the widest width and fade the grade. The widths are grand. Of the grades in the one hole, they are what is called "mine run".
You get 33-33-33 in most mines. 33% low, i.e. .05 to .15, 33% medium, i.e. .15 to .32 let's say, and 33% high, i.e. .32 to 1.5 oz's. In order to determine your averages, you have to drill in excess of 20 holes into an ore zone. I am comfortable with 150 or more to get a feel for a mine. By contrast Wildcat has about 140 into its ore zone and the averages are about .47 ozs/short ton. But you could take ten here or ten there and be below .13 oz's. Plus at most gold mines, you could drill from 6 inches to ten feet away and get triple the grade, or 1/3.
What is encouraging in gold drilling is if you can get "no blanks". In other words say more than .02 oz's in every hole you drill.
It depends on the ore body. Some gold mines are maddeningly consistent with hardly any high grade holes. Others are up and down like toilet seat at a mixed party.
I remember sampling the Croinor Pershing in PQ in the early 80's. Every sample I took was within 20% of .25 ounces for one mile. No blanks, no real low, and nothing high. I figured that was the grade and that was that. But much later in another zone entirely they were able to find a better tenor, closer to .30 oz's per ton.
Gold is full of surprises, and that is what you count on.
EC<:-}
AI
