Hi,
One, no known cone sheet has the full 360 degree circumference fully developed. Two, the feeder/conduit of a cone sheet invariably is pinched off (it closed up after the sheet was injected-therefore no pipe). Three, there obviously is some faulting which will take more drilling to fully understand and resolve. Four, kimberlite dykes have a reported characteristic of having very consistent diamond grade once it is established. Five, the two, 100 tonne samples were "blind" under drift/tundra and reported very similar grades over 100 meters apart. It is improbable that these two samples somehow each hit high grade pockets of equivelent grade. Six, if I recall correctly, there were 15 diamonds over 1 carat and 3 diamonds in the 7-10 carat range. Seven, these are obviously clear, inclusion free stones to receive such a high valuation-exactly where 90% of the money is in the diamond business. Eight, you would have to mine between 8,000 and 30,000 tonnes of ore (depending on grade) at an open pit "pipe" to get a similar number of large high quality stones.
If you take the consistent dip of 12-13 degrees and project to surface to get the sub-cropping edge of the cone sheet, use 2.5 meters average thickness, a conservative rock density, plot where the holes are on the map provided on the WSP web site, assume 50% of the cone sheet is present, you will actually come up will over 80 million tonnes!
Clearly, IMO a conventional dyke system would not exhibit such uniform dips and thickness. Nor would it have the tonnage and economic potential. I wouldn't expect other dyke systems in the NWT or elsewhere, to compare to Snap Lake as a kimberlite cone sheet is a very unique and special circumstance.
I think everyone can do the rest of the math to figure out what WSP could be worth relative to Diamet. I will be adding to my position on any drop in price.
|
