Gram-metres (g·m) is equivalent grade multiplied by intercept width. It is the standard junior-mining shorthand for ranking the significance of a drill intercept: a 1 g/t × 12 m result and a 6 g/t × 2 m result both equal 12 g·m, so they carry comparable in-situ metal content.

What does dollar-per-tonne mean?

Dollar-per-tonne is the gross dollar value of one tonne of rock at current spot prices, before any recovery, mining, or processing cost. A real mine recovers 60-95% of the in-situ metal depending on metallurgy, so dollar-per-tonne is an upper-bound rock value, not a mineable value.

What is a notable intercept?

On Strikepoint News, a notable intercept is any approved drill row whose gram-metres figure clears the 100 g·m threshold and is in the top decile for its metal class. The number is informational — not every notable hole is economic, and not every economic hole hits the threshold.

How are polymetallic equivalent grades computed?

Each metal grade is converted to dollar-per-tonne using its unit-appropriate conversion (troy ounces per gram for precious metals, pounds per tonne for $/lb base metals, etc.). The dollar values are summed and divided back through the target metal's conversion to express the total as a single equivalent grade (e.g. AuEq in g/t).

What units does the calculator accept?

Grade units follow industry convention: precious metals (Au, Ag, Pt, Pd, Rh, Ga) are entered in g/t; base metals, lithium, cobalt, molybdenum, uranium, and iron ore are entered in %. The unit is shown next to every input. Width is always entered in metres.

Where do the live spot prices come from?

Metals prices are pulled from Metals-API; energy reference prices come from Alpha Vantage. Prices refresh hourly. Each editable cell shows a green dot when live; a grey or amber dot indicates a cached or seed value that you should verify against Kitco or LME before relying on the output.

Does the calculator account for recovery, mining cost, or royalties?

The headline total value per tonne is gross in-situ rock value, before costs. The calculator also shows a residual (net realizable) value that applies an editable recovery percentage and operating cost per tonne — default 90% recovery for precious metals, 85% for base metals, and $40/t cost. Royalties and deposit-specific metallurgy are not modelled, so always read the original NI 43-101 or JORC report before drawing economic conclusions.

What is the nugget value on a drill result?

The nugget is the share of an intercept's total rock value that comes from precious metals — gold, silver, platinum, palladium, and rhodium. It is shown as a dollar figure and a percentage, so a trader can tell at a glance whether a polymetallic hit is genuinely a precious-metals story or base metals dressed up by a high gold price.

What is residual (net realizable) value?

Residual value estimates what a tonne of rock is worth after recovery losses and operating cost, rather than the gross spot value of the contained metal. It equals recovered metal value minus operating cost per tonne, floored at zero. Recovery and cost are editable assumptions, not a deposit-specific study.

Intercept value

Drill Calculator

Translate any polymetallic drill intercept into a dollar value per tonne. Live spot prices across 18 metals — adjust any input, switch currency, and read the precious-metal share (nugget) and net realizable value (residual).

Loaded from IAU · iAU26-23 drill result — edit any value to model your own scenario.

Spot Prices (editable)

Gold$/oz

Silver$/oz

Platinum$/oz

Palladium$/oz

Rhodium$/oz

Copper$/lb

Zinc$/lb

Nickel$/lb

Lead$/lb

Antimony$/lb

Tungsten$/kg

Lithium$/lb

Tin$/lb

Cobalt$/lb

Molybdenum$/lb

Uranium$/lb

Iron Ore$/tonne

Gallium$/kg

Display currency:

Enter Drill Intercept

Width (metres)

Goldg/t

Silverg/t

Platinumg/t

Palladiumg/t

Rhodiumg/t

Copper%

Zinc%

Nickel%

Lead%

Antimony%

Tungsten%

Lithium%

Tin%

Cobalt%

Molybdenum%

Uranium%

Iron Ore%

Galliumg/t

Estimate — Mo is thinly traded on LME. Industry valuations typically use Platts/Argus dealer oxide prices, which may differ from generic spot.

Recovery & Costs (editable assumption)

Used for residual (net) value below. Defaults are industry starting points — override for your deposit.

Recovery (%)

Operating cost (USD/t)

Total Value Per Tonne

$265.56

across 15.5 metres

Nugget — precious-metal value

$265.56 /t

100% of total value · base metals $0.00/t

Residual — net realizable value

$199.01 /t

gross $265.56 → recovered $239.01 − cost $40.00

100.0%$265.56/t

Equivalent Grades

Metal	Input Grade	$/tonne	Eq. Grade	Gram-m
Gold	2.8 g/t	$265.56	2.800 g/t	43.4
Silver	—	$0.00	246.567 g/t	3,821.8
Platinum	—	$0.00	8.386 g/t	130.0
Palladium	—	$0.00	8.515 g/t	132.0
Rhodium	—	$0.00	0.828 g/t	12.8
Copper	—	$0.00	2.591 %	40.2
Zinc	—	$0.00	9.411 %	145.9
Nickel	—	$0.00	1.617 %	25.1
Lead	—	$0.00	12.292 %	190.5
Antimony	—	$0.00	1.194 %	18.5
Tungsten	—	$0.00	0.074 %	1.2
Lithium	—	$0.00	0.964 %	14.9
Tin	—	$0.00	0.584 %	9.1
Cobalt	—	$0.00	0.762 %	11.8
Molybdenum	—	$0.00	0.602 %	9.3
Uranium	—	$0.00	0.140 %	2.2
Iron Ore	—	$0.00	238.646 %	3,699.0
Gallium	—	$0.00	936.242 g/t	14,511.7
Total		$265.56

What-If Tonnage Explorer

A back-of-the-envelope estimate — not a mineral resource.

This is not a mineral resource estimate. This tool produces a rough, back-of-the-envelope figure from the dimensions, density, grade and mineralization you enter. It is not NI 43-101 compliant and was not prepared or reviewed by a Qualified Person. Any output is conceptual in nature; real deposits are irregular and grade varies, so actual contained metal may differ materially or be zero. Do not rely on these figures for investment decisions — always refer to the issuer’s NI 43-101 technical report.

Strike length (m)Width (m)Depth (m)Density (t/m³)Mineralized (%)Metal + grade (g/t)

Gross tonnage: 270 Mt
Mineralized tonnage: 135 Mt
Contained Au (conceptual): 12.15 Moz
In-situ value (USD, conceptual): $35.9B

How to read this

Total value per tonne — the gross dollar value of the rock at current spot prices, before any recovery, mining, or processing cost. A real mine recovers 60–95% depending on metallurgy.
Nugget — the share of total value from precious metals (gold, silver, platinum, palladium, rhodium). Tells you whether it's really a precious-metals story or base metals dressed up by a high gold price.
Residual (net realizable) value — what's left after recovery and operating cost. Edit recovery % and cost per tonne to model your own deposit; this is the "real value," not the gross.
Equivalent grades — what the same total value looks like expressed as a single metal. Useful to compare polymetallic intercepts against a single-metal benchmark (e.g. AuEq, CuEq).
Gram-metres — equivalent grade × width. The standard junior-mining shorthand for intercept significance.
Spot prices are editable — override any number to model your own price deck. Live prices refresh hourly via Metals-API.

This calculator is for informational purposes only. It does not constitute investment advice or a valuation of any specific deposit, project, or company. Recovery rates, mining costs, processing costs, royalties, and metallurgy vary by deposit — residual value uses editable assumptions, not a deposit-specific study. Always read the original NI 43-101 or JORC report before drawing conclusions about a drill result.