This 'discovery' would only have been made by AUR if it had drilled up there; but why would it have done that? There is nothing to indicate that there is mineralisation there - nothing on the surface, nothing on the VTEM. There was however evidence of possible vms mineralisation to the east of drilled Citra which is about 4kms SW of this new hot spot. The 22/2/16 ann said this:
However, field mapping around the drilling area identified a number of jasperoidal cherts several hundred metres to the east of the drilling that are indicative of exhalative processes (VHMS forming ). This prospect will be reviewed and future work programs will be planned to assess the area further to the east.
The 23/12/15 ann said this in respect of a photo:
Jasperoidal chert and magnetite from the Citra Prospect. Evidence of hydrothermal fluids exhaling on to the sea floor, which is a prime marker horizon for VHMS deposits both globally and within the Bryah Basin.
So far as I can tell, that planned work did not happen - too many other prospective sites I suppose.
Shannan Bamforth and his team from SFR would have examined the Citra data though I'm sure. They would have had an understanding of what was at Homestead and surrounds. Their recent AC drilling went in the direction of Citra.
Is there a geological connection between the new hot spot and where the cherts etc were found? However, let's see what the RC drilling comes up with first before thinking about trying to answer that teasing question.
AUR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
