Ann: Diamond Drilling Confirms and Extends High Grade Gold, page-6

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estate09

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30/01/17

15:15

Post #: 22220135
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Originally posted by eshmun ↑

This is not altogether bad news.

BOD is proving a little tough because it has limited strike extent so when you aggregate the high grade components of the deposit the tonnage is not going to mount up very fast, the lower grade parts of the deposit are a different story but may not help contribute much to a mineable resource. They have proved some decent depth continuity (50m down dip in one hole) but they really need some more of those wider intersections to start making it look sexy.

It looks like the existing resource at Lena started with a much longer strike length and the fact that you can drill through all four interpreted loads with the same drill hole seems encouraging to me. They'll likely start testing Lena again now to expand that resource. Anytime a company keeps drilling holes in a proven high grade gold system like this there is a chance of coming up with a company making intersection or two. At the moment it's just workman like drilling that will go towards redefining their gold resources. Whether those resources prove attractive enough to be mineable is another question. Let's give it a fifty fifty chance at the moment unless someone else can give a convincing arguement why those odds should be significantly higher or lower. Esh

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E missed that in the announcement. Intersecting all 4 lodes. Lena is already jorced at 76,000 ounces (correct) and for once Rob is intimating increasing grades at depth.

MGV Price at posting: 7.0¢ Sentiment: Hold Disclosure: Held
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Ann: Diamond Drilling Confirms and Extends High Grade Gold, page-6

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Chaos reigns markets – so let's take stock of where we're at ahead of December