G'day Towie. One more step!!!! The way I see it, as they haven't got the full ILUA (hopefully tomorrow will approve that that can be formalized) they are still working on the original agreement with the TOs to explore the land for gold and not to mine it.This is what LNY said "Results from this program will also enable greater definition of near surface(less than 30m) high grade gold zones at Sherwood which will be incorporated into initial grade controlmining block definition and also provide confirmation of sterilisation areas for the planned waste dump."
They only want to test the shallow part which is similar to that which forms the agreement with Maroon and which they believe (hope) has the same high grades getting them up to much of the 8-11gt.
The "bonanza" zone, if it exists, is much deeper and would constitute a mining operation with a MUCH lower grade getting down to that level and as such, wouldn't be suitable for the current Maroon agreement from which LNY aims to get their fastest and highest return in the "high grade subset" in that 100,000 tonnes. I anticipate that LNY and Maroon would be happy to negotiate a new agreement on new terms after that 100,000 tonnes is complete and both are in a position to assess the outcome. If, as they expect, the shallow area does contain a consistent high grade, that new 51 holes, if similarly successful, would make it easier for new deals to be arranged as the relevant areas in question would be much better defined.
Now, when will WE be told the results of tomorrow's TO's meeting??
They've only
