Ann: Exploration Results - Lorena Gold Project, page-3

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02/01/19

10:50

Post #: 37000783
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Originally posted by eastwest101: ↑

Time to check in on the performance of the troublesome MAR part of the portfolio, after the almost total lack of information on the grade control performance at Lorena we can now see that the three deep "exploration" holes - we can see that hole 124 which was testing the EM anomaly was abandonned, hole 125 came up with 12m of very low grade Au and the deepest down plunge hole 126 came up with nothing at all.

View attachment 1399891

When you look at the "cartoon long section" you can see that they were testing a fair way down dip in areas that wouldn't be likely to be open-pittable anyway. Looks to be a case of "shotin for the moon" rather than picking up additional potential ore that could be mined in 2019 or 2020. Given the paucity of any drill coverage testing that long section below the 150m depth, the fact that hole 92 did demonstrate some potential and the fact that the EM conductor still hasn't been tested at all, I think they are giving up way too easily and should have been testing with a few more drill holes between the 150m and 200m below surface, where they have a chance of picking up something that may be at open pit depth (albeit with a cutback).

Anyone else agree with that asessment?

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The need a change of board and a new asset. Fire them all

MAR Price at posting: 0.1¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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Ann: Exploration Results - Lorena Gold Project, page-3

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