It has been considered for about 4 years now by the company that this area is a potential reservoir for copper with gold, vms type. Early work done at Big Billy in 2013, followed by work at Forrest in 2014 then Wodger more recently has continued to demonstrate that the theory might be correct. All 3 sites are potential vms cu/au/ag and there is a good chance that they were mineralised by the same mineralising event(s) ie there is a common factor.
Until RNI/AUR came along, only gold had been sought by previous explorers. This is where the Fortnum gold plant held sway. Homestake was one such company and yet it found copper (5ms at 1.02% at the end of a hole - ie open at depth) at Big Billy in the early 1980s, but seemingly showed no interest.
Maybe a 10 years ago (guess), Gleneagle Gold found nice gold at Forrest but went no deeper. AUR did and found copper. GG also drilled at Wodger looking for gold but found copper instead, but showed no interest either. Such was the lack of interest in fact that it left the samples on the ground for later explorers to perhaps stumble across or ...... Anyway, enter AUR! Here, read this 27 March 2014 report.
Anyway, the essence of the matter is that AUR is the only explorer to see this F-W-BB area as hosting decent copper. I believe that the only 2 copper hits (accidental I'd say) before AUR came along were the 2 I cited (Homestake at Billy and GG at Wodger). It was all about gold back then, and surface gold too outside the Fortnum precinct. No-one really went deeper than 100ms.
AUR has all of this copper to itself, except for Fe's 20% interest in E52/1659 and E52/1671 as per the above pic. It's virgin copper vms territory, and it's looking good so far! That's why it's so exciting!
AUR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
