Ann: Diamond Drilling Confirms Significant Gold Discovery, page-17

This is a discovery that is going to generate lots of interest IMO.  Already has with a degree of controversy which is appropriate with the amount of information available at present.

RRL's Garden Well discovery in 2010 came to mind as having some similarities with the initial drill spacing and results.  There was at GW obvious potential for a deposit of significant size and that was ultimately the result.  Grade and economics at GW have been somewhat more problematic hence my use of it as an example which is one way to look at this type of announcement.

I haven't done the calculations but Undaunted's 0.35g/t Au for the core outside the high grade zone is probably correct.  To state 242m @ 1 g/t is mathematically correct but ultimately it is economics that will be the major determinant of whether it is mineable which is where squanski's post is pertinent.  

The economics of mining in Australia is something that could be the topic of a major discussion.  From a gut level I feel that the Canadians and Americans, in particular, seem to be able to mine more efficiently in the lower grade environment. I couldn't really back this statement up with solid evidence, if at all, quickly.  

• Royal Nickel - 0.1-0.2% Ni deposit,
• from memory <5% base metals underground.  
• There is Kinross's Paracatu  gold mine in Brazil where the grade is <=0.5 g/t - large, highly fractured so that mining costs were minimal = economic.

• I googled low cost gold mines and the results show that attitudes to low grade deposits has changed over the years.

  Partly metallurgical - heap leach for low grade but hard rock have been getting in on the act more as technology changes.

  Nevada.

  Porphyry Cu/Au how low can they go and implications to Au only?

These the tip of a controversial topic which would be off topic other than in the context of could MGV's 2018 discoveries be economic.

From a West Australian perspective the location of the drilling on salt Lake Austin represents one of the last frontiers of exploration that has been put in the too hard basket.  

Western Mining started looking at ?magnetic anomalies in Lake Lefroy some 30+ years ago and built causeways out on the lake.  5 ?10Moz Au later and their successor are still searching and finding more (Invincible).  Not an easy environment to explore but what potential does the above map show if they are getting 30+m intersections at widely spaced targets?

Look forward to Eshmun's take.