Ann: Encouraging Stage One drilling results at Great Western, page-12

 GWRC0109 - 4m at 2.70g/t Au from 73m inc. 1m at 6.72g/t from 74m
 GWRC0110 - 8m at 2.35g/t Au from 93m inc. 1m at 5.1g/t from 100m
 GWRC0112 - 2m at 3.56g/t Au from 90m inc. 1m at 5.5g/t from 90m​

 GWRC0115 - 1m at 11g/t Au from 139m
Strike length (max 8m) is not huge - Grades are ok.
Depth may be of concern i.e open pit. It then becomes a case of if it is viable via U/G.
Planned U/G is 194,000T @ 6.75g/t. Grade is good - But is it viable? not huge tonnage by any means, economy of scale could be an issue. The new Jorc will add to this figure though. My opinion is that they need more to make U/G a profitable option.
Finding shallower strikes/mineralisation would be preferable - open pit cheaper and more productive.
2004 Jorc only has 53k oz Au (combined open pit & U/G) - any addition to that will be welcomed. In fact, I'd say they need to increase this dramatically.
Minimal CAPEX and Toll options available - need more info around the details of this. Is it viable at current gold price? who knows.

Once the Jorc is updated we will have a better understanding of the drill results.

Next round of drilling needs to be good, all indicators say it should be.

Thoughts?