re: Ann: TRF: Explains High Grade Exploration...
Onceover, thanks mate. Really good to read your take on this and everyone in the game that I know that has taken a cursory look at this is of your opinion, including me in a general sense.
But I have dug a little deeper. I first thought epithermal too, but it would appear to be a mesothermal origin. The info I've received behind the scenes points to a skarn. Smearing is a valid concern. 17m is a fair bit of that. It is definitely weathered - i.e. clayey. And we don't know what hole 21 looked like. However the fractures riddled through hole 2 and the clearly defined alteration zone in that hole suggest it might be reasonably intact and not that soft, at least for that hole. So for my small bet the assays on that hole will either kill it or keep the dream alive. If that hole does hold up, then the IP might be showing that the weathered mineralisation is sulphides at depth.
Agreed - the perpendicular description is bizarre. All the other question mark issues are bizarre, i.e metal assemblage, blue horizon, XRF commentary etc, etc. The rush to grab $3.5m is also bizarre, as is the ridiculous ramping. IMO, the MD is a toss to come back at my perhaps abrasive line of enquiry to test validity with his ongoing retort that I am a conspiracy theorist.
Onceover you wrote:
"Geologically, none of it stacks up as a big discovery to me at all, and I have been following it for a few months now, ever since someone put it across my desk with the suggestion that it really was the next big thing."
Well I threw a few peanuts at it on announcement day and then that is exactly what happened to me. A partner asked for a good look. Has it passed due diligence? Well, of course not. But I have enough info from MP that if my nuts are toasted then theirs will be too.
And I agree OO, that the gold thing is nothing worth bothering with from a punters' POV. However, they do have geos on site that should know what they are doing and Hole 2 looks OK for my mind. So IMO, the jury is still out, but it would be risky to load up now beyond a small bet.
OGX Price at posting:
19.3¢ Sentiment: Hold Disclosure: Held
