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1,399 Posts.

13/08/18

10:53

Post #: 34893675
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Originally posted by eshmun ↑

Yes, interesting new drill result to the south just where we need it (plenty of ground on the tenement to the south).

Also more hits to the north

"Drill hole RCLR0244 on Section 6641460N located 50m northeast of Jennifer Lode (Figure 3) has intersected a significant sulphidic alteration zone containing 29m @ 3.10g/t Au from 132m. The intercept includes higher grade segments of 5m @ 6.67g/t Au and 9m @ 4.69g/t Au.

Subsequent RC holes (assays pending) ~40m up-dip and down-dip from this intercept have outlined a shallowly west-dipping mineralised surface and indicate the RCLR0244 intercept may be close to true width.

Previously-reported drill hole RCLR0240 on the same section was extended to provide a deeper test but did not intersect significant mineralisation, however resampling of composite samples in the upper part of the hole returned 20m @ 1.37g/t Au from 80m. This result supports an adjoining 19m @ 1.15g/t Au interval in historical drill hole RCLR0158.

The gold zone intersected in RCLR0244 sits well to the east of the interpreted trend of Jennifer Lode (Figure 2), and the relationship between this mineralisation and the Jennifer Lode surface is yet to be determined. It may represent a separate mineralised surface.

Results are pending for follow-up RC drill holes in this area."

Also it looks like (from the visuals) that the good intersection from the last announcement will grow up or down dip and there might be a structural off-set further to the north. Hopefully the new results are up dip which could help the economics as the northern end of the deposit is the shallow end.

"Drilling continues at the Jennifer Lode, a significant body of gold mineralisation now defined over an area extending 275m along strike, ~220m vertical and up to 25m true width.

Ongoing RC and diamond drilling has focussed on up-dip and down-dip targets around RCLR0236, a step out hole on Section 6641385N at the northern end of the Lode (Figure 2). RCLR0236 delivered an exceptional intercept of 59m @ 3.22g/t Au from 150m, including a high-grade segment of 28m @ 5.06g/t Au (ASX: AOP 17th July 2018).

A series of follow-up RC and RC/diamond holes have been completed on Section 6641385N, and on step-out Sections 6641410N, 6641435N and 6641460N.

Field observations are that infill drilling on the 6641385N section has intersected zones of alteration and sulphides typical of Jennifer Lode. Observations also suggest there may be a structural dislocation north of 6641410N, with geology becoming shallowly west-dipping north of this Section. Structural logging of core will build the geological picture in this area.

Assay results are pending for a further 13 RC drill holes, and core logging of five diamond tails is underway ahead of processing and assay.

The ongoing 2018 drilling campaign is continuing."

The deposit is growing in size slowly but the best thing I like about it is how consistent the grades are. Often with vein hosted deposits you get patchy grades (now you see them now you don't). The mineralisation in the Rebecca lode is wide and continuous which will help the mining if and when this prospect is ever developed. This company has been a slow burn so far, but a good burn. The grade seems to be there just need to build the size.

The competent person, Nick Castleden, has been on the WA gold scene for a long time. The first time I came across him was when he worked for MPI in the early 1990s (if its the same Nick Castleden). Esh

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AOP Price at posting: 24.0¢ Sentiment: Buy Disclosure: Held
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