drill results, page-3

Hi Gator.

The answer to your question is no, because they intersected large thicknesses of weathered gabbro and only limited fresh gabbro due to limitations in the RC rig's capabilities.

It was discussed here: https://hotcopper.com.au/threads/ann-investor-presentation.3993154/page-136?post_id=30907885

...but I'll try again to recap on a few points:

The grades in the weathered gabbro could be patchy but VHG mineralisation is widespread in the fresh gabbro and there's that layer(s?) of coarse gold at the base of the weathered zone that the garimpeiros have been mining.

BBX are busy making very sure that SGS get it right. Everything to date has been a partial extraction. We could get some awesome numbers when they finally manage to succeed with full extraction.

There are 2 main processes involved in the huge variations in the assayed\extracted grades to date:-

- the grade in the gabbro is persistently high and the lower grade results are due to poor performance of the extraction method; and

- the grades in the gabbro are variable and the lower grade results are due to lower grade gabbro in individual samples.

Of course it's a mix of the two processes, but I believe the poor performance of the extraction method is responsible for most of the variation. This is evidenced in the ANN from 14/08/17. Small variations in the extraction process for the same sample gave very different results. Perfect extraction means extracting 100% of the gold from a sample and we haven't achieved that yet, so Test 2 is probably getting close to 100% extraction but the others might have been at 5-15% extraction efficiency. (Nugget effect is assumed to be negligible due to the v. fine gold particle size). They have also said previously that visual signs of mineralisation in the fresh gabbro are persistent and widespread.



So I think IMHO that assay results from the fresh gabbro could be around the 50-400g/t Au if you include natural variation in the grade (50g/t is lowball) and if you add in the PGM and Ag the AuEq grade could increase by 1-3oz Au (30-90g/t Au).

The coarse gold layer has resulted from leaching of up to ~50m of gabbro and subsequent deposition of that gold in an enriched layer at the base of the weathered zone, so it could contain 4 figure grades over a limited thickness (1-4m) but remnant mineralisation could remain in the shallower weathered gabbro.

I’d be silly to have a stab at intersection grades and thicknesses but I’m sure they’re going to be impressive since we’re drilling the same body of gabbro that we’ve already sampled on the surface.