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HWP-901 Test 1, page-2

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flyingace

225 Posts.

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14/10/19

14:28

Post #: 37917837
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Originally posted by flyingace: ↑

The good thing is RJ that you do not have to have visible gold for the grades to be a cracker(e.g. J 3-7) as with the last result-J 1. In other wordsthe intercept with the highest grade did not have visible gold!.This is due to the nature of the deposit.

For instance if you look at Juruena at Dona Maria it has been estimated using Crusaders figures that 70% of the gold is in the pyrite. This is particularly so when you drill into the unoxidised layer.At the top is the oxidised layer where gold exists as free gold and milled gold(gold that can be separated with crushing and gravity separation). This is the gold the Garimpeiros were only able to access(in the first 25 metres) because for gold to be liberated from pyrite(unoxidised layers) you need cyanide treatment. This is what Tunks is so excited about-being able to access this type of gold. Of course there may also be free gold in these layers, but the point is and the moral is-you do not have to have visible gold to strike bonanza gold for it can be in dispersed pyrite.

To prove this in the last bonanza grade announcement the highest grade intercept was in the intervals WITHOUT visible gold.There was no visible gold in the highest grade intercept, from107.47 to 111.12. So just because there is visible gold('The hole was
completed to a final depth of 143.53mand intersected significant visible gold at 112.8m downhole'), as in visible gold between the interval of112.5 and 112.85does not necessarily qualify for the indication of a high grade intercept!

See below.

Considerations

1.What the market needs to understand is that while yes visible gold is an indicator of gold it is not the whole story. It is the grades in the intercept which may not be due to visible gold but gold trapped in pyrite. In other words you do not have to see visible gold to have great grades. Therefore do not discount bonanza grades in J 3-7.

2. Increasing the JORC at Juruena will be two fold in my opinion, and this is standard-drilling close to original holes as they will be endeavouring to increase more resource from the inferred into the indicated category. Secondly, they will be drilling poorly tested and likely targets e.g. J-8 to further expand the resource. (find new strikes) as in-“We have now completed eight holesand are testing some deeper targets beneath Dona Maria that are very exciting!"-go here

2. It is thought that the widths at Novo Astro may be in the 10's of metres. Now if that is so it points that Novo Astro's deposit may be very large. So in this case grade is not as important.So. for example, compare20m@90g/t Auvs100m@20g/t Au. The latter is of a lower grade but much greater tonnages due to width. Either way you cannot lose when the deposit is big! which makes this an exciting prospect indeed!

As an example the largest gold deposit in the world is the Grasberg porphyry copper-gold deposit which is oflow grade!

AIMO

S.P.

This Week:

Very exciting with the trading halt an indicator of significant assay results. They could be anything, and then it is possible we get news from Novo as in visible gold...In other words it is quite possible traders could get caught with their pants down and the potential for 10c before Christmas will come sooner than later.

Further into our Maiden Drilling Campaign:

If Novo shows the potential that many expect and we see similar bonanza grades to Juruena and/or large intercepts of low or high grade as explained above the sky could be the limit....then we are talking about potentially large tonnages and the SP could become anything. This could spark interest from majors(potential for a large deposit).......meaning they may want to complete our job-drill this out and define fully the resource and Take Over with a view to mine...alternatively we fully drill this out establishing a potential massive JORC and mine ourselves, or TO at completion of resource definition(JORC).

ALL scenarios mean exciting times ahead for MEI holders!.

AIMO

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HOT Price at posting: 17.0¢ Sentiment: None Disclosure: Not Held
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