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estate09

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01/09/18

19:32

Post #: 35351582
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Originally posted by eshmun ↑

I don’t think there is necessarily any very strong geological evidence. Another poster has mentioned the possibility of supergene enrichment being responsible for the high grades. The high grades in the drill cross-section are shown as occurring below a line the compamy interprets to be the top of fresh rock so based on that the high grade intersections occur in fresh rock which might bode well for finding similar grades in the fresh rock beneath.

At the same time if the gold is related to fracture zones due to stress fields deriving from competency differences between the tonalite and the mafic host rock then supergene effects might extend deeper in the fracture zones as water has more ability to perculte down, taking metals with it, in these zones, meaning supergene processes might still explain the high grades.

In my opinion it’s probably more likely that even if the grade persists it will be over smaller widths, so instead of seeing 42m at 3.2g/t the grades will be more concentrated as the supergene tends to “spread” the grade out. The primary ore zone in my opinion might be narrower but there is nothing stoppping it carrying high grade IMO.

I’d say it will be a very positive next step if the grade (and some decent width) is confirmed in the fresh rock at depth. Then the next step is to see some good strike continuity.

The fact we have this first good result with the bigger rig is a very positive start IMO. We could have just drilled up a duster with this hole or a hole with limited potential. This hole opens up some potential for future success and a bit of luck needs to come to work on the prospect now. Esh

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Great explanation E
Over the next week as the days tick by it would be interesting to see some chart analysis on MGV.

MGV Price at posting: 7.2¢ Sentiment: Buy Disclosure: Held
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Nice Hit, page-24

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