The Fiji asset is truely interesting. The company found a copper outcrop recently (and announced to ASX) which was previously unknown. The area however has been host to some very rich copper dykes which were extracted years ago. The rock chip samples which were recently announced to ASX had mind blowing copper grades with gold included.
However its the new areomagnetics they ran using a helicopter wich has thrown up an answer to one of the great mysteries. The 500K - 1Mil oz Tuvatu deposit which is owned by Emporer sits on 25% of the gold province (AMG owns the other 75% of the gold province but little work had been done until recently on AMG's ground). The questions is "does the Tuvatu orebody run into AMG's property" and if so, at what angle.
To date the small amount of exploration work had focused on the direction that was considered the most likely but this was based on old areomagnets and very little exploration work.
After the new areomagnetics were run, a huge potassium image was thrown up in a dfferent direction!
Every gold discovery in Fiji has a potassium indicator on the areomagnetics, so its considered a hell of a tell tail sign.
AMG will be turning this and the copper outcrop into swiss cheese as soon as it can get a diamond drill rig there. These are stand up ready to go diamond drill targets.
The grade that runds through neighbouring Tuvatu runs a a very very tidy 8g/t so this area is highly prospective.
Is it possible to consider that Alcaston could deliver two signicant gold/copper discoveries at 2 locations over 3 months? Its too much, its can't happen or can it?
AMG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
