After reading the MiningNews article on GLN and the Clive comments I'm getting a better idea of the phrase "fast-track" that he mentioned and many juniors throw around but, never follow up on.
Everything about GLN is it's potential JORC size.
We (sorry, I a nd a few others) know it's going to be big but, GLN needs to prove it to the market.
The RE-rate is there...just sitting there...200-300M MC
So Clive's comments make more sense now.
GLN is well funded for it's 5 drill holes and to hire someone to do a maiden JORC with some change left over. Great.
A maiden JORC's can be done with a just a few holes (and other data) depends on WHO's doing the JORC and their reputation.
So as I'm understanding this...GLN is NOW going to drill the crap out of Candelas and fast...
The second DRILL RIG is NEW info...not worthy of a ASX update but, in the context of what we know and are expecting...it's BIG news.
Galan is planning to fast-track exploration at Candelas by bringing in a second drill rig, with an eye to delivering a maiden resource in the September quarter.
So instead of drilling 5 holes and just getting a 1.-1.5M JORC...
they are getting NEW drilling applications in NOW, to extend drilling further.
They are going to drill the poop out of it.
If your going to raise a few bucks extra...that's what I want it for.
The..."with an eye to delivering a maiden resource in the September quarter." comment ...
Is interesting, GLN were on coarse for that with the 1 rig...however now IF they can get 2 rigs going and drill a lot more than 5 holes. (hopefully to the south) . Maybe 10-15 in total now?
Combine THOSE drilling results with the GEO results. I think SRK (looks like they are doing the JORC) are going to be more inclined to assign a bigger number. 2M+ ?
SRK Consulting are one of the top companies in JORCs and may have the most experience in BRINE.
SRK Consulting know there stuff Re-Lithium and brine...
https://www.srk.com.au/sites/default/files/SRK_AU_Lithium_Brines_Presentation_-_August_2016.pdf
I just spent a hr on their website...I think they might know what there are doing...
https://www.asia-pacific.srk.com/en/team
Wow! more PhDs than a hospital!
So it looks like that MiningNews story had some juicy nuggets...almost better than a ASX update?
(Of note: The strong buying near the close came on about 1 hr after the online article was released)
-JP presenting at RIU today...
-More drilling updates coming...
-Candelas X news floating around...
-2nd drill rig coming...
-Additional drilling permits being applied for...
-Mgmt. aiming for a FAST TRACK JORC by Sept Qtr...
Almost makes one think GLN might be undervalued?
IMO
DYOR!
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