800ms to the south of the current deposit, they come up with visible gold in a trenched sample of a vein which outcrops over 400ms and then extends under cover. We don’t know what the grade is yet or like Darren said, how much of the vein is mineralised, but this has to open up the prospectivity of Old Pirate immensely. I am very happy to see visible gold extended that far south. Remember also there was a high grade drill hole hit 1km to the north of the deposit as well (1m at over 30g/t) which hasn’t been followed up since, I assume because they did not have an outcropping vein to follow so the priority was the area of the current resource. That does not necessarily limit the potential extension to the north beyond that hole either. We now have known mineralised veins extending over a strike length of around 2.5kms and open in all directions. There are large gaps over that distance to fill in but that’s a good thing because it gives us so much more potential upside to add ounces to the jorc. I was only looking for a 50% increase in the jorc as a base case, and that is starting to look to me like it will be easily surpassed. Knowing we have visible gold that far south, increases the potential scale of this deposit way beyond any 50-100% increase. One step at a time, but I like each step that I see. If this proves to be an ore grade vein that far south it may be more significant than the recently discovered 31g/t vein because it opens up the potential overall size of the deposit so much more.
ABU Price at posting:
3.8¢ Sentiment: Buy Disclosure: Held
