BSR (ASX) Ann: Makabingui Grade Control RC Drilling Update

Originally posted by Interested onlooker ↑

Very happy Raff, didn't expect to be able to pick any more up at these prices.
Methinks gold is in a bit of a short term downswing anyway - most goldies are well down today - and I do not believe BSR will be properly reacting in sync with gold price movements until actually in production - there are other drivers and all will firm back up once, presidential decree, funding, revised feasibility and path to production are released.

This infill drilling had 2 parts to it
1. Determine what to put through the processing plant first for best cashflow.
2 Identify extensions of known mineralisation
This has done both - the extract from the announcement below confirms this means larger resource than previously calculated - as most of us had expected.

"While most of the drilling is infilling previous wider-spaced holes, many are testing the strike and dip extent of high grade zones. The program has confirmed the continuity and tenor of the mineralised structures and when the drilling is complete, the compilation of results will be done"

I am very pleased - a wise geologist friend once told me that the more important issue was defining extension to the structures as you can be six inches away from a decent intersection so though important a 63mm drill bit doesn't give you the whole story - (Mt Isa mines copper discovery was missed by about 3 feet and then not drilled again for nearly 20 years - when the main discovery was made)

This just confirms what Midnight said - there's more gold there - and Bassari will dig it up.

I'm also keen to see what the maiden resource for Konkouto looks like - I remember that Makabingui's maiden resource was 240,000 Ozs so will be interesting to see what comes out in the near future re Konkouto - I will be ecstatic if it's 500,000 like you hoped for Wil - but I know the company only needs it to be over 100,000 ozs to be able to apply for conversion of the permit to the 9 year exploitation permit as Alex advised at last years AGM (forgive me if that's not the right terminology)

Cheers
IO

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At least the experts are happy like yourself

I for one was very worried when they started dumping today

But I take some comfort in your confidence

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