Why no announcement from ARV?, page-39

I was curious about this too and decided to take a closer look at Purdeys Reward sampling and wanted to better understand why the gold is so coarse - very unlike Witwatersrand which is almost always very fine gold. The ARV announcement has an image that shows the nuggets align along creeks through the conglomerate zone. That indicates a secondary more recent enrichment that appears to be re cemented - which can happen. I ran my own software imaging at Purdy's and reproduced their air photo images and added their features.
It confirmed the nuggets were along drainages and there are no results of systematic rock chip channel sampling across the exposed conglomerates that from a ENE trending watershed so exposure must be adequate along that watershed. It appears the nugget gold is restricted to these creeks which is not uncommon. I expect the main conglomerate does have some finer gold but at much reduced levels - maybe more like the earlier Novo results within the Beatons conglomerate elsewhere their announced with over 8m tonnes at 1.47 g/t. Or maybe lower grade at Purdy's, systematic channel sampling away from creeks should tell more. It might surprise to know the Beatons Creek Conglomerate produced 25 small diamonds from 230 tonnes of conglomerate in 1895 but although good quality they are too small and scattered. Graham Hutton chased it up but concluded the source must have eroded away during the Archean so I decided against repeating that work.

The ARV announcement about Mt Oscar/Wits is also of significance but the rock chip results lack description such as sample widths and the style of gold within them (easy to crush and pan off and see under a microscope) but not discussed. Describing the water melon shaped nuggets as typical of Witwatersrand is another issue since such grains at Witwatersrand are tiny (typically 0.04mm) - never even close to the nugget size from Purdy's Reward.

The current $3m capital raise at 12.66 cents against a current 15 cents share price suggests ARV might think it's better to say less than more for now. Let's hope they make a success of it but a 60 mill market cap, seems a bit high.