We seem to be getting ahead of ourselves here. With gold, its either there or its not. And its there! However you must be careful with presuming that high surface gold content equals high subsurface gold.
Supergene enrichment of an ore deposit (in this case gold) is when the resource is upgraded close to the surface due to the to the water table rising and falling over millenia. It tends to increase grades at (relatively) shallow depths. Even surface grades. Still, the gold had to come from somewhere, and elemental gold (if it is) is not a very mobile element.
So until the cores are drilled and assayed there is no way of determining whether its large, small, disseminated, high grade, deep, shallow or something in between from surface assays.
That said, 2g/t lying on the roadside is still economical in anyones language (depending on tonnages).
I would like to know how the gold was found in the surface samples. Is it native, oxide, within fine grained sulphides (most likely) and what minerals in particular, associated with Pb/Cu/Ag, grain boundary, nuggety, telluridic, associated with any carbonaceous shale? Is there a way to find this out? All are important questions, the biggest of which is the shareholders frank "Is there lots and lots and lots of it?"
Personally, I hope its a monster El Dorado Lasseter gold Uluru lying 10m under the topsoil.
Long term holder.
CVI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
