With the VWAP yesterday at 28 cents on heavy buying.. I think we can expect the same today.. my friend a geo reckons that the results of:
8m @ 2.0 g/t Au from 21m (including 1m @ 5.6 g/t Au); - 5m @ 34.0 g/t Au from 34m (including 1m @ 118.2 g/t Au & 1m @ 16.1 g/t Au); and - 7m @ 5.5 g/t Au from 113m (including 1m @ 15.4 g/t Au).
are excellent for initial drills...
The Hermes Gold Project also already includes the existing JORC-compliant, open pittable, indicated resource of 1.7Mt @ 2.4g/t gold, equating to 131,000 ounces of contained gold. The drilling results will provide Alchemy with the impetus to accelerate development of the known deposits and incorporate the recent drilling data into a re-estimation of the JORC-compliant indicated resource.
What needs to be remembered is drilling only started a month ago and these results are already out..
The project is also located right in between Peak Hill and Barrack Golds Plutonic mine which is in production.
interested to hear other thoughts...
ALY Price at posting:
31.7¢ Sentiment: Buy Disclosure: Held
