page 18 "Agincourt struck almost immediate reward with its new high grade Calais orebody, which is between the East Lode and Bulletin orebodies, both of which host more than one million ounces of gold. Regarded as potentially the most important strike since Bulletin was discovered in the 1990s, Calais was an unexpected find and came less than two months after Agincourt completed a management buyout from former owner Newmont Mining. It is just 100 metres from existing underground workings in an area that was not considered a major target. Managing director Tim Sugden said the discovery would add to reserves and lower overall gold production costs at Wiluna, where gold was first discovered in 1896. Calais includes bonanza zones of 18.5 metres at 26.9 g/t gold. Further drilling results reported in May showed the strike length at Calais exceeded 1000 metres and remained open at the north, south and at depth. More importantly, the orebody appeared to be strengthening in both grade and width towards the previously unexplored southern zone. The latest hits included 65 metres at 4.49 g/t."
AXM Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held