This is a well established exploration strategy that leverages geological similarities to Cadia. For people who do not know In FY23, Cadia produced 597 koz of gold. This level of production places Cadia among the top gold-producing mines globally. For context, many successful gold mines produce between 100,000 to 300,000 ounces annually.
The Spur Project (EL5238) is located 14km west from Newcrest Mining’s Cadia Valley Operations (32.1Moz Au, 7.2Mt Cu)
High Preservation Potential: Indicated by the presence of lithocap, red rock, and skarn. Economic Viability: Enhanced by shallow gold deposits and proximity to mining infrastructure. Significant Drill Results: Supporting the potential for substantial mineral discoveries. Systematic Exploration Strategy: Based on proven geological models and methods discussed by Duerden.
Could be onto something huge here, potentially billions..
WTM Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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