I don't understand why is everyone worried about GOA?
From the drilling results to date, Mr Macnab can drill in spacings according to JORC compliance and build up a 4-5million ounce deposit from the two shallow nee <600m deep gold mineralisations in Crater Mountain over the next 6-9 months.
But what he is looking for is a deep seated gold mineralization where he believes all this shallow gold originates from. The fact that other large gold deposits had gold >1000m deep, think Wafi-Golpu down 1.3kms for a total resource of 45million ounces of gold.
don't forget that the resource at the existing Wafi Golpu was only 28-30million ounces based on depths of 800m. But there was a gap where no gold was found between this known mineralization and the deep seated mineralization they just found after 20 years of mining and drilling there of approx 150-200m. The deep seated mineralization was below this depth. Mr Macnab believes this may be the case at Crater Mountain hence his 1000-1200m drilling campaign which is about to begin.
Be patient guys, either way we have a nice 4-5million ounce deposit, where non of this resource is valued in GOA's Mkt Cap, since its not JORC compliant yet. By June/July 2012, it should be! :)
Cheers Nectar
GOA Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held
