Driling has commenced and were at 90 metres yesterday.
Incidentally, gold indexes in the US were up:
XAU up 1.5%
HUI up 2.46%
AUD gold up $6.67 to AUD $864
Borthanna:
The good stuff starts at 220 metres down. They should get to the 220 metre level in the next 3 days. Then another drill rig comes in and drills a diamond tip drill hole down to the 525 metre target depth.
Normally copper/gold combination is found in a haematite breccia complex.( gold in haematite is not visible to the naked eye) Deeper down the ore body tends to produce copper in greater abundance in a rock called chalcopyrite, even greater copper grades in Chalcocite and the good grades in bornite.
This is what we are hoping for here at Borthanna. I have been told that the copper bearing rock are visible to the naked eye and they can usually tell the copper grade just from looking at the drill core. I think that if they keep finding copper/gold below the 525 metre level, drilling will continue until the rock type changes. In this part of the world, uranium can also be found in these rock types.
Hope I haven't written a lot of garbage, if someone can correct the above, would be happy with the feedback.
In similar discoveries such as Prominent Hill, the initial discovery caused the share price to move from 15 cents to $1.50 on the day of the announcement. Subsequently the stock went to over $3 per share.
I don't to get your hopes up, the success rate has been put at 5%. However, if we are lucky enough to get copper/gold/uranium, then you could be looking at a $2 company in the near future.
Good luck
Kojasper
IGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
