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Ann: James Bay Drilling Delivers Thick High Grade Results, page-28

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Ninja Tuna

2,848 Posts.

994

27/06/17

10:18

Post #: 25508517
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Originally posted by M92 ↑

Progress was much quicker than expected. I was anticipating end of Q3 for results. Nice work to the drilling team.

The grades of ~1.6% are in line with what I would expect for the 30-40m thick intervals - Perfectly supports the initial hypothesis and extension for the DFS. The rest of the super high grade intervals of 3-4% are only 1-2m thick, so these will not really be bringing up the average grade significantly. Nice to have though as it shows potential which they may follow up at a later date.

The key for me is the fact that the DFS was only based on 14.5km of drilling which proved up ~23MT.

The new drilling campaign has drilled through a much high meterage, AND it has discovered two large pegmatites of 38m and 42m thick which should gather new interest in the project. Keep in mind these two undiscovered zones are on top of what they knew existed (highlighted pre-drilling), but they had not drilled (i.e they were not previously known to exist). Those are thick intercepts too.

Hoping to see a nice boost to the proven reserves and improved economics with the updated DFS.

Come on GXY-NMX...Now line up that converter.

M92

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Yes was expecting results at end of year but came out much quicker and more concentrated than I thought

GXY Price at posting: $1.68 Sentiment: Buy Disclosure: Held
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