My thoughts on today's announcement:
-
“Several holes were terminated in mineralization due to water flows. These holes will be completed with diamond coring in the coming weeks, now that a second drill rig is on site and able to extend the holes though the whole target zone.” -
Todays announcement, page 5
“Geological logging of two holes shows large intersections of spodumene-bearing pegmatite (26–143m – end of hole for
>117m of pegmatite in hole GMRC174). The hole was abandoned in pegmatite due to water flow issues impeding further progress.” –
21st Nov Announcement, page 1
I was hoping to get these two assays in today but clearly they are not ready as yet and will flow through in the coming weeks.
A question I did have after the prior announcement was if this 117m+ intercept would be continued and I guess that’s been answered today (underlined above).
-Reading the prior announcement it was clear that hole #GMRC174 was unlikely to have extensive weathering. This was explained in the prior announcement and I’ve highlighted this in a previous post of mine #
29508335.
Well today we got pics!
View attachment 885272
Methodology:
If I take the 2 adjoining dikes at Danaya section 1254100mN you can see GMRC174 dive down to 143m less 117m for the hit, meaning the result starts from 26m down.
Then thrown down a purple marker line right below the drill hole to measure the hit (26m to 143m = 117m). Copy that marker line and paste it down again, without adjusting its length or angle and add it to the bottom of the original line/rc hole. I’ve thrown in a blue arrow where you can see the copy of that purple line added to the bottom of the original.
Then throw down some red lines to indicate where these dykes might extend to so I have an idea where this GMRC174 hole may end.
Basically you can see that the 117m of strike almost fits into the dyke twice.
So that’s 117m (100%) + 117m (80%) = 210m assays baby!!!
Combine that with minimal weathering as detailed in my above mentioned post #
29508335 and as shown in the figure as well (maybe 15m of weathered assays) and
we could be looking at 200m+ @ 1.40%.
-Great to see Sangar/Main/West all extended as well.
Already spoken about by others so I won’t go on about this.
-Sabali is a bit of a letdown thus far but more work needs to be done there.
Otherwise it was great to see yet another significant pegmatite coming up 800m to the west of Yando.
-That announcement from the 23
rd of October.
Again, it seems to be forgotten and rarely spoken about on HC but the no nonsense approach by this management team is seriously making me believe that these words were not fluff.
GW/JM imo have been under selling the quality of these drill results and personally I believe they are underselling the progress/position that we are in with potential partners, as mentioned on the 23
rd Oct and at the AGM…
Enjoy the rest of your trading week people!
