Thanks
@gbgirl for that report.
I hope he has it right but as Shamer keeps telling me, What he had seen when he was there, gives him no reason to doubt it.
This video has been put up many times so we have all seen it but, listen at 3min 30sec and Simon says that the grade is significantly higher than they expected.
http://www.*.com.au/companies/stock...yritic-conglomerate-at-jarrett-well-9978.html
Toweranna has a good grade so far at 2.9g/t and we are now about to see the size more than double.
Grade will give us further multiples to that expanded resource size.
I went back over the number of that photo from the last update 0n 22nd Aug.
View attachment 1305893
As I have said, I totalled the length of intersection in the existing and in the area outside that.
Existing is 36 lineal metres with a total of 132.83 g
Outside area is 160 lm for 755.91 g
5.69 times bigger but also with a larger footprint.
Now if you take 755.91 and divide it by the length of intersection of 160, it will give you the average g/t for that drilling. That is 4.725g average.
If you take the existing drilling shown on this pic you will get 36 metres with a total of 132.83 g.
Do the same, 132.83 divided by 36 and you get 3.69g av.
So we have 4.725 av in the new and 3.69 av in the existing.
That is a 27% increase in the grade. If we add 27% to the existing grade of 2.9 ( which is 0.783 g ) we get 3.683 g/t for Toweranna.
My guess at 4 may be a little high but I think that 3.7 will be close even with the numbers I have used which s not a conventional method. I would be very interested to have input from
@KoDe to give his opinion on what he thinks we may be looking forward to.
The excerpt from the update on Sept 6 ( Indee Gold Acquisition Update ) indicates the resource update but not PFS.
(Throughout the first half year of 2018, the Company has been aggressively drilling across many of the gold deposits to improve and increase resources at the Pilbara Gold Project. The resource models are currently being updated based on drilling completed to the end of July 2018. The 2018 resource update report is anticipated in late September/early October and the updated resources will be used as the basis for new open pit mining optimisations.)
If I go back to the Aug 22 Updated investor preso, it gives a clear schedule and pfs is not due before the end of the Q.
View attachment 1305905
Of course we need the resource updated as this is what the pfs will be based on.
This was also from Sept 6 update.
(Additional deeper diamond drilling has been completed at both the largest Withnell and Wingina gold deposits, targeting higher grade underground resource definition and extensions. Initial results of this drilling are expected to be reported during September.)
So further good news is close but still no mention of those tails out of Toweranna, ( with visible Gold ).
Let's hope we get them all together.
When Simon was talking in that video ( link above ) he refers to the grade being significantly higher, That is across the whole project, not just Toweranna.
I just wonder how much things will change with the news due in the next 2 weeks alone.
We will have good news flow for months to come.
The 41 targets that have been identified across the 220klm potential strike length is only what is outcropping. Easy and inexpensive way to identify them but I wonder what the EM will show us, also very near to completion as I hope as it was scheduled for early June.
https://degreymining.com.au/videos/
Go to the vid RIU preso 10/5/18 and listen at 10 min 45 sec
Watch out for this Tuesday our time.
VANCOUVER, British Columbia, Sept. 21, 2018 (GLOBE NEWSWIRE) --
Novo Resources Corp. (“
Novo” or the “
Company”
(TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that its President and Chairman, Dr. Quinton Hennigh, will be presenting at the Denver Gold Forum on Monday, September 24
th at 9:15 am MT, 11:15 am ET at the Broadmoor Hotel in Colorado Springs, Colorado.
Shamer tells me that all will be revealed and could be the most exciting news yet.
Kind regards, Wack.
(20min delay)