They sunk the shaft down to the 23 level in the sixties. An old diamond drilling program between 1947 and 1968 drilled 119 holes in total, however they only drilled about 5 below the 23 level and to quote " several small intersections were made at depth, but none rich or extensive enough to justify further shaft sinking". I don't have any info on the drilling done by Heron Resources done about 7 years ago. Old production figures from the sixties averaged about 6000 tonnes per year at a grade of 20g/t. Production figures from the seventies only averaged 4000 tonnes per year at a grade of 23g/t. Production figures from the eighties only averaged 1500 tonnes per year at a grade of 15g/t. If you read the books "Gold in the Ranges and Gold at Gaffneys Creek by Brian Lloyd it goes in a little bit more detail. Current management need to stop mining low grade shite and drill for reefs. Rather than wasting money doing what they have been doing for the last unprofitable 8 quarters. I am not a shareholder but good luck to the Facebook group. If you get rid of the current mob you need ready to go replacements that will need to be like a razor gang. With lots of experience in small high grade narrow vein deposits.
CTL Price at posting:
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