Ann: Discovery of High Grade Bulk Starter Pit at Estelle Gold, page-66

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serena

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02/09/19

18:35

Post #: 40281225
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Originally posted by speedyl: ↑

I had some of the same questions as others here so I spoke to Louie today. Like @wombat777 said the drillings are sent to a lab in Alaska for prep and then sent for assaying to Vancouver I thought he said (but I could be wrong it might be Nevada??). They are being done in groups as that helps with the JORC modelling. I was told all have been sent to the lab for assaying and the results are reported as they come in so, that is why its not necessarily the 1st drill holes which have been assayed 1st. I didnt ask Louie this but I also wondered if they wanted the results of drill holes 16, 17, and 18 1st as they were closest to the historical hole SE12-004 which had a very long good grade intercept from historical drilling. I also asked why we hadn't drilled any deeper holes yet and it is because they have found that the mineralisation is open in all directions and while they have the RC drill rig there its much cheaper to drill more shallower holes and prove up the length and width with that rig than get in a diamond rig in 1st. This lets them establish an initial JORC at lower cost. The initial RC drilling has also proven the accuracy of the IP survey and from that they know the mineralisation extends to 300m+ so they will plan to use a diamond drill rig to drill deeper as per Avi's comment in todays announcement "We have only scratched the surface in the Oxide Korbel deposit area to date. The gold mineralisation is open in all dimensions and additional diamond drilling is planned to establish the outer limits and depth extent of the deposit".

I get the feeling that once they get the permits for the permanent camp, which apparently can be flown in as modules and setup very quickly, then we will get the next drilling plans. I understand that they can drill through winter too.

The real good news from todays announcement IMO was not just the assay results or the starter pit scenario but the fact that the drilling has now also confirmed the validity of the IP survey data.

Personally, like @wombatt777, I am eagerly awaiting to see what they find at RPM too as I think this could be a very nice surprise (just gut feel from what I have read about it).

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Ann: Discovery of High Grade Bulk Starter Pit at Estelle Gold, page-66

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