I believe all highly optimistic announcements in the Precious metals sector are undergoing higher level of scrutiny from ASIC then ever before, For instance the Pilbara is highly speculative at the moment in the gold sector ... and some announcements have even been retracted after release... sometimes it’s best to have a boring old geo write the report as they tend to let the results speak for themselves, management have lots of skin in the game, so likely trying to present these high grades in the best possible light... it’s definitely best to get it right the first time...
As one poster pointed out... the current drilling is 80mts along strike... if we get similar grades to 3.11 historical drill hole... that will add a significant amount of ounces to the deposit.
Once we get a scoping study done on the underground resource ... I believe the market will start to get excited... ultimately the open pit would be best, however the high grade mineralised zone gives us over 500,000 ounces above 3gpt which is very profitable given the type of deposit and it’s depth... if we can continue to expand along strike, we may get to a 1m + ounce underground before we know it.
Recovery’s are 90% without leaching (which is amazing) most deposits are 85-90% recoveries with cyanide leaching.
DYOR and good luck investors.. if your in at this price you have very little down side risk... and certainly if these assays are good, we should get very excited over the coming weeks.
MTC Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
