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Ann: Midway Emerging as a New High-Grade Gold Discovery, page-47

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MrAu

4,102 Posts.

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28/02/23

15:33

Post #: 66515365
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Originally posted by m0ngy: ↑

The new results to be announced on Thursday are almost certainly from Midway.
5 drill holes (RC with DD tails) were planned for Midway and drilling has been underway since Jan this year.

These results from the first two drill holes confirm the exciting discovery of the Midway Lode with exceptional gold grades. This potential linking cross structure is developing as a higher-grade lode as compared to the existing NW to NNW Youanmi lodes. The extent of this new mineralised structure is at its infancy with huge potential along strike, and at depth.

While the gold grades at Midway have been very good the intercepts have not been especially long.
The new results will be high grade with long intercepts imo.
As opposed to the other targets such as Link, Midway is a discovery so anything is possible. It could be another Penny at around 200K oz gold.
To define the feed for the Scoping Study Rox needs indicated or measured gold ozs. Converting inferred to indicated is one way to get there but a new discovery that adds high grade gold to the resource is potentially a game changer.
If Midway is a major new discovery the feasibility process will be much quicker than the company expects.

My Opinion

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If Midway is another Penny the feasibility studies will be completed this year.

RXL Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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Ann: Midway Emerging as a New High-Grade Gold Discovery, page-47

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

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Ann: Midway Emerging as a New High-Grade Gold Discovery, page-47

Top Stories

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Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

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Buxton projects new graphite province discovery at WA Narryer play

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