People who are selling should read the ANN again. More VHG assays due very soon:
Seems a few here are missing the significance of numerous points in this ANN. There's a lot to unpack but the most crucial part is that a lot of the shear zone appears to be mineralised, not just a couple of veins. This has positive implications for the continuity of the mineralisation. Read into that what you will.
Going by my calcs below (which includes some assumptions), roughly 60% of the gold in that gold bar comes from the shear zone, not the quartz veins with visible gold.
The sample used to produce the gold bar only contained
1.3% goldbearing quartz veinlets. The other 98.7% of the sample was taken from the enveloping shear zone. From the ANN:
The bulk sample used to produce the ~9.5oz gold doré bar "comprised a selection of goldbearing quartz veinlets (~1.3kg) and a mixture of sheared basalt and altered interflow sediments (~100kg)
thatcontain thin quartz gold veinlets. This
bulk sample is considered a good representation of the grade of the structure.The material was collected from along the 10m sample trench and is an estimation* (~2,912.4g/t) of the potentialgrade of the mineralisation. The ore bearing material from the shear zone was crushed, dollied and panned torecover gold to (Figure 6)."
If we take the higher value of 10% gold in the veins or 100,000g/t, I back calculated the grade for the other 100kg of surrounding shear zone material and got 1650g/t. We're dealing with very nuggetty gold so the assay results will vary greatly from my number but I reckon there's a decent chance it will be a pretty decent grade.
ICLO options are live too.
