Ann: Abundant Visible Gold identified at Aucu Gold Deposit, page-44

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Aspis

29 Posts.

02/09/15

12:12

Post #: 15919531
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Originally posted by NewToItAll ↑

Basically the Announcement yesterday had a statement in there of

"We now believe that deposit has the potential to contain several million ounces based on the rock sampling, trenching and drilling to date."

However, under the JORC system and ASIC rules, they cannot make statements like that.

Hence they changed it to this statement.

“Based on the rock sampling, trenching and drilling to date the Company has established a medium term Exploration Target of between approximately 15 to 20 million tonnes grading at approximately between 4-5 g/t being approximately 2 to 3 million ounces.” This Exploration Target will be initially tested by the forthcoming drilling program to be conducted over the next 3 months, with additional drilling required in 2016. The tonnage and grade ranges for the Exploration Target have been determined by applying the approximate average grade from the existing JORC resource across the known surface expressions of mineralised zones.
Readers are advised that exploration targets are conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource beyond that already defined.

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Won't lie seeing "several million ounces" in the original announcement got me aroused this "miner" amendment (see what I did there) is still worth the hype of yesterday defiantly exciting times ahead a lot of good news to be released this last quarter!

WCN Price at posting: 0.9¢ Sentiment: Buy Disclosure: Held
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