Ann: AC Drill Results at Louie Reveal Significant Gold Anomaly, page-9

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dag66

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21/03/24

13:37

Post #: 72995104
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Originally posted by dunny29: ↑

One (of perhaps several...) things over the past couple of years the company has done poorly is leaving things vague, especially on drilling strategy/execution. In saying that, a bit ironic you are calling newbies to not be sucked into the headline and calling the results absolutely terrible, without understanding the potential significance of the results yourself.

The results reported are AC only, Not RC drilling. They show signs that Capricorn's system might be replicated (obviously plenty of encouraging results don't progress into much though). The plan has been to use AC drilling which is quicker/cheaper/easier for what it can do compared to RC, to
-Validate existing models/trends (eg the Capricorn resource/Mt Gibson Shear zone structure appearing to continue south)
-Show any grade anomalies in weathered/oxidised rock which can be a sign of more significant mineralisation deeper in fresh rock (eg not expecting economical grades in the AC results, just enough to show something is there and potentially continues into the hard rock below where grades may replicate Capricorn)
-Find the depth of the fresh rock, where RC drilling would be required to go deeper and where primary mineralisation is likely to start (eg where Capricorn's drill results are, where they will be targeting for assays with follow up RC drilling)

Hidden in this ann and mentioned prior to confirm the above
'As previously reported, drilling has confirmed that most of the historical exploration drilling finished within silicified overburden and didn’t test the prospective basement rocks. This is particularly encouraging as it means most of the historical exploration drilling at Louie and the broader Claw Project is completely ineffective. It is anticipated that BPM will infill the current 400m spaced traverses during the next drilling program.'

This anomaly validates the modelling and shows the potential for Capricorn replication is at least a somewhat positive sign (even if nothing more at this stage). But won't show what's actually in the fresh rock where the primary mineralisation would be (where Capricorn's hits are located) until the next round of RC drilling targets them in hopefully as soon as a couple of months. As with exploration, perhaps there is simply nothing below, but to write off these results as nothing and absolutely terrible is a bit silly. They were only aiming to prove anomalies existed, which may be an indicator of higher grades/primary mineralisation in the fresh rock deeper (which has been achieved).

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Also to add to that!!

BPM Price at posting: 8.1¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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