Ann: Acquisition of High-Grade West Australian Gold Project, page-192

Benjamin Bond states:

'Whats the rub?'

I don't see it.

4 Points:

1. Butchers became uneconomical because of a depressed gold price in 1997: same as Bellevue gold which also abandoned its mine at that time.

2. Only operated for 2 years suggesting there is loads of exploration and mining to be done!

3.And what was revealed by Tunks in the podcast and what CandleStickMan summarised, I quote;

'The projects lack of modern and digitized historical records combined with the work required to collate and decipher the data would have been a deal breaker for some companies.'....Andrew Tunks, I quote, 'One of the reasons this project has been untouched.'

4. The owner was very interested in rare earths in Greenland, not gold, so I am surmising that maybe he wanted the money to explore his passion.

***For me, this is really a unique opportunity....a project unfinished....abandoned for over 20 years with a lot of exploration upside with a mineable resource with thick intercepts, a continuous homogenous orebody from pit floor to below already at our disposal!

To quote from the announcement-PRESS HERE

'Historic drilling beneath the shallow Butchers Creek Open Pit indicates substantial ore zones beneath the pit floor including both thick mineralised envelopes and narrower, very high‐grade zones'

'Mineralisation is open at depth and down plunge to the south with structural repetitions of the host unit across the project vastly increasing the potential strike length.' not to mention tenements also at the Golden Crown and Faugh-a-Ballagh prospects.

Now imagine for a moment if these structural repetitions with this similar homogenous mineralisation is repeated along strike!


Boy! oh Boy! If this pans out as I think it will be like what Arfur Daley said to Terry: and the world will be MEI'S lobster!...lol






Hint:

Tunks and his his geology team had to tirelessly plot by hand, metre by metre old assay results because there was no digital data base.

What did he find after mapping the old holes to suggest that this type of homogenous mineralisation might be the norm(repeatable) for the resource at Butcher's?

" the continuity of the ore body, the internal continuity of the drill zone, metre after metre of good solid assays with very little internal dilution which really impacts your stripping ratio in the open pit environment(lower strip ratio)

"and a real sense of ore in the floor of the pit, so still wide zones of ore in the floor of the pit and the opportunity to extend that to the south is VERY EVIDENT when we started to look at the sections and rebuild that model from first principles....having done that I have an ENORMOUS AMOUNT OF CONFIDENCE that is where we need to go now and what we need to do TO COME UP WITH SOME FANTASTIC DRILL INTERCEPTS."

AIMO