I have been buying and researching SER for two months now and there is a lot to like about Achilles 1. With such a high calibre share register and management team I wanted to understand the excitement. As I’m sure some of you know, about 20 years ago, Western Plains Gold held a tenement covering most of the shear and mapped Achilles 1, 2 and 3.
Those two “near miss” DD holes into Achilles 1 are very important. They tell me IMHO the system is highly fertile in this location, there is the right style of alteration and it’s mineralised. With just the geochem and geophysics alone I probably would not have gone hard at this.
These copper values and the learnings from other recent discoveries supports the view there is something east of this hole. That looks like a nice halo IMHO.
So why did this not get followed up previously by Western Plains? Well they decided to have a crack at iron ore in SA and ended up selling to Smorgans for a small fortune. The Achilles prospects were deemed non core, they made some attempts to JV, then relinquished it in 2009 (during the GFC mind you!). With new eyes, techniques, discoveries and cash, this prospect has moved back up the priority list.
