RR commented that a sound way to find a new gold discovery is to...

RR commented that a sound way to find a new gold discovery is to explore close to old discoveries. This is part of the logic that led to new discoveries at Midway and Youanmi South.
The Youanmi Shear zone is an enormous, somewhat nuggety, old rich area intersected by exceptionally high grade gold deposits that repeat throughout the zone. Magenta, Penny West and Penny Gold along with the Youanmi mine deposit are examples. What has excited investors and geologists about the Youanmi South hit is that another gold discovery is not at all unexpected as another repetition
These deposits can be easy to overlook as they are usually quite narrow 3 to 5 metres wide.



Previous CEO Alex Passmore was convinced there was at least one more Penny deposit and drilled far and wide when perhaps it was sitting under his nose awaiting the likes of the new Exploration Manager and RR to see the possibility,
Evidence that the spectacular hit at Youanmi South is a major new discovery is supported by the high grade hits in the immediate area, the undrilled nature of the zone, comments by the Exploration Manager (posted) and the perfect geology for a new discovery,
However, it is not possible to calculate the width of the deposit from the diagram below and there is simply not enough information to be certain that this is another Penny sized deposit. But geos are looking very favourably on the discovery.



A mining engineer friend suggested that the Ramelius approach to mining Penny Gold through an existing mine pit (Penny West) could well be used at Youanmi South with a decline from the Bunker Pit. But that is getting ahead of ourselves, the next results will tell us what we have at Youanmi South with Midway to come afterwards.




My Opinion