Ok time to look stupid again - I have a few questions about yesterday's Ann:
Trenching/sampling West/South only: Does the conglomerate daylight on the east side of the hill as shown in presentation diagrams - east side stream samples with gold and conglomerate covered with basalt scree, with Mallina formation on eastern side? I can't quite see from the picture with the excavator, but if it is the west, is the conglomerate dipping into DEG towards east (in any case some direction) at a higher angle than 'gentle' and is the description of conglomerate covered in scree the full story on the eastern side (everything about that side seems to be mentioned as assumptions and straight from current geological database) - I haven't seen any pictures of exposed east side conglomerate in Anns and it's not going to be exposed according to the latest Ann; why not? What else does the excavator picture show?
To do with the questions above, what has happened to drilling through the conglomerate layer as indicated on previous presentations/Anns? This would answer the 1st questions anyway. I know the land to the east of Louden's is flatish (and supposed to be Mallina), but proof of where conglomerate goes would be useful - logically, if you had a layer all around the hill shedding gold, would someone not have dug through the scree in a few places for a look around over the decades? Novo have revealed more than 1 conglomerate gold layer, so which conglomerate layer is at Louden's? I can't find info on this.
I'm no geo, but would like them to drill 1 hole through the known conglomerate anywhere and another hole slightly to the east of the hill - just to close the book and validate all assumptions. Not drilling at all is making me suspicious that Louden's value is potentially greater than based on Anns and presentations. Gold is there, so why not drill and show us all where else the layer is? Surely nothing to lose?
On the sample sizes - they only have 7,800t accross the 3 sites, so they can't blow it all on massive samples at Louden's to get a grade estimate.
DEG Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
(20min delay)