Comparisons of LRV, which holds a 1.7moz resource 20km away, have been compared to KNB for the last 6-7 weeks, or since I have become a share holder. Having it downgraded to a 1-1.2moz from chat gpt, while still good has spooked the market in my opinion. I also think the buying pressure of Datt to get to 20% has inflated the price for KNB. Not to mention people coat tailing him.
But with that being said, KNB have released the results of 4 holes while LRV have done over 100 holes, so you got to look at KNB long term and understand there’s more to this story. While the results of yesterday were disappointing compared to the hole 1 and 2, the direction of hole 4 comes in at a different angle to the mineralised zone. Once the hole reached the mineralised zone, it lit up like a Xmas tree with gold results. Had the hole 4 come in the same direction/ plane as the mineralised zone, I believe the results would have reflected closer to holes 1 and 2. These speculative 1 moz estimate is also going off the assumption we are at the bottom depth. When on average a 75m wide orogenic deposit does approx 500-1000m with some examples (Kirkland lake, Canada) as deep as 2000m
With holes 6-10 and the direction KNB have decided to drill, it looks like now they trying to find out how long the zone is before they start going for depth, so it will be some time before we get any insight into how deep the deposit goes.
KNB Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
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