Ann: Exploration Update, page-38

Pretty encouraging news from this announcement, I got in at the Konick announcement a few months ago, and looks like the thesis that this entire area is alsmost unexplored due to previous limitations of the historical work might be panning out.

The cross section in this announcement isn't too different to the Konick cross-section here. The same story of barren cover and a lot of air-core not drilling deep enough to test basement, looks like gold with the magnetite BIF horizons, so dead easy to target additional drilling with magnetic geophysics.




The only concern I would have is that this is the first deep hole in Marwari and its unlikely although not impossible that the gold-bearing structure is potentially dipping to the west rather than steeply east which might explain why the drill hole was extended so deep. If that's the case the apparent down hole intersection might have been wider than the true width. My scribblings are in purple as an alternative theory. Even if this is the case the size of the Oxide Au plume would suggest that there is some decent grade and width to this whichever way it dips.




If the geology is as visual as the company implies (and they won't be seeing the gold, but will be seeing the magnetite host BIF rock), and they are talking about drilling the next hole being collared 40m south of HWAC1472, then the next diamond hole is actually testing along strike and not down or up-dip from this first diamond hole so will be 40m off-section from this image above. No assays yet, but pretty encouraging news if investors can interpret the geology and the order and new priorities of the exploration drill program. If the gold really is consistent and associated with the magnetite BIF horizon then that alone is a massive exploration breakthrough that will make it easier and quicker to find and prove up further gold ounces in the future.

I still want to see some actual photos of the drill core, and/or RC chips with magnetite-hosted mineralization drawn on a cross-section with at least two drill holes to prove to myself to buy more, but I'm already free carried from an early entry so just sitting and holding for more assay and/or drill info seems like the way to go for me.