Ann: Further high-grade gold at Fountain Head, page-8

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19/05/20

18:02

Post #: 44709438
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Originally posted by eastwest101: ↑

Good results from the RC holes, looks like the company is determined to get into production and will do its mineral resource estimate that will exclude the deeper Tally-Ho Lode at depth, judging by the cross section it would seem that the visible gold lode(s) at depth in Tally Ho would more likely be accessed from underground unless the grades are so extraordinary that they would carry the dilution and expense of a massive pit cutback at some point in the future.

It does seem a little short sighted that the company does not want to put in at least a few follow up deep diamond holes to follow up that Tally-Ho Lode at depth though. If it is visible gold then the grades will be off the charts, and any follow up drilling demonstrating some continuity in the Tally-Ho Lode at depth would cause a serious re-rating of the share price.

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They have not said that they will do 'not want' to put in a few hollow up holes. Where is this indicated?
They first must receive core assays, and coarse gold is notoriously hard to assay. Easy to under-report gold, and we don't want that.
I personally would start drilling the follow-up exploratory holes now rather than wait.
But the interval of around 43m with VG might indicate a significant structure/lode that would necessitate a follow up.

PNX Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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