Ann: GIB:GIB Acquires Option OverHigh Grade Edjudina Gold Project, page-25

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robbo24

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11/10/20

19:05

Post #: 48009356
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Originally posted by HotRods65: ↑

"How the f*** do they get a higher MCAP than NXM from their Triumph drilling results......."

It is not just the drill result numbers, it is the width/continuity of the lodes and system. The system is so far 100m wide, strike length unknown and open north/south/depth. There is a huge area to the north where there are no historic workings and it has never been drilled as far as i can tell.
It runs from the surface , there are going to be a lot of soft oxide tonnes. Even if it averages 1g/t it will be very profitable easy mining. I think it's going to average higher than that and the grade will probably uplift. Neta Shaft is part of it and the old timers pulled 47g/t out of that. Who know what will be at depth, high grade has been defined to about 120m in Neta Shaft and that was never mined. No where on the full Edjudina Line (14km) are there lodes anywhere as wide a GIB have just found. Follow up drilling is going to be very exciting
At a minimum with the current strike could GIB put a pit on it and mine the oxide to 60m and truck down the haul road to Carosue Dam. But this is just based on results from first pass drilling who knows what followup will uncover.
I think NXM are going to do quite well with their 6%.

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I'm not so sure about the area having no workings... The aerial imagery I have looked at makes it look like there is - why else would Jim be sitting on the hoist cage used in the old Neta shaft... I take your point though - old workings can make it risky, expensive and environmentally problematic to mine later.

Anywho, probably a better discussion for the GIB threads on balance.

NXM Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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