MAG magmatic resources limited

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Ann: Gold-copper footprint expands significantly at Lady Ilse, page-6

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2011doogs88

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25/07/24

10:49

Post #: 74909511
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Originally posted by Antipater_100: ↑

so it seems.
I am not sure what the market expected though. I think MAG is now followed by very few who understand how to interpret these results and lot of people expected to see 500m intercepts at 0.7g/t AuEq from 25m long holes.

AC holes are designed to test for anomalies and pathfinder elements that can point Geos to better drilling target or tell them to give up - this is very rough order of magnitude explanation.
For some AC holes to return economic grades it's actually big "success" - it actually means the area is very prospective. Does it mean there will be discovery? No!!! But it certainly gives the ground more credibility than many other prospects.
There are examples when Geos made big discoveries by following up on AC results that returned sub 0.01% Cu.

If I am to make a call on this one, I would go for another ~60 AC holes and cover rest of the area with few more lines to tighten the grid. And only then go for RC or DD holes. The ground allows for RC holes to be drilled to decent depths as ALK managed to get down to ~400m with few holes and 300m is not too hard to achieve so MAG may end up testing some targets on the "cheap" with RC holes.

back on the register - btw.

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You are 100% correct. AC drilling only tests the upper 30cm or so of fresh rock, that is all. All of these anomalies are in the weathered sap rock and are therefore leached of the cu and gold.

I would call this a big success and warranting subsequent RC drilling

MAG Price at posting: 5.3¢ Sentiment: None Disclosure: Not Held
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