Steady Eddy, this is a chat site not for doxing, so I'll confirm...

Steady Eddy, this is a chat site not for doxing, so I'll confirm that I don't even know JS let alone am him. Love the banter though, and you're quite right lifting the DRE price is a Sisyphean task... despite your long and persistent efforts. While we wait for the smart Geo's enter Baltasar's place and explain the situation properly, I'll finish off my Metzke's review.


As you saw in the LS posted above, ~10-30m from surface has been stoped out by old timers from multiple shafts along 500m strike of Metzkes. Although a high water table might have got them at depth, most of the mine voids seem to have stopped near the fresh rock interface and probable supergene enriched layer. High grade holes MZRC001 & 2 northern end sit inside the upper supergene zone as per DRE's interp section from 2020. The old timers didn;t dig for shits and giggles, and clearly they could go deeper when they thought it worthwhile...



That northern end mineral resource block demonstrates things perfectly. 4 holes of >20g/m all on a level, but underneath grade breaks down to ~1g/t and zero deeper still.



Now DRE aren't left with completely fresh rock mind you, there is still some good supergene enriched stuff left, but it's both minimal and at risk of being smeared down into the fresh MRE if the resource geo isn't careful or diligent...

There is some high grades at depth, especially in the middle, though I'm not sure about individual assays and nugget effect? The MRE only cut two samples in the entire MRE. The diamond holes (Triangles on LS), 3x yellow FA grade, and 1x 9m @ 1.5g/t Au (MZD001) that puts the shivers down my spine. Below is MZD001 core, showing the ~8m wide Metzke's shear zone with multiple quartz veins. If 1m went 6.5g/t then the other 8.5m went 1g/t Au across the shear zone.



Below is core from another diamond hole at depth that assayed 1.6m @ 1.8g/t within the shear zone ("abundant visible gold" , makes me wonder if the smart geos were looking at pyrite?)

There's lots of 1-2m high grade hits, and plenty of small and/or low grade hits not marked up on the LS of course, and the problem is you can't just selectively mine the 1m Hg quartz veins that come and go within the 1-4m shear zone, even underground, you have to take the whole shear zone and accept an average dilute grade.. especially hard rock open pit. Ever seen a hard rock blast throw ore into the air and heave the ore zone around like a rag doll?

So the 15k Oz Au is estimated by DREbear Payne using a 0.5g/t cut after averaging assays up to 80m away. I encourage readers to spend a minute studying the actual drill holes grades and considering how patchy the Hg vs LG is in fresh rock. Not just will high grade 1-2m intercepts be diluted into 4m+ type mining blocks with unavoidable waste, but the grades look quite nuggetty which means HG hits might be overs, LG hits might be unders, and you have to mine the lot and accept and low average grade to the plant...

MRE has an average grade of 6.8g/t, but that's before dilution only taking the 1-2m good stuff when it can't be selectively mined. The deep diamond holes were a huge disappointment in the central area, and the Nov'22 drilling I added in was spectacularly bad right along the deposit under the supergene zone. Some of the MRE zones are carried by a handful of holes, the southern block is centred on one hole.. clearly a lot more drilling is required before anyone risks money on mining.

Regards an open pit to get even the top 80m of ore, at 45deg avg pit wall dip to keep it simple, the 500m strike ore zone will be ~200m wide (40m min final cut) and ~600m long for how many Oz at what low, diluted for mining losses and recovery reality? DREbear didn;t provide any 'grade-tonnage curves' to guide us as to what Oz's might be HG truckable and how many Oz are close to the 0.5g/t cut-off, but then you wouldn't expect him to would you. What I'm very confident of is that there will not be any where near 15,000 Oz of gold in satellite pit for toll treating, and not at 6.8g/t unless it's a very small pit with a high-grade mining cut.

Something else the 3 monkeys don't mention how Metzkes might be developed is the costs and overheads for any deposit in WA, regardless of size. First get a mining lease granted, then all the permits including water, EPA, rehab/closure, safety, road haul etc which take time and money. Then the huge overheads for build and run a satellite operation like camps, explosives, safety, staff for everything.. no, if there aren't a decent amount of Oz then it's just not worth a listed companies time, cost and risk. Red, green, black, safety tape... costs are going up almost as much as the gold price, you need size to move the needle imho.

Now I don;t want to come across all negative, infill mine reserve drilling might surprise on the upside and it the Oz pile up, who knows. JV partners knocking down the door probably. Just think punters should be aware you don;t have to be a smart geo to run some logic over the data and verify... so long as you have the time and can be bothered making the effort. Me, I'm a lazy bastard, need someone to fire me to be bothered...

GLTAH