Agree - a reasonable hit at Spicers Lode, but I wish they would stop dressing up the base metals as AuEq becuase if and when this ever gets into production, the Ag Cu Pb & Zn grades are pretty low so they would be looking at the capital costs of a gold circuit plus a flotation plant for separate Cu Pb and Zn concentrates (presuming Ag all reports to the Pb concentrate which is typical) so it will be a low grade gold mine with a very low grade base metal feed producing several base metal concentrates. It would have been nicer to see higher gold grades and/or a really higher base metal grade of at least one other metal to carry the economics of this a bit better. Just looks like the Spicers Lode just hasn't provided them with this so far.
People complaining about a down-hole intercept depth of 122-150m-ish are talking out their butts, because the drill hole is inclined, so the actual real vertical depth of this intercept is less than that anyway, and well and truly within the ballpark for either open pit mining or underground mining (depending on what gives them the best return and grade profile/strip ratio considerations).
GRL Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
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