Thanks @eastwest101 I have always found your analysis very...

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daicosisgod

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29/06/21

14:09

Post #: 54146750
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Originally posted by eastwest101 ↑

Sorry - must have accidentally hit "post" before my comments were completed.

Was trying to say that although the 1m sample at extremely high grade was pretty cool and gets a lot of attention, its the open-ended nature of that thicker higher grade hinge zone on long section 1 at Camel Creek that I found to be really significant.

Some of the Camel Creek and Big Rush cross-sections show significant pinch and swell with variations in the thickness and grade of the mineralization in cross-section view so this is not a "lay down misere" and will require further drilling. I take it that the show stopper has always been the refractory gold and cost to construct an economy of scale mill that can deal with refractory ore?

After having a brief look at the past operators of these 3 mining leases and the fact that they were heap leaching oxide and must have always been chasing shallow oxide gold and ignoring everything refractory, I can see that the mining operations seemed to coincide with record low gold prices in the mid to late 1990s. Looks like they have literally been scratching around on the surface for oxides for the last 35 years and no-one has thought to testing for the possibility that there is a Mt Leyshon or a Fosterville underneath.

From what I can tell - the operations were previously owned by Wiluna Mining/Golden Ant Mining NL/Lynch Mining and then Curtain Bros who brought in 2008 before the estate sold onto some intermediaries before GNM picked up all the ground. I bet there is an interesting story behind those ownership changes.

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Thanks @eastwest101

I have always found your analysis very helpful. I am a former beanie and I am certain my lack of mining and exploration knowledge is on full display every day.

Do you have any numbers and thoughts on grades required to make processing refractory ore economic.

Thanks in advance and cheers.....D

GNM Price at posting: 1.3¢ Sentiment: Buy Disclosure: Held
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