Australia's largest stock trading and investment forum Australia's #1 stock forum

EXU

Click for more information

0.00%

17.0¢ explaurum limited

Always appreciate your thorough contributions esh. Keep them...

First 87 Last

Share
Profile

Follow
pints

56,091 Posts.

310

09/12/18

15:35

Post #: 36798437
Share

Originally posted by eshmun ↑

These guys aren’t spruiking Mace, if anything they are being absolutely honest with shareholders in this announcement.

The grade continuity is difficult to determine because of the coarse nature of the gold, the fact it doesn’t exhibit a fine tail in the pan, and the difficult sampling conditions arising from the clay that the mineralisation is hosted in. If you people could use your brains and learn to read you can see that this is a very high grade depoist. The coarse gold is mainly confined to a thin layer in the Tertiary sediments/clays where they change colour at the base of the mottled zone. According to the announcement the gold has been dissolved and recrystallised at trap sites in the archean basement rock where sediments can collect.

The diamond holes are the most representative of the gold grade distribution and the grades in many of these holes are very high (bonanza grade). I’m actually surprised at the high hit rate in the diamond holes considering the coarse nature of the gold and the observation that the tails in the panning don’t show a fine tail. Remember HQ diamond core is only 2.5 inches wide so given the coarse nature of the gold the hit rate is very high IMO. This is not like a Purdy’s Reward situation, the gold here is coarse but not “nugget like”, although there maybe a nugget component as well. We know and I predicted that diamond core would likely be useless at producing results at Purdy’s and that prediction proved to be correct. This is not like Purdy’s, we are consistently hitting the high grade gold with the diamond core.

Let me repeat this is not a 1.4g/t system. That is absolutely clear to anyone who can read, this is a very high grade system.

So please leave us in peace to get on with our business.

Hitting timelines is also not so important while sentiment in the sector is so low. There are hardly any investors interested in this segment of the market and it makes more sense to go to debt and equity markets when the sentiment returns. I’m in no hurry, I just want to see things done properly and the project add value through more drilling. See you later RMS, hello and welcome ALK. Esh

Expand

Always appreciate your thorough contributions esh. Keep them coming please as we progress to the very inexpensive mining of the very valuable Mace deposit.
I have little doubt that this particular resource will produce ten of million of dollars for the Company. And, from what I'm told, so do the Directors and geos.

EXU Price at posting: 8.2¢ Sentiment: Buy Disclosure: Held
4 Upvote

1 Great analysis

Reply

There are more pages in this discussion • 19 more messages in this thread...

First 87 Last

Add EXU (ASX) to my watchlist

SPONSORED BY