Been watching that video update a few times.
I can’t help but think these two guys really think they have found something massive.
They are both very excited, “We are excited, we really like what we are seeing”.
They have moved one third of their drilling to Golden Eagle, where they have just started looking at, they haven’t just put in a couple of holes, they have drilled seven or eight odd holes, and drilling deeper that they have before.
They are using the XRF, and are talking about “if it is a really big system, it could be a stand alone, it could be big enough and completely dwarf...possibly”.
“What they are expecting to see is somewhat confirmed.”
They have got two labs trying to get these 18 holes through the lab, and are frustrated.
We have bought a core saw? Seems like they are in a hurry, and will have a lot to do. This whole assay delay business has been going on for ages. No we are in a desperate hurry?
“There is also the fact that the systems seems to be really open as we move down-dip, at depth, and further to the West”.
There are many points during the webinar where they start to express how big this is, talk about a porphyry then “check themselves” as if to say, I can’t officially say it’s real and it’s big...
Lots of pausing to try to think about what they are allowed to say, etc.
I thought it was particularly interesting in the video when JM relayed the questions:
Question: (22:18) “You’ve drilled seven holes now, with no assays to confirm anything, why are you so confident that you have something to continue to drill seven holes?”
Fabio Answer (22.30): “Golden Eagle was a bit of a surprise, and when you are seeing something that you are not expecting, you pay a lot of attention.”
“What we are seeing with the drilling....seems to be....suggesting that what we are expecting to see from surface is somewhat confirmed. There is also the fact that the systems seems to be really open as we move down-dip, at depth, and further to the West.”
“So when you start putting these two things together you think well maybe we should be really pushing it. We will update the market when some visual information will be available. Well we are actually spending a lot of time trying to work out the geology and the details of the alteration.”
“We are excited, we really like what we are seeing”
Question: How deep are we drilling? (23:53)
Fabio Answer: “Some of the deepest holes in the Oracle Ridge area. I think the deepest we have done was about 650m”
“Clearly in Arizona, Tim mentioned it’s elephant country, when you see alteration systems you don’t want to do be shy with your drilling”
Question: “theses two new systems have the potential to dramatically change the scope of any future mining operations. what does this mean?” (26:40)
Tim Answer: “That was a comment I made about our recent Announcement. We are trying to grow our resource, we see that we need more resource, but we also see that there is that potential to step change, if we can add on another ore source, on to what we have already got, that has the potential to significantly change future economics of the mining... if it is a really big system, it could be a stand alone, it could be big enough and completely dwarf...possibly... we just don’t know that yet. But, we are getting great ingredients for something, if there is a system there that is mineralised, this is what we need, this is what we want, we want to try to add on and build our resource”
Funny how he says full disclaimer “we haven’t done studies or anything, and at Golden Eagle we haven’t found that big resource or system yet. Just want to make sure people are clear on that.”
(28:10) As you can kind of work out hopefully....there is a bunch of old workings in the area, around Golden Eagle, mostly gold, some copper....and they are really good indicators you are in another part of the system.”
Interesting times me thinks
Havelots of EM2...
(20min delay)
