That is some great digging there @poolhustla81. I have been doing a little research myself just trying to join a few dots. As you are all aware I have been openly bullish on our ground in South Korea and in particular Weolyu South. I want to start with a diagram I posted a few months ago.
I have attached our announcement from the 16th Dec 16 as a background to my speculation on our current drilling at Weolyu, but it was clear from the first round of rock chipping what type of deposit the geologists had discovered . From the announcement 16/12/16.
" Vein textures demonstrate that Weolyu South is a classic example of high-level, low-sulphidation epithermal veining". Now anyone that has done some research on these type of deposits will know that grades of 40-60 g/t are not unheard of. Now I'm not saying we could expect this from our current round of drilling at Weolyu or from any further rounds of drilling at this prospect(although dreams are free), but if the diamond drill encounters these high grades there will be visible gold in the drill cores. Quartz is dense, coming in at 2650kg per cubic meter. To put this in perspective marble is around 2700kg per cubic meter. You don't need many cubic meters of quartz to have a sheet load of gold even at 8 g/t. Our first hole at Weolyu South( as far as the company knows it was the first hole ever to be drilled at Weolyu South) was drilled to 240m. We started drilling aprox late april and still have not finished our second hole yet. Slow going is fine by me.From the announcement 16/12/16; "The veins identified at Weolyu South are characterised by polyphasal quartz-sulfide textures, typified by complex colloform quartz-adularia-sulfide-silver sulfosalt banding and quartz sulphide re-healed hydraulic brecciation, with common quartz pseudomorphs after bladed calcite. This is indicative of extensive boiling and confirms Weolyu South as an excellent target for potentially economic gold-silver mineralisation, possibly commencing at or near surface. The potential exists for significantly elevated grades at lower relative elevations, and the amount of vertical relief indicates the degree of erosion is muted at Weolyu South compared to the north. This implies significant potential exists to discover elevated gold and silver grades at depth at the critical boiling zones".
As @Dingoheeler said there is very little chance of hitting barren quartz beneath mineralised veins at surface.I encourage any holder or potential investor to do some research on the pacific "ring of fire " geology. Currently we are drilling on one of two granted mining tenements J15/67 is Weolyu south and to the north J15/66. Clearly Simon had the foresight to see what could potentially unfold at Weolyu south. From the announcement 16/12/16
"Initial first pass mapping of the broader area has highlighted significant district scale alteration, particularly on the north-east trend paralleling the major peninsular wide Yeongdong fault system. This fault is a major partition between the younger Cretaceous sediments and volcaniclastic rocks to the north-west and the older Precambrian gneiss to the south-east. Because of the district scale prospectivity, Southern Gold has made new applications for tenure along this trend"
Now I'm happy for anyone with a geological background to jump in with a "cold spoon" at any stage @we9smia, I know you have a geological background from my holding in IVR, any thoughts on Weolyu south? In any case I wont be selling anytime soon as I patiently wait for the assays next month as whatever the outcome of these first few holes as ever holder knows I am only discussing one prospect, I have not even touched on the rest of our ground in SK, our JV with Bluebird, Glandore, Cannon UG, Cowarna, Bulong and Transfind...........Jeez we are so undervalued IMO
Good luck to all of us
SAU Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
), but if the diamond drill encounters these high grades there will be visible gold in the drill cores. Quartz is dense, coming in at 2650kg per cubic meter. To put this in perspective marble is around 2700kg per cubic meter. You don't need many cubic meters of quartz to have a sheet load of gold even at 8 g/t. Our first hole at Weolyu South( as far as the company knows it was the first hole ever to be drilled at Weolyu South) was drilled to 240m. We started drilling aprox late april and still have not finished our second hole yet. Slow going is fine by me.
(20min delay)