Ann: Mt Magnet Gold Project Auger Samples Completed, page-32

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25/09/20

17:53

Post #: 47637596
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Originally posted by Blythefan: ↑

This is great news, happy to buy more at these prices.

The auger was completed to test wither the soil sampling anomaly was real. You would have to be a childish nong throwing his toys from the cot to think that you can improve a 5ppb soil anomaly by drilling ~1m deeper and getting 50-140ppb (10-30x better) and I quote "they did not discount this being simply a gold in creek anomaly with no basement connection - not to say there is none, but with such shallow depths penetrated it is really a bit of a joke??"

I would say that they have, in fact, discounted it being just a gold in creek anomaly. The auger will be testing the top of the laterite and saprolite at the base of the sheetwash. This is nibbling on the top of the laterite and bedrock. Experience from the Boogardie Basin, to the north, (which I have, and others clearly do not) says that a halo of 100-200ppb Au in the laterite is present within 100-200m of all the major Au deposits.

So, to me, and all IMO, the auger has de-risked the project. There was opinions that this was just tailings washed down from the Hill 50 mine. Not at 3m it isn't. That theory is in the bin.

It's restricted to the drainage channel? Yeah, only because the drainage channel is remobilising a laterite halo from below and spreading it down stream.

It's a waste of money? No. The auger drilling has improved the understanding of the gold anomaly, pinned its source to the laterite and bedrock underneath the channel, and is showing clear Au enrichment at a level that is far beyond what could be expected from "just creeks", whatever rubbish nonsense that statement is. Like, if all creeks had 5ppb Au for 7 kilometres, it wouldn't be called "exploration", it would be called "finding".

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you are absolutely right and these prices have been a gift for me all day

BLZ Price at posting: 3.5¢ Sentiment: Buy Disclosure: Held
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Ann: Mt Magnet Gold Project Auger Samples Completed, page-32

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