Hi Shepherd good question, with over 385 sq klm of tenements VAN has only explored <5% and what the BOD is attempting to do is to gain 'critical mass' in tonnage at the lowest possible cost in order to size up the processing plant and to maximise profitability. The three corridors of Trident (crown jewel), PHB and Triple P were all part of the 2020 drilling program which is yet to be included in the JORC 2012 code upgrade. The decision to go after the 11 'old' pits was a very low risk one with high potential of extending reserves and gaining 'critical mass' at low cost due the pits established open cut mineralised zones. This is why McInnes said he was 'cheating' with this drill exploration program because they knew there is gold there but at what grade and extent was the multi-million $ question. The BOD were vindicated with a little help from the gold gods as the 1st pit of the 11 came up trumps with high grade 1.8 g/t of new open pit extensions no greater than 200 metres deep..The drilling program for 2021 is complete, we are waiting for results from the 10 other pits to be included in the 2012 code JORC upgrade. This will help establish the size and cost (and location) of the plant and help finalise the mining application. IF the stars are aligned all 11 pits should produce surprises on the upside and with a hopefully favourable legal outcome with Superior Gold should bring in an early Christmas present for suffering shareholders. DYOR
VAN Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
