An attempt to match drilling with pierce points on the long...

An attempt to match drilling with pierce points on the long section.

These two holes add to the confidence of the announced resource here but will not add tons in any significant way IMO. Holes to the NW will be critical to adding volume and hopefully grade though likely to be transitional from OP to UG depth.

I had a look for details on the Resource calculation for Palomino but only found totals. No plans or sections. Anyone know about the latter?

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Partial reconciliation with the announced collars and prior sentinel interps.


Sentinel interp sites green circles. Schematic arrows for azimuth - grid west or east.
Announced collars: Magenta open circles (assayed), White circles assays pending

I was not expecting holes to be drilled grid west as DDH 1 & 2 were. These may not have been the best angle to drill a slightly (SW)west dipping structure. Down hole length may be exaggerated compared to grid E though would not be a large amount.


Overall sentinel locations are reasonable. Missed some and probably added some which might be the result of vehicle activity or mistaking old sites as active.
Missed Holes D11 and 258 which made my previous attempt to correlate to the long section ineffective.

The holes into the marginal grade of the long section are likely to replicate previous results. Especially 254 and 257. Hopefully there are some surprises on the positive side. Such holes need to be drilled to provide data for resource calculations and are therefore not a total waste even if dusters.
Sites labled A-F appear to be a best fit for the pierce points with pending assays. If correct some of the other sentinel sites are furphies.

Above map with data dump of drilling in my data base.


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Geology - generalised from a 2019 plan.

No BIF? and no ultramafics shown in this plan. Common for details to change as exploration adds data.
Sheared ultramafics are the host shown in today's announcement with alteration and quartz veining.
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Looks like there will be some more encouraging hits reported at Palomino over the coming months. Infill to confirm previous and some extensional tests above and below the known mineralisation as well as perhaps down plunge. I say perhaps because I do not know where the resource estimate comes from in 3D space. If hole AHWR010 (3m @ 8.2 g/t Au) was used for the resource then pierce points A-C are likely extensional and will only add to the resource if significantly thicker and/or higher grade.
The overall system is very fertile over 10s of kilometers. Although a lot of work has already been done IMO gold exploration will continue at known sites for a long time and new locations will turn up.
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Good thing there is so much in the Kitty. How it will be spent is not going to satisfy all holders but will hopefully be prioritised where they get the most bang for what is spent and hence for share holders.

Yandal - multiple deposits in the sub 1 Moz range but hopefully with a big hit somewhere. $20M as an extremely floppy round figure over the next 18-24 months with lots of success. Pure and utter fantasy speculation of an over the top exploration program.

Rogozna - 5+ Moz Au Eq in 2 deposits with good long holes into Gradina and Medenovac offering perhaps a similar amount.
60Km drilling planned, at say $400+- per m all in costs, for a spend around $15-20m (perhaps less but not more). This is going to happen with most this year if approved at the EGM. Unless there is a massive No vote, the resolutions will be passed as they are in the majority of company meetings. Not all meetings.
Many have voiced their negative opinions which are valid, if subjective and debatable. Some issues are going to come to pass as they always do when mining and money are present. Hopefully geopolitics will stay out of the issue. Is there a clause in the "JV" with Ibaera which prevents asset stripping - i.e. for Serbia/Rogozna getting more (the majority) of the cash?

Everyone is here to make money. SHs/AB/IB and others. Success such as today's at Palomino and hopefully ongoing at HW plus results of two holes at Rogozna in the lab will help that.
Yes Ibaera will make a mint if the stars align. So will everyone else on a pro rata basis.