Hey Patron,
RMS have been very cagey about their failed drill results at Penny.
This from the 21st Oct, 2021.
Other than the results which enabled the increase in ounces today, they have not been able to find any extensions. As you point out, there could indeed be a repetition (that would indeed be a major discovery), but... from what I can tell, RMS have not drilled it. There may also be an issue in regards to the tenement itself, as in, it's quite small and the deposit is close to the boundary (from memory!).
Tangs, any more ounces, might be from under Penny West, but.. from the announcement today, they don't seem to have found anything to be excited about.
For what it's worth, I do agree, Mt Magnet has a good runway for production over the next 3-5 years, which will hopefully help offset Edna May as it runs out.
Ann: Penny Gold Mine Update, page-26
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