SVG 0.00% 2.9¢ savannah goldfields limited

Ann: Progress Towards Recommencing Gold Mining at Agate Creek, page-85

  1. 745 Posts.
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    https://www.altondrilling.co.nz/projects/lnjv-hauraki-goldfield/
    Noted Altondrilling is the preferred provider for dilling in NZ Jubilee site. They are New Zealand based. Why are they not on site and drilling? Last drill result was 521 g/t !!!


    Location: Waihi

    The LNJV Gold Project is a Farm-In agreement between Laneway Resources & Newcrest Mining New Zealand covering two large exploration permits (Waitekauri, EP53469 and Owharoa, EP54216).

    The project is located 110km southwest of Auckland near the township of Waihi on New Zealands north island, within the prospective Hauraki Goldfield which has produced over 40,000,000 ounces of Au-Ag bullion from over 50 deposits to date. The LNJV Gold project surrounds New Talisman Golds’ mining permit and abuts Oceana Golds producing Waihi Mine.

    Alton Drilling is the preferred drilling contractor for the LNJV which is committed to operating in an environmentally responsible manner from drill site preparation through to rehabilitation.


    I have emailed Laneway and asked:
    Q: When will alton drilling recommence or commence further NZ drilling at the Jubilee site? Can Laneway use teleconference features such as Zoom to oversee the project?

    I have also asked them to comment on the drilling of at depth deposits (Sherwood and Nottingham) and the Jedda site that found gold in the last campaign.

    Last year we mined 70,000 tonnes for 15,000 ounces of gold. This year the plan is for at least 30,000 tonnes so maybe 7,000 ounces of gold.
    The company will need to do further mining to develop their JORC IMO.

    We are NOT a mining company with a large JORC. We are primarily an exploration company. While the mining in 2019 and 2020 is great for cash reserves, my advice is not to forget the need to explore. We may be sitting on a JORC of MOz, but if we don't drill we will not find it.

    I think Docmin's analysis is spot on. Personally I wouldn't vote to turnover the board if they show us a commitment to exploration.
    If they just mine this year - deplete all their accessible reserves and don't explore ... they will lose my confidence.

    To use an analogy 'Our resources are like a locked chest of gold, but if we don't find the key how may we enjoy the spoils?'
 
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