The Company has told us what they have found at Peninsular - some posters here expected or wanted something different and cannot adjust their thinking to accommodate what is known.
OK, now listen up. They say the 2% visible was in a quartz ironstone breccia vein.
Such a vein occurs during explosive volcanism, The ironstone may be a replacement product, so may the gold. The explosive volcanism may be the result of only local crustal weakness, i.e. only one or a few veins, or maybe it is wide spread. The veins may not be continuously mineralised with gold.
My take away is that there is gold in the system, somewhere.
1. There might be repeating breccia zones, pipes and veins. What we see at surface might be the boiling zone which produced widespread very high grade gold, but not necessarily continuous. OR!
2. The gold we have seen might just be part of the gold cap of a deep economic deposit. Breccia pipes can run for hundreds of metres. OR!
3 ? Who knows! Yet?
I think the geological team is studying what they have seen, maybe even including some early assays, but have not yet settled on the possible deductions, which are probably much more complicated than my simplistic analysis. I take it that because they are reluctant to be specific, they do not yet have sufficient evidence.
So why aren't we happy to just sit back and relax, and do what they do. Wait for more assays, and an interpretation of the geology.
IMO we could be onto a very good thing, or just a geological phenomena of no economic value except to gougers.
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