Mal 230355:
We are talking about gold mining from the bedrock....the Garimpeiros picked off the first 20 metres finding free gold and milled gold(crushing and gravity separation). An estimated 500,000 to 1,000,000 ounces was pulled out from the area.
It is very obvious from the geology that there is alteration across the surface of the pits at Novo, some have estimated to be in the 10's of metres....We know from Juruena close by that most of the gold is not in the oxidised layer but lies beneath associated with sulphides like pyrite
(at bonanza grade Dona Maria an estimated 65% of gold is in pyrite)...that is why they are drilling at Novo under the pits. So what do you think lies beneath there, just dirt when the geology is screaming gold??? All the indications are there and the people who have done their research like Tolga and Tunks are having a very educated investment....so you describing that this as a punt(later post) is very inaccurate, and better off used for two-up.
Do you also understand width re: gold mining..... while sure higher widths sounds good some of the largest gold deposits in the world have widths less than a metre but compensate by having high grade and/or size.....For instance the world's biggest gold mines of the Witwatersrand have average reef thickness of less than a metre. At the moment the average width at Juruena is between 2 and 4 metres and have bonanza grades. (see below-MEI highest intercept of any ASX stock in September)
There is already a sizeable JORC established but MEI are endeavouring to increase this by drilling out untested and poorly tested areas, both established, and 15 other highly prospective areas.
Novo is much bigger than Juruena, and has the potential to be a stand alone gold project. It is 16 square kilometres, probably the largest undrilled gold anomaly in the world! The alteration across the pits is in the 10's of metres indicating that the widths of Novo should be much larger than Juruena. Whether high or low grade it would not matter because of these widths and the size of the anomaly is so large.
You state:
'Not even the high grade hits have no estimate of true widths that I recall and may have been drilled straight down the mineralisation.'
You recall???....why don't you look for sure if you want to inform the forum with accurate information, and you can see this is not the case as in this example below.
You then state in a later post:
'The area is promising but I wonder why the top tier neighbours didn't take it on before MEI ever heard of it.'
Again this statement is false, and again it pays to do some research. Crusader had the tenements
BEFORE any of the big majors including Anglo American and Vale moved into the area and took up huge ground in what is now called Brazil's most highly prospective mining belt-The Alta Floresta. Crusader ran out of money drilling because of poor corporate governance, spending nearly all their money on management/administration and only $30,000 on exploration. Lago was there before them, and had recommended Novo be drilled but again ran into financial difficulty.
Alta Floresta Belt Below:
There is a reason why people including our number one shareholder Tolga Kumova are heavily invested here. If you want to wait until the SP is 10c fine, but there is too much historical and continuing evidence of bonanza grade hits, and rock geology to be waiting on the sidelines here.
AIMO
Update:
Todays Announcement:
Further high grade found at Juruena....Dona Maria extended high grade at depth below the dolerite sill and a large copper-gold intercept a Crentes.
2nd rig at Novo:
E.X.C.I.T.I.N.G.!
(20min delay)
