The resource estimation for Queens could prove to be important....

The resource estimation for Queens could prove to be important. It sounds like the mineralisation in the lode may allow for a longer estimation than the typical couple of years that goes with these nuggetty systems. A1 has 150 years history but probably never been certain of more than a couple of years of reserves at a time. It's kind of remarkable really, wonder what might lie still beneath?

If A1 can be shown to have more than say 5 years (say 150k oz at high grade) readily accessible the market might get more comfortable about the market cap it's willing to give. I think shipping ore from Queens is a re-ratable event but I tend to fail on the side of optimism.

The other noteworthy part of the announcement was that the drill rig at A1 has been shipped to Maldon and on time.
Firstly that means the geos and engineers are satisfied they have enough data for the next block of planning.
Secondly I'm taking it as confidence in the current progress at Maldon.
The Maldon drilling campaign announcement was July 19. Say they took a bit to get prepped and started drilling at start of August. To me that implies, depending on depth and number of shifts run, they should already have at least a couple of full drill core that have been reviewed by the geos, off to the labs and with first assays due soon. If it's a 10 week turn around from review to returned assays, that would put us at mid to late Oct for first reports. Labs might be even slower at the moment with Victorian covid restrictions.

What's the conceptual resource target at Maldon? I haven't seen enough data in the company material I've read to really have an idea.
It has to be encouraging that there's a decent number of historic holes with intercepts that are at likely economic grades. The targeting model below suggests some good numbers based on the size and scale of historic mining.

Rough eyeball suggests if each of the target areas were viable then maybe the historic recoveries might be duplicated? Are they all viable? Totally speculative but since it's sedimentary rock and gold is heavier that most of the other elements in it, then, if it's all formed at similar geological time then it seems a reasonable hypothesis that there should be more gold below that already discovered to have been deposited. Totally layman inference there - the geos around are very welcome to correct and educate me!!

The same model also suggests to me that it could be valuable to have the ground to the south of this picture. Let's see what 2 working drills can uncover over the next few months.