LCL 0.00% 0.8¢ lcl resources limited

What are your thoughts on the company using gold price at...

  1. 1,734 Posts.
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    What are your thoughts on the company using gold price at $1200?

    Ore Reserves are going to increase a lot if they can update that, right?

    Company also made some deep drilling under Miraflores (Although didn't find anything sgnificant, what they found may increase resources and they can keep on drilling at deepth?

    The important thing is the project is shovel ready for 50KOZ right?

    Which is pretty good as a starter project.

    27/09/2022
    Miraflores drill hole QMDH61 was commissioned on the back of encouraging results from two very
    deep holes drilled earlier in 20223
    that suggested Miraflores’ mineralisation may extend beyond the
    base of the Miraflores Resource envelopes established in 2017. QMDH61 passed through altered
    wall rock basalts before entering mineralised breccia at 151.6m and continued through the breccia
    pipe for a total of 519.1m, ending at 670.7m in hydrothermal breccia. The breccia pipe, the host to
    the gold mineralisation, therefore remains open at depth and to the west (Figure 2), and beyond the
    previously modelled perimeter.
    Of significant interest is the interpreted intersection of the depth extension of the vein 880 ore shoot,
    the principal ore shoot within the Miraflores Resource. This was intersected at 326.3m downhole, 70m
    below the Resource modelling, and reported 1.7 meters at 26.6g/t Au. This high grade ore shoot
    remains open at depth.
 
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