Hi all.
I am surprised we didn't see better than that today but the news is still fresh and there is much more to come.
Plenty of upside yet.
I know that we will have our own personal numbers to calculate and will no doubt be biased in our own favour.
Our old mate Shamer had his geo look at it and this was his response below.
I am told this guy is in his 70s so he has been around for 50 or so years.
Old school and conservative, definitely unbiased.
Hi Shamer ,DEG appear to have achieved outstanding results from their Hemi Project in the latest drilling results.
Gold occurs in sulphide altered diorite in two roughly sub parallel zones, known as the Aquila and Brolga Prospects.
Geologically the results are amazing.
Seeing as the entire deposit is concealed below about 30m of cover.
I guess you have studied the drill holes pretty thoroughly so I won’t repeat the details here. However, it is significant to note that the strikes of both prospects are open ended and that at least two drill holes were still in ore when they were terminated.
Furthermore, it is likely that the two prospects may be interconnected, as the ore is related to a diorite intrusive of irregular shape!
You've requested an as at figure for a JORC inferred gold resource at this exploration juncture.
So, just a ball park calculation (don’t hold me to this. This is premature).
I estimate that the Aquila Prospect has about 8 million tonnes of ore with 618,000 oz. Au currently defined.
The Brolga Prospect has about 12 million tonnes of ore with about 880,000 oz. Au currently defined.
More results are in the pipeline and if they are as good as previous, DEG appears to be on the cusp of a very large economic gold resource.
Let me know what you think of my estimates.The above figures give us another 1,498,000 oz to add to what I have already guestimated to be 2.2m oz before Hemi and before many other drill holes to add.
By the way that guestimation of 2.2m oz also came from Shamer and given to him by a very reliable source.
Imho, I think it is conservative to say that we now have around 3,698,000 oz in our inventory.
Anyone is welcome to question those numbers and I will not get into any debating discussion about it as it is still too early to have any definitive numbers, but at least we can get an idea as above and from a reliable source.
I hope that helps and Shamer reads these posts so don't hesitate to thank him.
I have increased my sentiment to buy on the retrace today as I think this is going a lot further but remember this is all imho.
Kind regards, Wack.
Expand
(20min delay)