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52.0¢ egan street resources limited

One they start mining they can get some underground platforms...

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Barolobill

7,788 Posts.

189

09/03/18

14:48

Post #: 31648691
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Originally posted by Barolobill ↑

On the exploration potential:

They reckon the whole project could contain up to 3mill oz, wow, but that there could be 1mill ounces down dip, below 400m. Interested to see what that 'visible gold' core delivers, the deepest hole yet on Woodley's.

For the Company to realise a significant re-rating and be counted amongst the +100koz p.a. gold developers, it only needs to continue infill and extensional drilling at Woodley’s and Woodley’s East. Down-dip extensions appear to be the obvious source of significant gold resource extensions which will be most efficiently achieved via underground development and drilling. Any additional economic mineralisation zones on any of the other prospective structures would be a welcome bonus.

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One they start mining they can get some underground platforms and drill out the depth potential cheaper than from surface. The average WA UG mine has a depth of about 750m, but can go to around 2km (I.e Gwalia).

EGA Price at posting: 26.0¢ Sentiment: Buy Disclosure: Held
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