Besides an exceptional drilling assay: another 100g/m hole and the highgrade mineralisation has extended another 150m East. There are a lot more to like about this announcement:
1. This is the best drilling reportthat was ever written by the company to date. Super clear geo-modeling which included the cross sections so I guess many downrampers would have nothing to complain about today.
2. Drilling is catching up speed again
Last announcement: 4 weeks to complete 14 holes for a total of 4.448 meters. 3.5 holes/week or 1112m/week. May be due to new drill pad and haul roads construction?
This announcement: 2.5 weeks to complete 21 holes for a total of 5.647 meters. 8.4 holes/week or 2259m/week.
Faster drilling = more ounces would be added into the MRE.
3. In the last announcement the company has mentioned that "Geological modelling is well advanced in preparation for calculation of a Maiden Resource Estimate (MRE) for the Ternera Deposit in the coming months." Its just a game of putting drilling assays into a formula right now and the MRE will come up. And we can feel a massive confidence from the company today:
"The emerging high-grade zones at Ternera offer significant scale and demonstrate the potential for Ternera to host a significant gold deposit. Extensional drilling also continues to intersect consistent, wide gold zones with the deposit remaining open in all directions and continuing to grow.”
"To date four, strike extensive high-grade zones have been delineated at Ternera, each >600m in strike, with mineralisation starting at surface to >300m vertically below surface. Each of these zones varies in true width from 15m to >50m with gold grades typically >2.00g/t Au. These high-grade zones occur within broader zones of lower grade (<1.5g/t Au) gold mineralisation."
Rough calculations @Corgi of the 4 highgrade zones that we have known since last announcement. Today's announcement has surely extended these faults and added the ounces. 50 more holes with pending assays to add to our final MRE!
Besides an exceptional drilling assay: another 100g/m hole and...
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