WGX westgold resources limited.

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I do think that announcement yesterday was premature in nature,...

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wassa

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14/09/22

20:05

Post #: 63702832
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Originally posted by fitnfam: ↑

your correct about the GCY mill - my apologies,an oversight by me.

The latest Resource update 8th Sept for GCY is what I was talking about prior to their latest crank about visible gold.
The only declared resource figure is dated as at June 22 and not updated for mining to September and is likely that 590K is all but mined by now.so that leaves inferred and indicated only in resource tables.
The resource curves tell you how much economic ore is available in that mix to keep feeding that larger mill profitably if indicated and inferred are accepted as accurate.

WGX can afford to wait,if they even want or need the plant going forward.
They have an under nameplate plant to crank up some more.

add to that the qualifying statement just made.
ASX ANNOUNCEMENT
14 September 2022
Clarification to Announcement on 13 September 2022
Gascoyne Resources Limited (“Gascoyne” or “Company”) (ASX:GCY) wishes to provide a clarification
to its announcement made on 13 September 2022 titled “Abundant Visible Gold Highlights Potential to
Double Extent of Never Never Deposit”.

clarification relates to the provision of additional information regarding significant mineralised
intervals in diamond drill-hole DGDH032. The additional information is contained in the following table:

Im intersect with abundant fine VG (0.5-1%)at 397.5m and 398.5m
4.70 with abundant fineVG (0.5-1%) at 406.3m and 406.9m

Great headline for a 4 visible signs at 4 points over 5,7m in total of intercept.

I doubt that qualifies the following headline

ASX ANNOUNCEMENT
13 September 2022
ABUNDANT VISIBLE GOLD HIGHLIGHTS POTENTIAL TO
DOUBLE EXTENT OF NEVER NEVER GOLD DEPOSIT
Visible gold intersected in +40m-wide mineralised zone from diamond drill-hole DGDH032.

I just hope no-one bought on the abundant announcement Hype.

Regards

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I do think that announcement yesterday was premature in nature, possibly better just sticking to the standard industry assay reporting. Those announcements usually raise questions and concerns and culminate with clarifications. It’s counterproductive Imo ... There’s no doubt filling the mill economically is one of SL biggest headaches ... as I stated I don’t think many will assist. As you say WGX has time.

WGX Price at posting: 84.5¢ Sentiment: Buy Disclosure: Held
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