Australia's largest stock trading and investment forum Australia's #1 stock forum

AUZ

16.7%

1.4¢ australian mines limited

The announcement could have had a more positive tone to it.

First 269 Last

Share
Profile

Follow
NinaTheHyena

551 Posts.

39

18/04/16

09:48

Post #: 17528061
Share

Originally posted by christophe ↑

It is still a very good announcement imo as it confirms the fluid event is gold bearing but in the this drill campaign which has tried to target extensions it has only found small intervals of high grade stuff!

106m at .22g/t shows that there is plenty of low grade stuff in these holes but we have simply missed the high grade stuff over significant intervals.

It is somewhere as mrc016 contains it and the diamond is likely to show that and more but from where it extends from there I don't know.

The diamond hole is the only hole by the looks that testes the IP anomaly. So it would seem that is where the high grade stuff is over significant levels and deeper going on the visible gold. It would be nice to think it extends out from there at high grade intervals but finding it is the key.

They will have to analyse the diamond hole before deciding where to drill next. I think we will see more holes around the IP anomaly and initial discovery hole. The diamond hole will tell a lot.

Market which is more reasonable then HC punters thinks it's good but many of us here probably were hoping for more so we could double our money from here. Once they get the diamond hole assays they will be able to work out where to drill next imo.

Expand

The announcement could have had a more positive tone to it.

AUZ Price at posting: 2.3¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

What's causing the cost-of-living crisis, and how to navigate it

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t