The gamblers in Londons AIM listed THR, departed in droves today on the announcement of copper and associated gold mineralisation. Why? I can only assume they wanted lumps of gold in the rock samples from drilling and an overnight doubling in SP.
Now geo's may not be in such a rush to sell, THR have delineated a linear zone of copper mineralisation with associated Gold, open at ends. True Gold values are not exciting, but they are only from the near surface of bedrock. The shallow drilling certainly appears to be successful in delineating a mineralised zone, which now requires some deeper drilling.
Now did these sellers in London understand what was learnt about the bedrock geology? Some comments from any geologists would be very welcome?
"Anomalous gold values (>10 ppb) occur in 16 of the 66 holes, mostly coincident with the axis of the geochemical anomaly. More importantly, peak values of 174, 75 and 62 ppb are considered to indicate the occurrence of gold mineralisation (Figure 2). Each of these samples is located within the copper-anomalous zone described below and each is associated with an elevated copper assay. In each case the material sampled is semi-fresh weathered bedrock, without visible evidence of supergene remobilisation. A fourth high value (144 ppb) is recorded in saprolite towards the western end of the northernmost drill traverse and may reflect a separate feature."
I suggest any geo's reading this compare with Tropicana geology. I have taken a quick look.
THR Price at posting:
6.1¢ Sentiment: ST Buy Disclosure: Held
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