Starting a new thread to try to analyse the Blue Spec exploration potential.
I just had a closer look at the intercept they are quoting (page 11 Investor Presentation
https://www.asx.com.au/asxpdf/20230221/pdf/45lt18827r6sz2.pdf )... 6m @ 40.15g/t Au from 38m in 22GORC016 (including 1m @ 220.17g/tAu from 39m) When you take out the 1m intercept the remaining 5m's = 4g/t. This intercept is located in the Eastern drill zone of Felix
The other significant intercept of 41m @ 2.37g/t Au from 32m in 22GORC009 is located approximately 1500m's to the West.
What I find interesting is both significant intercepts are coincident with a Blue Spec Subsidiary fault. The drill intercepts which appear to intersect the main fault appear to be mainly below 1g/t. The intercepts away from the faulting also seem below 1g/t, are disseminated but quite extensive.
My impression is a significant amount of gold bearing fluids have come from the faulting and have been transported over a wide area but there are zones where the geology has provided traps for those fluids. The gold at Blue Spec is refractory (meaning the gold presents as ultra-fine particles hence the greater difficulty for recovery) which would explain why the mineralisation appears to be widespread but relatively uniform in its presentation i.e. roughly <1g/t when dispersed away from the fault line. However, since the footprint of that dispersal of fluids looks like it extends for 100's of metres away from the main fault that indicates to me the mineralisation event was of a high order.
The early results have discovered 2 high grade zones. I think the prospects are good for repeat occurrences of trapped gold (which also are very high grade) all along the main fault. Both the Blue Spec Mine and the Gold Spec mine are located along the main Blue Spec fault. That gives an exploration strike length of approximately 15k's.
Note: I do not have any training in geology... everything I think is based on what I have picked up trading over the years.
(20min delay)