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m0ngy

10,075 Posts.

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30/07/23

10:07

Post #: 69059775
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Originally posted by m0ngy: ↑

Thanks for your response which I think summarises the consensus view on this thread.
Following are a set of evidence based statements which for the sake of brevity I will provide the evidence for on request.

(1) Block 4 gold is much more likely to be found at depth.
(2) Comparatively little exploration of gold at depth has been carried out so far.
(2) S2 has a very small budget for a new discovery at depth where there is not a significant data base of pervious exploration,
(3) S2 is using a staged approach leading up to targeting gold at depth, a range of modern geo techniques will be deployed.
(4) Block 4 is the most urbanised of the 4 blocks and stringent requirements are in place including the need for land owner permission (can cause lengthy delays but probably not stop exploration). S2 have committed to up to 600m clearance between drilling and houses.
{5) Unlikely discussions with land owners can start until the licence is granted?

Conclusions:
No targeted drilling in the Quarter when S2 is funding targeting exploration ie identifying targets which explains the small exploration spend,
New funds allocated for exploration will depend on outcomes of the targeting exploration and access gained to prime targets.
So S2 is not going to be starting soon to drill targets at depth and imo will not do so before the end of this year and perhaps Q1 of 2024.

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All imo of course and please request evidence for any of the statements you do not agree with.

S2R Price at posting: 17.0¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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