Chart, page-228

This is a fact (the direction of the Shell drilling), that has not really been discussed before.

Just looking at Shells early shallow wide 1980s drilling you could be forgiven for wondering why they only had hits from memory in the mid ones.
(which can be very commercial btw for a large porphyry system).
Brendan has dropped this detail in his conversation to Philley, they were drilling away from the electromagnetic signature we can now see. It seems we know not only the grades Shell hit but the direction of their drilling, this is a very important and useful detail. It helps us target our drilling.

And to be fair to Shell that electromagnetic imagining tech has just being invented in its most primitive forms in the 80s, they probably didn't even have anything to go on but surface geology and pot luck.

They like a couple of less with the times posters on HC only ever want to see super high grades. They were hoping for super high grade gold at Basin Creek...(it was the 1980s and gold was much cheaper even relative inflation than it is nowadays). I think what we are far more likely to find is as the company has stated high level porphyry or epithermal gold.
Epithermal gold Could give those crazy headline grabbing grades, porphyry much less so.

But often a good porphyry deposit will trump all others. Look all through the LF Belt, thats what the region is made on. In WA look at Boddington...all these porphyry deposits bring Australia in Billions of dollars a year most from what on the surface looks like low grades.

But porphyry is about more than grade its about scale. We have 3.5kw plus of strike.

If we find a large porphyry system at Basin Creek its game on even if it were 1g/t average. There is gold at surface for 3.5km plus, personally I like our chances of finding something commercial and if I am right that the starting point for a large commercial porphyry is plus minus 1g/t the bar is not very high we have to jump over especially considering what we see on surface and the scale of the signs at surface.

Its quite possible and even better of course if there is something there thats higher grade and we don't know until we see drill results because Shells drilling was so badly targeted and scant.

Remember it is also possible we don't have commercial quantities of gold at BC.
Thats the risk reward play in front of us atm that the market values at 21.5c a share.

Is the big smart money entering here for BC or are they entering for Sovereign Hill or for both...we don't know?

We can only take note of the buying strength.

But Brendan is excited, Tims wife is throwing big money at it, the majors and trying to get involved, the share price is in the twenties pre results, you would have to say the signs of commercial success at Basin Creek and perhaps one or two other projects is looking very promising.