re: uranium bulls buying. gold bugs selling Hi Vespasian,I think...

re: uranium bulls buying. gold bugs selling Hi Vespasian,
I think the gold assets are great.
At the current price of 17c The Uranium and M2 prospect are probably free.
Thats what makes this share so attractive.

Uranium Drill Results should be here very soon.
Probably next week.

Some points for you all to ponder on this share.

There are two large radiometric anomolies on the AGS Lease. One is the 4 Mile prospect, The Other is about 8km to the south.
Both Radiometric Anomolies look very similar, same size same intensity.
The 4 mile prospect was probably drilled first because it was the closest to the Beverley Plant.

It is known that the most prospective areas, are along existing modern day creek lines.
This is because the creeks of today still largely follow depressions in the Paleochannel.
It is these depressions if conditions are right, that the Uranium will deposit in.
So the area currently excluded due to native title is likely to contain the best Uranium Deposits.
Further negotiations will probably have these areas freed up over time.

The 4 mile deposit looks as though it covers an area of 4 sqkm at least.
The original Beverley deposit is only 2 sqkm
It contained 21,000t of Uranium

M2
The M2 Copper/Gold Prospect is why AGS has this lease in the first place.
5 Diamond Holes are being drilled right now.
The holes are PACE funded (South Australian Government Grant)
The government does not fund holes unless there is a reasonable prospect for success.
This largely validates that the M2 Prospect has great potential.

The M2 Prospect is around the Yudnamutana Copper Field. Historic Workings mined copper of 30% Grade.
The area around Yudnamutana is very rich in copper.
It has remained virtually unexplored for over 100 Years.
Modern Exploration Methods have never been applied to the area until now.

It should also be noted that on the AGS Website.
"At Gunsight, within the licence, reconnaissance drilling has intersected 6 metres of 1.96% copper, with minor uranium (0.18%) and cobalt (0.14%)"

0.18% Uranium sounds pretty good!

It is very unlikely that the M2 Drill results will be excellent as reconnaissance drilling has already proved to be very positive.

The current geological theory is that these rocks are from the same source as Olympic dam.
The uplifting of the Flinders Ranges has pushed the Copper/Gold/Uranium Rich Rocks Closer to the surface

In summary
The most prospective part of the 4 mile deposit is yet to be drilled.
From early drilling it would appear that the 4 mile prospect is already larger than the original Beverley deposit.

The Radiometric anomoly to the south, is most likely to be similar to the 4 mile deposit

The M2 Prospect could well be another Major Copper Gold Uranium Deposit.

The downside of this share is protected by an excellent gold project, that is likely to go in to production shortly.

The Maldon Gold Project has been further underpinned by rising gold prices.