Just reiterating but relevant:
Some evidence this south west anticline from the pit is huge having the potential to host massive gold mineralisation:
1. Geophysical 3D interpretation:
2. 40 metres south of the pit MEI intercepted
broad veining and alteration zones of 94 metresapproximately 40m south‐west of the existing open pit!PRESS HERE3. Historically a drill hole tested for gold mineralisation a further 100 metres south of the pit, and they found
a stellar intercept!This is going the early crow but I would not be surprised if our first tier one deposit will be closer to home.
BTW let us not forget what was already under the pit floor.
Which are therefore fantastic numbers by anyone's standards!Below is the orebody beneath the pit(red line)....To paraphrase Dr. Andrew Tunks, Managing Director of MEI:
'Long runs of intercepts of 30, 40 ,50, 60 metres wide....Amazing high grade numbers in these 50, 120 130 gms(figures in diagram)...big wide orebodies with very low internal dilution which is ideal for open pit mining.'
There is unfinished business at Palm Springs-Butcher's Creek!The only reason the mine was abandoned in the 1990's, including many mines in this period
(e.g.Bellevue Gold-BGL)was the low price of gold as the cost to produce an ounce was more than the price of an ounce. Now the POG is 5.5 times more than in the 1990's!, and with the global financial crisis due to Covid-19 predicted to continue to rise in the future-
PRESS HEREThe nice thing about the Butcher's Creek deposit is that there is:
1. A great un-mined deposit with a ready made pit open at depth and down dip to the south
( plenty of drill targets)2. Because of little internal dilution you have a low strip ratio which is ideal for open pit mining reducing costs.
3. The geological structures responsible for hosting this type of mineralisation repeat along the strike-e.g. a massive southwest anticline showing already 94 metres of broad veining and alteration zones south of the pit in MEI's first cores and and intersecting potential gold mineralisation
ALMOST 300 METRES SOUTHof the historic Butchers Creek Pit.
4. Long mining licences are already in place
What I like is that we have a plethora of drill holes so a lot of upcoming assay results for the next few weeks and months that will tell us a lot of about this interpreted massive anticline. All I can say for now it is very encouraging
seeing the broad veining and massive alteration under the pit, 40 metres from the pit, and intersecting potential gold mineralisation 300 metres from the pit.Let the assays now do the talking!
With results imminent at Butcher's Creek expect FOMO as we await results.
Exciting Time for MEI holders!
AIMO
(20min delay)