Looks like the Gold Sniffer Macnab is onto something big at Crater Mountain! More drilling is needed to prove up the widths and grades but with his first deep 1000m drill hole he found mineralisation similar to what has already been found in the shallower area of the mountain.
There is a gap of "dirt" basically called the (chim formation) of between 150-200m between the shallower gold areas he has already found and this deep seated mineralisation.
Mr Macnab believes this deposit is similar in nature to the Wafi Golpu deposit where there were multiple volcanic events that cause different gold structures on Crater Mountain.
This latest drilling result is very exciting since it actually found copper/gold/base metal mineralisation in the deep seated formation.
He is now planning additional drill hole to go 200-300m deeper than this 1000m hole to try and get a better understanding of this area of Crater Mountain.
We just need to let the Gold Sniffer to keep drilling and getting a better understanding of the gold mineralisation at Crater Mountain, as the price of gold continues to hover above $1700/Oz, it makes a lot more of this gold profitable to mine, meaning an even higher resource.
Got to love the Gold Sniffer!
GOA Price at posting:
1.7¢ Sentiment: LT Buy Disclosure: Held
