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Gold at Mars?, page-4

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GT8 Sorpresa

1,229 Posts.

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31/05/15

14:19

Post #: 15384836
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Originally posted by mabrook ↑

The initial drill results from Mars AT were certainly good grade and very encouraging.

"Drill hole 14AT003 intersected near surface, high grade gold including drilled thickness intersections of 4m at 5.0 g/t Au from 16 m down hole depth".

Hole 14AT002 targeted a dense body to the south of the Mars Aurora Tank Prospect and intersected intensely sheared mafic and granitic rocks showing evidence of multiple episodes of alteration resulting in development of chlorite, strong carbonate veining and sericitisation. This type of alteration is commonly associated with the development of economic gold and copper mineralisation in the Gawler Craton.

Previous drilling at MAT intersected 2 – 3 g/t Au across a number of holes. The combination of the Apollo result with the historic calcrete gold related intersections bodes well for the potential definition of a significant gold system at Mars Aurora Tank.

That's a 4m thick zone of 5g/t. That is a very good find along with previous drill strikes of 2 to 3 g/t.
However this does need to be followed up with a second round of good grades with more drilling covering a wider area.
We are a long way from proving up reserves, if any, but the signs are encouraging. The comparison to the Challenger mine is from a geological point, only 60km away SW of us and hosted in similar rock formations.
I personally believe it is worth sticking around to see if Mars can deliver, I also think we should wait for the assays from the recent drill samples. It could well be that other base metals might give a strong indication.
Why pay for expensive lab assays if you know the hole was a complete dud?

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Yes AON's previous results, although only a couple of holes, sound great:

" Grade (richness) is crucial. How much bang for the buck are you getting per tonne of rock. If the grades are high enough the above tonnage discussion becomes less relevant. With a near surface potential open pit gold deposit, 2 grams per tonne (a gram is .03215 of an ounce) would be excellent. 1 gram would be fair as long as you don’t have to remove too much waste rock to get at the ore. "
http://www.kengerbino.com/articles/12guidelines.html

AON Price at posting: 6.8¢ Sentiment: Buy Disclosure: Held
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