An astute friend has suggested we should all have a much closer look at Golden Pole … a historic mine that sits immediately adjacent to Waihi and which has not been explored with modern methodologies.
Past production up to the year 1939 (before start of WW2 and a gold standard) was 77,000 ounces at an average grade of 29.6 g/t … (holy cow!) down to a depth of 190 metres (presumably the depth where underground water would have became an issue at the time)
Golden Pole looks open at depth and presumably will extend along strike (North/South)
Luke will no doubt be following that potential up asap .. as for those old boys, it must have been like breaking into Aladdin’s Cave.
This diagram below identifies the potential of a parallel lode that may conceptually be mined with a new decline on the way down to Golden Pole
This story gets more exciting by the day …
OBM Price at posting:
$1.08 Sentiment: Buy Disclosure: Held
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