HGO 7.94% 6.8¢ hillgrove resources limited

Guess this upcoming quarterly profit, page-73

  1. VYR
    4,667 Posts.
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    Well done Keith ,

    Looks like your initiative will pay big dividends while growing in value. 0.5c steps are not far away.

    I'm not expecting the MRE update to be too thrilling as most of the drilling in recent times has been stope definition drilling to lift the confidence levels on the resources in the mine plan to avoid waste mining uncertain lodes. We might see a drop in cut off grade to lift the headline numbers albeit with a lowering of grades.

    We lost a pile that unexpectedly wasn't on the other side of the the fault. Hopefully the step out hole that hit pay dirt in the Spitfire lode will add some back.

    Whilst the four holes that have been drilled into the deeps will be interesting in terms of what has been intersected I'm guessing an MRE of those lodes and the north and south hubs will require a lot more drilling.

    Maiden MRE's in new lodes require a lot of drilling after the initial hits to define JORC compliant resource estimates as we have witnessed at HGO during the last 4 years.

    Worth noting also it took Stavely Minerals two and a half years of drilling to get their Maiden 9.3mt resource for the Cayley lode.

    https://hotcopper.com.au/data/attachments/6319/6319492-b34ad7b517b14f2bab287c4e9a628271.jpg

 
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