Originally posted by Blake Stone
1. The Tier1 Target identified by EXCO resources as a Magnetic High in a Geophysical Survey. EXCO taken over for $92m by WHSP (Soul Pattinson’s).
2. The Tier1 target then JV with Newcrest Mining.
3. Tier 1 Target happens to be on 1/3rd Ausmex mining tenements.
4. Newcrest drilling to South of Ausmex drilling in August to October. No results yet published.
5. Ausmex 80% on their EPM in JV with WHSP 20% have the highest resolution of the Tier 1 Target that happens also to be the highest VTEM Aerial Geophysical Survey just completed 6 months ago by the QLD Govt. Judging by the graphics Ausmex released drilling by Ausmex appears to be over the Northern section of the Mag high over 1500m long fm N to S and 700m wide and is on the shoulder of the EXCO mag High. So what if the drilling by Ausmex records grades of above 0.3%Cu and 0.5g/t Au and the mineralization lines up with the Mag high over the Tier 1 then Ausmex May be on the verge of a major discovery. I did some rough numbers before. Newcrest are probably shtng bricks to see what Ausmex have come up with and cannot release as well. Because of the tonnes that may be involved the grade is almost irrelavent as long as above cut off of 0.3%Cu and over 0.5g/t Au. Anything over will be a bonus. Anything under will be ordinary. I know I’m going to be called a ramper but hey all of the Geophysical data is done by EXCO and the QLD state government. The fact that the second biggest Mining Company in Australia is drilling it to the south and also Australia’s largest Gold producer is a good sign. Ausmex just happen to be 1/3rd owner of it not to mention the Golden Mile which may be fingers from the Tier 1 and being generated from that Target. Who knows time will tell. At least we all know it’s the early ground story and if this hole comes up with anything all hell will break loose. If it doesn’t well thems’ the breaks. DYOR. I’m a punter.
thems the breaks indeed
think i read in newcrest quarterly they had finished drilling and were assessing results.....not out there with 6 rigs following up massive tier one shared target...but i could be wrong...might ring newcrest to see what they reckon?? Pretty sure theres no rigs out there???
but hey may have been in my dreams...exco imo not that stupid to give away a massive target like that??
Do you understand geophysical anomalies? open file stuff shows lots of conductors presumably the graphitic black shales and the mag anomaly looks deep to me but hey how big could it be?
8km strike by 2km width with those historical grades would make it the biggest on earth maybe even on mars
But more impressively the 30km by whatever burra MT anomaly is probably bigger than uranus
hope the announcement brings me back to reality cos im a bit sceptical if you didnt notice
newcrest shitting bricks dont think so but only IMO
Im a punter too and am just doing the form... AMG still a maiden though as theres no maiden JORC resource yet...etc
xx
