Hello fellow HC members. I am not going to answer the "question" as that is up to individual investors and their "best personal fit" considerations.
The story of this deposit is evolving slowly however at a normal pace for such a large system. The path has not always been smooth. I teach my clients that gold deposits do not form in isolation and this is why fractal experts are employed by mining companies to calculate the various levels of the fault systems. Bombora is part of this "new" gold camp which is part of the Yilgarn Craton which forms the major pressure cap that was necessary to concentrate hydrothermal fluids to form economic gold deposits. The fluid pathways are the major fault systems. You need the fluids to be forced into concentrations according to the current theory and it does make sense. This camp is a very interesting case. Remember also that no two deposit systems are the same.
The new developments in the BRB story fascinate me including page 8 of this latest report. The Swan Lake Syenite is a very large intrusion, the magnetite and Mo and W are important pointers with Fe being an important chemical trap for gold. This is associated with a deep crustal fault system that is highly fractionated lending it to be an ideal structural trap for deposition events (gold dropping out so to speak). Similar deposits also exist in Canada so this may assist you to understand what we are seeing emerge. Electrum most certainly understand it so you had better do some serious research if you hope to get educated enough to understand potential or lack of potential here. We have a greenstone belt and most of the factors listed here so it is relevant in my opinion. **** "A distinct group of gold deposits in the Abitibi greenstone belt is spatially associated with quartz-monzonite to syenite stocks and dikes. The deposits occur mainly along major fault zones, in association with preserved slivers of alluvial-fluvial, Timiskaming-type, sedimentary rocks. The deposits consist of disseminated sulfide replacement zones with variably developed stockworks of quartz-carbonate-K-feldspar veinlets, within zones of carbonate, albite, K-feldspar, and sericite alteration. The syenitic intrusions are broadly contemporaneous with deposition of Timiskaming sedimentary rocks and, together with disseminated gold mineralization, they have been overprinted by subsequent regional folding and related penetrative cleavage. Disseminated gold orebodies occur within composite syenitic stocks or along their margins, along satellite dikes and sills, and along faults and lithologic contacts away from intrusions. Orebodies in these different positions are interpreted to represent proximal to distal components of large magmatic-hydrothermal systems centered on, and possibly genetically related to, composite syenitic stocks." **** We already know the mineralization at Bombora carries along faults and outside the dolerite which was part of the host rocks. Now we discover the areas outside carry far more potential and that is a significant discovery. The anomalous gold is accompanied by widespread magnetite-rich alteration and local shearing and quartz veining in all rock types near the margin of the Swan Lake Syenite (intermingled dolerite, basalt and syenite).
They are yet to find the "pockets" of higher grade material that might form economic deposits yet we now know the system is there. Laverton, Granny Smith and Wallaby lie to the north along the same fault system. The fact that some significant hits have already been made on recon drilling might be luck or it might indicate a wider potential. The starter pit and core underground potential is enough to get my interest and now we have so much more upside potentially looming. The understanding of the overall system will enable focused drilling that can result in an interesting news flow at a time that large discoveries are rare, very rare. Therefore any confirmations that may evolve in this setting at this point in history would be highly significant to those who understand a bit about geology and the current market conditions.
Good luck to all and DYOR. I mark "none" as my sentiment deliberately as that is commercial and personal. Yes I hold shares.
BRB Price at posting:
26.0¢ Sentiment: None Disclosure: Held