appox 80km s/w of JunoThere are a few things worthy of note...

appox 80km s/w of Juno

There are a few things worthy of note about this "bonanza" gold assay imho

1. drill hole was testing known, historically tested mineralisation. ie No new mineralisation was discovered.

2. Mineralisation was encountered at a depth of over 500m.

I'm not trying to be negative about this result, but i think it needs to be seen in context.

Recent highgrade assays from Excalibur, Westgold and Emmersons prove beyond a doubt the prospectivity of Tennant Creek goldfield and that yes, the old miners left plenty of gold in the ground.

The westgold hole is the equivalent of EXM drilling their 1st hole straight into the heart of Juno passing thru known highgrade intercepts. At Juno we know this could encounter mineralisation anywhere between 100g/t and 12,000g/t.
It is what i call a 'Directors Hole" designed purely to create a headline and excite the market.(note that they rushed these assays thru the labs, unlikely to see visible gold at that grade, so i ask myself why rush the 1st hole).

Excalibur plans to test the historical data at Juno but its priority and methodology for increasing reserves focus's on discovering and defining new mineralisation outside existing JORC reserves.
Excalibur already has 'bonanza' finds but unlike Westgold we have higher grade at very shallow depth and many many targets as well as a JORC resource with plenty of upside.

Excalibur's project is much more advanced than either Westgold or emmersons and is starting from a base case of 530,000 Oz + we now have confirmation of highgrade copper as well.
So good luck to all TC explorers but my money rides firmly with EXM

BoomTrader