I find it quite intriguing when piercing together some of the anecdotal evidence we have so far on the current gold rush:
We have the CRA drill hole that returned 0.5m @ 10.5g/t gold in similar conglomerates some 60km South from Purdy - 1.7km deep. More Purdy like conglomerates deeper were not assayed.
At Purdys we have fines coming up at 9g/t gold.
At Mt Oscar Wits some 16km from Purdy rock chip sampling came up at 10.9g/ton gold in conglomerates.
De Grey found water melon seed like golds some 130km East of Purdy shedding from conglomerates.
Historically fossickers have been finding water melon seed like nuggets all over the place.
If we just use our common sense and put 1 and 1 together we should come to the same conclusion that this is likely to be a regional scale phenomenon. The only questions now is how thick is the mineralisation going to be? Seeing the results of the first bulk sample done so far coming up at 67g/t gold I believe going forward the outcome of this play is no longer a binary one. It is not going to be an all or nothing play. It could be an okay play on a regional scale or it could be big, very big, or the biggest discovery in the history of gold exploration.
So my conclusion is the downside risk from where we currently stand is pretty low. We have a small chance of losing a bit of money and a good chance of making make
a lot of money.
When eshmun starts taking position once this play is derisked and ARV mc is at $ 16 billion I'll likely be already retired.
