Massive exploration upside, page-11

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2020hindsight

547 Posts.

184

24/01/20

12:55

Post #: 42556945
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Originally posted by mal230355: ↑

What budget would you need to drill the multitude of prospects or do you just drill random holes looking for an under cover elephant? That's the problem, some drilling has been done. MCO drilled at All Nations and others I've forgotten. The mob MCO pinched the Waverley(?) Dyke off drilled.
Have you any idea how difficult it is to drill there. I walked down to the All Nations drill pad with UFX. The road would have cost a fair bit just to stick a hole or 2 under a small open pit. The adit was up a sheer climb, how on earth they got up there is beyond me. So it wasn't investigated. The old mine with the richest surface gold was El Dorado, 15 oz/t,that's a priority for me except I've heard access would be so expensive just to punt on a few costly holes.
So drilling vert but where, who would put up the cash unless you had clear guidance indicating a good possibility of success and who could give such advice?
Needle in a haystack stuff and needs someone with DEEP pockets.

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$1million first pass using same logic as ACM/WMC in the 50/60s that led to MS being one of the richest gold mines in Australia:

Pick the 5 best historic mines and drill 1 x 1,000m deep fully cored hole in each dyke.

$150/m drill cost = $150,000 per hole plus mob demon and lab analysis of $50,000 per hole.

$1mill total budget in 3months all up.

Phase 1!

AUL Price at posting: 24.5¢ Sentiment: Buy Disclosure: Not Held
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3 Great analysis

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Massive exploration upside, page-11

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Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

Canadian fieldwork yields multiple pegmatites for Trinex

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

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