News: AUZ Australian Mines announces capital raising, page-82

Well we should know this week I reckon.

It'll be 3 weeks early this week since results were submitted and I expect we'll get some news either Wednesday or Thursday with a TH if needed tomorrow or Tuesday.

You would safely predict that one of the 15m zones carries gold and at a good grade at 9gt. Whether the other zones across the 120m area drilled also contain gold well who knows at this stage. Ben probably has a good idea and if we are to believe everything said and the positivity of the announcements and the raising and taking into consideration of the previous hit there is more chance of them containing gold then not.

Unlike other gold discoveries I have seen of recent which seem to contain thin veins that dip in all directions this looks to be quite a big solid block of mineralisation that at the moment is open in all directions over a 400m strike and 120m depth from 120m or so. Depending on the grades it wouldn't be hard to see a feasibility study smash this out of the water as being a very economical resource even with a much lower gold price!

All depends on the assays this week though. Won't get too excited just yet as stranger things have happened!