News: BNR Bulletin Resources Enters Deal With Matsa Resources, page-13

Had a closer look at the Lake Rebecca acquisition during the course of the last week.Whilst initially unimpressed,further research has turned my views around completely.
Work done on the tenement by previous explorers,centered around AC drilling which has its limits with regard to depth,no significant intercepts were recorded and under these circumstances,they moved on.
Enter AOP and their work on the adjoining tenement.Initially AC drilling yielded similar results until RC drilling started to yield some significant intercepts.Amongst these were hits of 42m @ 7.75g/t Au,not indicative of a smaller enclosed system,rather a larger one.Six million dollars later and I would estimate contained resource would be in the order of 300-320k ounces and growing.The strike length interpreted at 1.8km and growing.The depositional nature of the Gold deposit related to Sulfidic alteration. From a BNR perspective this represents a significant free-carry in the interpretation of its own tenement.
A few points to consider from a BNR perspective.
1: the main body of AOP's mineralisation lies roughly 200m to the west of BNR's tenement,and considered to be open in all directions.
2:should AOP wish to develop the deposit via open cut,[which invariably they will],they would have to acquire the BNR tenement in order to do so.
3:having a greater understanding of the nature of mineralisation in the area provides significant exploration upside.
At a MC of $5.5 mil,EV of $3.5 mil,this is my top speccy pick of 2019.