ADG 14.3% 0.8¢ adelong gold limited

The strike price was half a cent (.5 of a cent) and then was...

  1. 3,487 Posts.
    lightbulb Created with Sketch. 629
    The strike price was half a cent (.5 of a cent) and then was adjusted down to .42 of a cent, due the Cosmo IPO. *( dont ask me why)

    Looks like it will remain .42

    Its .42 of a cent. 0r $0.0042

    I was looking at previous drill results today.

    Obviously grades and metres will be important.

    What will be interesting in is mineralisation is open as depth. Previous historical mining indicated mineralisation was open.

    Looking at the very large deposits, for example,Cadia and Forestville

    This is an extraction from Kirkland Gold's Forestville mine.

    The Fosterville Mine is a high-grade, low cost underground gold mine, located 20km from the city of Bendigo in the State of Victoria, Australia. The Fosterville Mine features growing gold production at increasingly high grades, as well as extensive in-mine and district scale exploration potential.Fosterville commenced operation in 2005 and, during its initial years, produced gold from near-surface, low-grade mineralization. A major inflection point was achieved in 2015 with the discovery of the Eagle zone, containing high-grade visible-gold bearing mineralization, which resulted in a significant improvement in the mine's overall Mineral Reserve grade, production profile and unit cost performance. In 2016, exploration work documented similar visible-gold bearing zones at depth in the Harrier zone. Additional exploration progress early in 2017 resulted in new Mineral Reserve and Mineral Resource estimate for the operation being released as at June 30, 2017, which more than doubled underground reserves to 1.03 million ounces (1,790,000 tonnes) and increased the average underground reserve grade estimate by 83% to 17.9 g/t Au. The significant increase in Fosterville Mineral Reserves was supported by down-plunge extensions of the high-grade, visible gold-bearing Lower Phoenix Gold System. In particular, the Swan Zone (previously known as Lower Phoenix Footwall) contributed 532,000 ounces at an average grade of 58.8 g/t Au (281,000 tonnes) to the updated Mineral Reserve estimate.

    I am not a geologist nor have any expertise. I just postulate that this is what DDD are looking for. Kirkland started with near surface lower grades that were obviously profitable and then they literally hit the jackpot. 58.8 g/t thats about 2 ounces a tonne !!!

    DDD have a economic reserve, they just need to get the plant up and running. There is a very good chance that a significant reserve upgrade can be achieved.
    Last edited by Hoodlum: 09/07/21
 
watchlist Created with Sketch. Add ADG (ASX) to my watchlist
(20min delay)
Last
0.8¢
Change
0.001(14.3%)
Mkt cap ! $7.826M
Open High Low Value Volume
0.7¢ 0.8¢ 0.6¢ $95.73K 13.66M

Buyers (Bids)

No. Vol. Price($)
4 7962780 0.7¢
 

Sellers (Offers)

Price($) Vol. No.
0.8¢ 4067857 10
View Market Depth
Last trade - 13.52pm 20/06/2024 (20 minute delay) ?
ADG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.