If a hint of a Penny Project or Penny West or even a Magenta let alone a Younami Deeps deposit (all on strike) was found at Penny South the market cap would jump to at least $100m in a heartbeat. But Penny South has been drilled out with at least 600 AC and RC holes. Aldoro put some serious money and effort into exploring here and came up empty-handed. In fact drilling all along the Youanmi shear zone south of the Penny deposits have been dusters. Rox Resources and Venus metals spent a couple of million on south of the Pennys targets and failed. The company says most of the holes were shallow AC. Yes but they were targeting by putting EM conductors at the bottom of the holes and checking for demagnetised gold hosting mineralisation, There is the odd flash of gold but the Youanmi area of famous for random high grade gold. Huge rewards here for a big find but the likelihood is about the same as winning the lottery, My opinion DYOR
AUE Price at posting:
17.0¢ Sentiment: None Disclosure: Not Held
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