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another reason price should firm up very soon ....at 6c we...

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joulesmm1

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19/09/19

14:34

Post #: 40483291
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Originally posted by pureau: ↑

Just a little for those who havnt seen it......

These latest results included 6m at 10 grams per tonne (g/t) gold, 348m from surface — the deepest hole drilled by about 80m.
The high-grade shoot within the Penny North lode remains open down dip, Spectrum says.
By the way, when companies talk about going ‘along strike’ or ‘down dip’ this is what they mean:
Source
This RC drilling has now largely defined the orientation of the main mineralised lode at Penny North, Spectrum managing director Paul Adams says.
“It is extremely predictable and robust,” he told*.
“Having said that, the size appears to keep growing as we put more extensional holes into the system.”
Spectrum also drilled the first of four diamond holes into Penny North, intersecting the 2m-wide gold lode “on target” at 221m down hole. Core will be processed in due course, the company says.
Diamond core from Penny North.
This diamond drilling can tell Spectrum a lot more about the orebody than RC does, Adams says.
“With RC you only have a handful of rock chips — you can’t actually see the rock as it would appear, for instance, in an underground mining face,” he says.
“The details and nuances that can be gleaned from diamond core far outweigh the additional costs of drilling, and there are many studies that can be done on core that can’t be done as well on RC chips.
“The infill program of diamond holes will definitely help in producing a JORC resource, but it is important to know that diamond drilling is not essential for its completion.”
For example, this diamond hole showed excellent rock ‘competency’ at depth, which basically means the rock doesn’t fall apart easily. This is a good thing.
“If you are mining underground and your walls keep unravelling or flaking off it would require additional ground support, which is time consuming to put in place and adds cost,” he says.
“A competent rock mass has many advantages over one that isn’t.”

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another reason price should firm up very soon ....at 6c we should expect good support, it'll be considered much better value

the auction dictates and precedes all opinions, supply/demand simple stuff

tomoz mebbe ?

SPX Price at posting: 8.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

1 Great analysis

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(20min delay)
Last 1.1¢		Change -0.001(8.33%)		Mkt cap ! $50.63M

Open	High	Low	Value	Volume
1.1¢	1.1¢	1.1¢	$12.20K	1.109M

Buyers (Bids)

No.	Vol.	Price($)
7	711844	1.1¢

Sellers (Offers)

Price($)	Vol.	No.
1.2¢	10570437	15

View Market Depth

No.	Vol.	Price($)
6	561844	0.011
13	5965475	0.010
12	4786394	0.009
7	6003248	0.008
4	5432562	0.007

Price($)	Vol.	No.
0.012	10570437	15
0.013	8271735	10
0.014	6784520	14
0.015	7363083	7
0.016	7000000	2

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another reason price should firm up very soon ....at 6c we...

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Issues emerging as Australian companies tackle critical minerals challenge

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ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

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another reason price should firm up very soon ....at 6c we...

Top Stories

Ragnar impressed by 11.55 metre pegmatite in Sweden, anticipating further mineralisation

NRW Holdings inks $109M deal with BHP for works at Jimblebar

Sunshine Metals kicks off copper gold drilling at Truncheon; Highway East targets

Week 41 Wrap: HotCopper asks “Back to Mongolia?” for Elixir; US CPI comes in at 2.4%; eyes still on China

Cauldron Energy reports "excellent" uranium assays in latest drill run

Issues emerging as Australian companies tackle critical minerals challenge

Tigers Realm's US$49M sale of Russian assets – to a Kremlin-adjacent billionaire – set to go ahead

ASX Market Open: ASX200 to open flattish after Wall Street weakens on hot US inflation data | October 11, 2024

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Defence MOU for propulsion systems pushes Aurora Lab shares higher

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News