Worth re reading Gibbaz's post.

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MrAu

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03/11/20

12:26

Post #: 48609493
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Originally posted by Gibbaz: ↑

Considering this:

A dedicated thread to keep this out of Charts and Nickel is warranted.

Since we have all this extra time to speculate (or let's be honest, mostly just sit on our hands) - I decided to review the latest update and fit some puzzle pieces together.
While I appreciate the way the announcement has been made, it's also quite jumbled in it's layout - often repeating the same phrases multiple times and skipping back and forth between AC/RC/DD notes hence making it a bit messy. I decided to clean it up a bit and visually summarize the story.

First the AC drilling:

As AP noted - this was particularly interesting. My take on that would mean that this hit of 4m@16g - being 3km from Grace indicates potential for the entire area to be scattered with rich pockets, or just perhaps the entire area is mine-able? waiting for results....

Not too much to add here, we can assume the 37 inset fig2 pending results to have an average grade compared to holes around it and simply add to the JORC.
Looks like that old plant needs to be moved.....

Finally the DD. I must say, i'm hesitant to be optimistic after the last "visible gold" hole was swept under the rug, however the ones targeting Grace deeps could boost the JORC significantly with luck.

RXDD004 has been labelled, it certainly suggests that this NNW corridor could be much of the same material as Grace. Looks about 3x the size of Grace in footprint... potential to triple the resource?

Bullish case would be extension of Grace N.N.W with the DD and the wide net AC holes showing the entire area has grades worth mining. Superpit?
I'll let the resident "realists" to give us all the bears case.

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Worth re reading Gibbaz's post.

RXL Price at posting: 5.5¢ Sentiment: Buy Disclosure: Held
4 Upvote

0 Great analysis

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