Short Term Trading Week Starting: 19 August, page-42

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gottalove

19,152 Posts.

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21/08/19

09:25

Post #: 40069150
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Originally posted by Michaeljob: ↑

Took a few CNB recently primarily based on their Tick Hill gold project which they are currently drilling. Like BGL and SPX the project is based upon defining new minerilisation surrounding an old high grade project. The Tick Hill mine produced 513k oz Au at 22.6g/t at a time when gold was selling for $US350/oz. It was one of Australia's highest grade gold mines.

CNB have a 10,000m drilling campaign underway to test extensions and repetitions to the mined deposit with a view to define a continuation to the high grade deposit offset from the known fault. First drill results from Tick Hill are due anytime

Recent drilling results from the nearby Mt Birnie project have delivered strong copper results;
15 m @ 2.10% Cu, 0.23 g/t Au from 24 m Inc 6 m @ 4.41% Cu, 0.47 g/t Au from 33 m
17 m @ 3.14% Cu, 0.24 g/t Au from 84 m Inc 3 m @ 9.33% Cu, 0.99 g/t Au from 76 m
21 m @ 0.91% Cu, 0.11 g/t Au from 13 m Inc 8 m @ 1.83% Cu, 0.20 g/t Au from 20 m.

Mineralisation and alteration style at Mount Birnie is identical to large scale IOCG deposits in the Mt Isa district such as Mt Elliot, Osborne and Ernest Henry.

The southern extension of the main Tick Hill lode has not been mined immediately below the open pit. Un-mined true width underground drill results from the southern extension include: 
2 m @ 104.2 g/t gold
5 m @ 20.6 g/t gold
3 m @ 16.9 g/t gold
1 m @ 16.8 g/t gold

SOI 96m
MC 12.5m
Cash $4.04m (30 June 19)

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Good morning Michaeljob.

Nice to see at least one of you 'heavyweights' finally waking up to CNB.

With only around 40 million tradable shares and gold drilling results from historical high grade gold mine imminent, I can't believe this has somehow slipped under the radars.

XAO Value at posting: 6,627.4
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