Hi Guys,
Firstly I will off the bat say the recent announcements of of NXM have been very good and are one of the more exciting WA gold plays right now, looking to be a great story. The long section in particular is what got my attention and is telling in terms of the significance of the newly discovered high grade shoot.
However I was looking through past announcements in reference to the past long projection intercepts and I noticed something that concerned me.
In the most recent announcement the Long Section key is referencing gram meters. The magenta colour represents an intersection of greater than 50 gram meters, obviously being what caused the price to rise.
A previous hole, DDH21-2 (the sole magenta dot down dip from the newly announced high grade shoot) is also labelled to be over 50 gram meters. The strike between the most recent high grade hole/s and the previous "50 gram meter" DDH21-2 Hole is perhaps 400-500m, which is significant news considering hole DDH21-2 implies or may imply continuity of mineralisation at depth which would work towards amounting to a sizable resource!
HOWEVER. DDH21-2 is NOT above 50 gram meters and it appears the long projection has not been correctly adjusted to since the change in key (I do not imply this was done with malice, things get missed or fall through the cracks every now and then). The Quarterly Activities report dated July 23 2021 has the same long projection however in this long projection, magenta represents maximum pierce point (>5g/t).
Doing the maths of the intercept the ACTUAL gram meters of hole DDH21-2 is roughly 13g/m - which is scraping into the green correlated key of 10-25 g/m. This is less than half the implied gram meters of the current announcement. I thought i would bring this to light in case anyone is investing on the mineralisation continuation in reference to what is currently displayed.
i have attached screenshot/s of the two announcements for visual reference.
