That 2.8Moz is non-JORC compliant, so right now under the JORC guidelines TCG have zero oz at Afema.
That's why they need to undertake confirmation drilling on all the deposits on top of testing for depth and strike extensions. Confirmation drilling can be re-drilling (twinning) old holes to see if similar tenors of mineralisation can be intercepted, and also drilling the thickest and highest grade parts of the deposits to see how the old geological interpretations stack up.
Basically, is the gold actually there? That's the question they need to answer.
Some of the old drilling if it can validated (assay and database records etc.) can probably be used in a new Resource estimate, but if some of the data is unavailable or has been lost, some holes may need to be excluded. If some of the data is 50:50, they're safer just drilling a new hole.
I'm a Geo in the gold sector, and this is just the way it has to be done. Everything needs to be above board.
Afema has big potential, from what I've seen the geological risks appear to be on the low side especially at Woulo Woulo which has very wide zones of mineralisation fairly close to surface.
TCG Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
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