FNT has released comprehensive technical report on its Swat Kia deposit in PNG and reported presence of porphyry containing very high grade Gold, Copper, Molybdenum etc.
Previous trench sample results encountered very grade gold in the rage of 499g/t to 50 g/t. Recent core drilling at one location confirmed thinly layered qtz-breccia porphyry with assay vale of 46 g/t.
Assay results of trench sampling would be out soon and, in my opinion, these would indicate widespread presence of very high grade gold.
No doubt, terrain is very difficult and, it is very hard to set up drill machine to drill at the right angle. It is quite possible that drill did not hit the porphyry as expected. Peter M Neil has recommended geological mapping to delineate gold enriched porphyry zone
Hope next phase drilling would be very exciting. Now, FNT owns drill machine and this would reduce drilling cost substantially. Please note-FNT has relatively less number of shares on issue. Another capital raising would not affect much.
In my opinion, Swat Kia deposit is an outstanding deposit with lot many surprises.
Keep watching.....
Star of the future
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