previous explorers including western mining and goldphyre itself was drilling for gold and base metals (and did a lot of drilling on the lake) in the rocks under the lake and all this pesky salt water was intersected in the drilling. Goldphyre was able to use the logs from the western mining drilling to estimate the 1.6 billion litre saline Aquifer on the tenement. That's how I knew the drilling program was going to be a success and why I bought a shit load of shares! Anglo gold are still in the area looking for gold in adjacent tenements.
based on the grades released and confirmation of the aquifer extent I think we can be confident a 4Mt + resource is likely.
Only 2Mt is needed for the planned 100ktpa project for 20 years.
I don't think the market has priced this in either yet.
APC Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
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