So I had a good listen to the Hidden Gems webinar from...

So I had a good listen to the Hidden Gems webinar from yesterday. Put this together for folk here, some interesting snippets IMO.

- I think it's great that Amanda (AB) personally knows the geologist who appears on all the WA8 slides. She calls him an “incredible geologist” who spends “weeks at a time” out on the land meticulously mapping the project. She made several references to WA8 having a small, high-quality team, including the 3-person BoD that each bring different backgrounds and skillsets to the table, but operate very well together.

- WA8 has permitted tenements of about 813 square kms, and AB describes it as: “A commanding land position. We own the entire greenstone belt. It’s actually 70km of the main mineralised sheer that we own. There is an incredible opportunity for scale at this project”. Several mentions were made of the size of the WA project, all on permitted mining leases.

- The deposits in the wider region 'all tap deep' (RMS at Mt Magnet is mining Au at 1400m), these deposits often start shallow and just keep going. The average drill depth on our project is only about 43m. We really have no idea how deep these deposits go.

- I didn't realise that the existing plant that WA8 owns can only process soft, shallow oxide ore. Because of this, the previous owners of the site had no interest in exploring the fresh rock (hard) zone- that’s not what they were about, they were only drilling for shallow, oxide resources in close proximity to the mill. This is a hugely under explored/drilled region.

- Regarding spending and strategy: “We are spending our funds in the ground as much as possible, and that is really paying off for us … Every hole that we have drilled this year has hit significant gold, and we plan to keep that record”. This ethos aligns with excellent numbers reported regarding drilling dollars vs. 'wages' - 75% of WA8 funds spent on drilling which is fantastic, the average is closer to 50-60% from memory, but happy to be corrected on that.

- Personally, I found this passage the most interesting of the webinar. In response to a question about how the Golden Corridor project compares to the projects of our larger neighbours (CMM, RMS), AB stated: “So we look at that closely, and also look at the history of the development of the project. So, lets look at Capricorn Metals, their Mt Gibson project. They got that in 2021 and it was 2.1 million ounces they’ve got it up to 3.2 million ounces, they’ve drilled 200,000 meters of RC I think, and it’s a very similar scenario. Now they are excellent low-grade operators. We would like to replicate what we see there on our own ground. But we have the additional... we’ve got these high-grade shoots that we are chasing, as well as defining a lot of low-grade shallow gold. We’d like to copy Capricorn, but also what we’d like to do is look at what Ramelius to our North-East at Mount Magnet… I mean they are mining at 1400m [deep], and you look at where they started, they started in a similar situation to us, with these shallow, oxide gold resources, several open pits, and no real understanding of what was at depth. Fast forward to now, they’re mining at 1400m. And the average drilling across our ground is 43m. So it is a remarkable opportunity. The deposits in our belt they do tap deep. It is the nature of the system here.”

- Regarding at JV for the Big Springs project in Nevada (1million ounces on a permitted mining lease, right next to a 10million ounce mine complex, drill program ready to execute, ore is compatible with mill we can truck to), AB stated there was nothing specific she could disclose, but that “..we have had good interest this year” and “There far more interest this year than there was at the end of last year. I’m optimistic we can find the right path for that project”

- There was also this slide on the drilling program which I believe is new:


DYOR etc.

Cheers.