Newcrest sank 5 deep holes into the early stage intrusion to the north of current drilling. Deep holes on this tenement are few and far between. Based on the model now available following the drill out of Ridgeway and Cadia East, the later stage porphyry deposits intrude around this structure and not within it. Newcrest drilled in the wrong place. The high grade and wide epithermal gold lodes sit further south ‘off structure’ in the country rock. No one has drilled under this location. This is where we have hit the red rock inner halo and the lithocap. This is where the IP anomaly is. I’m backing an expert in Peter Duerden who knows these systems better than most.
Moreover, major explorers don’t just relinquish or sell tenements because there is nothing there. There are many other factors at play including egos! Plus quite a few major finds are actually made by junior and mid tier exploration.
Sounds like someone could be looking for a lower entry or missed the boat. Oh how it pays to DYOR and do it well! Don’t listen to me either, I share the sources of preeminent experts in these deposits in this state in this belt. Listen to them!
WTM Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)