G88 0.00% 1.1¢ golden mile resources ltd

what's the downside ?, page-17

  1. 2,606 Posts.
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    Interesting times.

    G88 have now been drilling for almost 2 weeks. They are doing RC which is quick to drill and produces a sample ready to dispatch to a laboratory (or use portable XRF in the field) immediately after drilling, compared to diamond which needs metre marking for depth, geo logging, half cutting (for exploration) and sampling, which adds time to getting results. Geo logging for RC is done on chip fragments taken from the spoil/reject material, independent of the laboratory sample.

    SGQ are starting drilling this week at Mount Alexander, RC and DD, also generally a shallow primary sulphide target like G88. Their MAD71 hole last year (17m @ 3% Ni) was almost a company maker, but 20m step out drilling failed to prove up continuity. I suspect MAD71 drilled at a very shallow angle to the mineralisation, so overestimed the true thickness. The majority of their other better holes are in the 2-4m thickness range, at similar high grades. I suspect the market will be disappointed if results this year are in the 2-4m thickness range, not 17m. Still promising though at those widths/grades at shallow depth.

    GBR are to follow up their highly interesting gravity anomaly at Mt Venn. I triple bagged this stock last year on their original Mt Venn work but sold out as the system there was Cu rich, Ni poor and thus lower value to G88/SGQ. The new identification of the new intrusion in the eastern mafic complex is significant as it could hold the Ni rich part of the system. Follow up is early stage (air core, EM survey) compared to G88 and SGQ, so the true deeper potential here won't be know for some time, after detailed targeting work combining the new AC and EM results. Technically excellent team running this. I plan to buy on dips given there is still time.

    G88 is likely to have the first results of those three companies, and the upside is huge given this is the first time they will test for primary sulphides. GBR are 6-12 months behind G88. SGQ already have primary sulphides, getting consistency will be their challenge this year.
 
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