In reading the old IPO Doco there is no mention of
Wayburn's PNG Drill Results Indicate Large Potential Open-pit Gold/Silver Deposit.
click on below link to see news article report -
https://hotcopper.com.au/threads/wh...3246524/page-63?post_id=23382996#.WM9r0PmGOM8
IPO snippet below:
Enterprise Karuka Open Pit Zones
The Edie, Karuka and Enterprise Lodes occur in an
area 2.4 km long by 200 to 500m wide. Existing
surface mapping is cursory, but there exists a
good trench sampling database from Renison
Goldfields. Surface geochemistry shows gold
enrichment along east-west structures between
the Lodes. Surface sampling by RGC in the late
1980s in the area west of Slate Creek shows
strongly anomalous gold mineralisation at
surface. Analysis of this data has led to the
definition of 7 E-W zones that require further
investigation that may lead to the development
of a significant resource in this area as indicated
in the table on the following page.
The total area of anomalous gold mineralisation
as outlined is 31,567 sq m. If this represents
mineralisation to a depth of 50m, then there the
expected target is about 3.6 Mt of mineralisation.
The average gold grade at surface is indicated to
be 4.5 g/t – which gives a target to a depth of
50m depth, of 0.4 to 0.5 Moz gold. This only
applies to the area west of Slate Creek for a
distance up the main spur of less than 600m.
The
Enterprise Lode has been worked intermittently
in a large open cut in the Webiak Creek area, a
further 550m west, thus potentially doubling
the mineralised strike length and the target size.
Share holders could end up with more than 1 million Au OZ
What say you drill results TL
FID
