Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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07.56 Bamps - In the 6 November 2019 RNS GH was very enthusiastic about the prospects in the Patterson Range East so hope all goes according to plan.
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RNS extract 6 Nov 2019
·; Eight high-priority targets have been identified following modelling of detailed magnetic and gravity data, including four primary targets:
o Goliath: Originally identified as a very high amplitude, bulls-eye magnetic feature in Greatland's recent aeromagnetic survey, new data shows a very large amplitude gravity anomaly semi-coincident with the magnetic anomaly.
o Los Diablos: A bulls-eye, high intensity magnetic anomaly located in a structurally favourable position with a gravity response of moderate to high amplitude coincident with the magnetic feature.
o Prefect: A high amplitude magnetic anomaly with a semi-coincident moderate amplitude gravity response.
o Atlantis: Characterised by two distinct east-west trending high amplitude magnetic anomalies on the western edge of the tenement, new ground gravity data has defined three target areas within Atlantis.
·; Mobile Metal Ion ("MMI") sampling has been completed at 200m by 200m sample spacing over all key Paterson Range targets. MMI results are pending and will be incorporated with latest data sets to prioritise targets for further geophysical work and drill testing.
·; Limited historical drilling was conducted in the early 1990s at each of the four primary targets but drilling failed to adequately test these targets with most holes too shallow to intersect the modelled anomalies.
Gervaise Heddle, Chief Executive Officer, commented: "The results from the recent geophysical surveys at Paterson Range East further advance our knowledge and understanding of an underexplored part of the Paterson which has outstanding potential to host tier-one gold-copper deposits. In particular, the Los Diablos and Prefect targets share very similar geophysical characteristics to Havieron, and appear to be under significantly less cover than Havieron.
"Our systematic exploration programmes across the Paterson Range East and Scallywag prospect areas this year have successfully highlighted a dozen high-priority targets. We look forward to advancing this exciting set of opportunities as we continue to accelerate our exploration activities in the Paterson region."
Hi Morningsun
The magnetic sources haven't shown mineralisation in the old reports for Outamind and Prefect, Gold results were poor.
I think this is the reason for only having MMI results reported for Goliath.
I am nervous that this anomaly may not be mineralised but looking at all the data it looks very promising and described as a very high priority target.
The magnetic anomaly is fully coincidence inside the gravity anomaly so I would expect high alteration levels in the gravity anomaly if the mag anomaly is the hot zone.
If it is the hot zone it could be mind blowing:))
@Bamps
Thanks for your analysis. You're not making sense to me here.
"The drilling is targeting this intrusion, it's contour volume indicates about 2.1bn tons so 4 x Havieron."
And
"I'm still hoping enthusiastically that Goliath will be the one but am tempering it a bit and not hopeful for the other 3."
Why do you say in our sentence that the contour volume indicates 4* size of Hav and in the second sentence you say 'but tempering it a bit.
What makes you hesitant about Goliath as to me 4* Hav is massive.
Thanks
MS
The historical NCM data on the 4 targets Outamind, Prefect, Atlantis and Havieron from 1991 and 95 has put doubts in my mind over what they might find.
Reasons to temper my enthusiasm:-
Outamind and Prefect hit the magnetic source with no obvious mineralisation according to the report. The magnetics at Outamind look weak apart from one spot.
On these 2 targets though the assays showed low levels of alteration minerals.
Also the drills were not deep enough or aimed in the right direction.
Atlantis is different they drilled in right place and in the right direction and found good copper readings 2100ppm but again they didn't drill deep enough.
All 4 targets had assay results very similar in the cover and into the magnetic anomaly i.e. weak alteration values.
When compared to The Scallywag alteration they're nowhere near as good.
Outamind has 480m of cover it caused all sorts of problems for the drills , gravity surveys and downhole logging.
Prefect and Atlantis have about 90m of cover.
Goliath looks different, I've not seen the drill data but the survey models do not look like lithologies.
There looks to be a magnetic intrusion coming up through the gravity anomaly from 1200m up to 200m.
The drilling is targeting this intrusion, it's contour volume indicates about 2.1bn tons so 4 x Havieron.
In 1995 they knew Havieron was there but the technology was not advanced enough to tell them where, so they went looking for shallower stuff and didn't find any.
New survey techniques and vectoring have come to Ggp's assistance.
I'm still hoping enthusiastically that Goliath will be the one but am tempering it a bit and not hopeful for the other 3.
Another 1p rise today will do us, especially if spot price moves back towards $1800.
BTC down over $15k in a week.
Also - it's clearly visible on the satellite image this morning. You can see the difference in the activity around the camp site in the compare with the last available image on the 20th April. The drill site was only just a clearance then as well - you can quite clearly see exactly where the drilling is taking place now.
https://twitter.com/paddygall1/status/1385472869396791303?s=20
Exciting times indeed - Paddy
Nice picture on Shaun's tweet this morning of the rig drilling up at Goliath.
https://twitter.com/shaun_day_/status/1385472630703071241?s=20
Let's hope for a HAD001 or HAD005 result from the drilling up there - come on GGP.
ATB - Paddy