Member Info for PaddyGall

Yes Stout - I noticed that Callum's page 12 showed the historic drill cores from Havieron and the forward modelling that they had done prior to drilling Havieron.
I keep saying this - we are only second guessing from the publicly available information, which is probably only a minuscule amount compared to what GGP & NCM have. So NCM have all this modelling and drilling data and are literally throwing the kitchen sink at Havieron.

Read between the lines - Paddy

Flashy - I do check every 5 days to see if anything is stirring in that area but I would expect to see an RNS from the company prior to any work starting there anyway.

Nobody should be disappointed - presentation was exactly as per the pdf that was linked to on the GGP website.

Callum re-iterated the system was shaping up to be a large, high grade system that was still open to the NW and at depth.

So you either trade it or sit on your hands - I know what I'll be doing.
ATB - Paddy

Hi MS,
I was just pondering that myself - I presume the pink is the sulphide zone and the blue is the breccia. They know the sulphide zone goes down to 1200 minimum.
So if we take the bottom of the pink as the bottom of the known sulphide then they are suggesting that the breccia continues on at least as far again. OMG

I agree Academy - I was really pleased with the presentation and I though CB came across well and it was informative. I loved the slide that CB highlighted that showed the 'breccia pipe' in cross-section with the 400 x 1000 m dimensions on it and he was at pains to highlight 'still open at depth'
ATB - Paddy

Hi launder,
Yes that's my limited understanding of it anyway. I found this article online that explains about IRGS systems and the differences with other types of deposits.

https://www.sciencedirect.com/science/article/pii/S1674987115000808

There's a very interesting paragraph about Telfer in there.

'Telfer lies in a thick carbonate-bearing stratigraphy with units contrasting in rheology in the roof zone of a regional anticlinorium, again with the first-mined, relatively flat-dipping ore zone fortuitously adjacent to the present land surface'

So we know Havieron, Scallywag and all the other targets lie in the same 'carbonate-bearing stratigraphy', and I guess they would all have been subject to the same mineralising events back millions of year ago. The only difference with Telfer as it says above is that 'the first-mined, relatively flat-dipping ore zone fortuitously adjacent to the present land surface'

Therefore Telfer was only discovered because there was outcropping of the ore that was discovered easily. So we can assume that there will be other Telfer's in the region that are completely covered and we seem to have discovered the first one at Havieron.

Paddy

From GH's Tweets it sounds like the presentation was focused more on future exploration plans and how they used the AEM & MMI results to initially target at Havieron and therefore use that knowledge going forward with the new exploration.

Shame really that the technology let them down - Paddy

Guys - I think the initial thoughts on Havieron where that it may be an IOCG deposit because of the magnetic signature that it was producing on the AEM survey but I think from the drilling results it has proven to be more an IRGS system (Intrusion-Related Gold System).
This is a similar system to what Hydrogen explained in that mineralising fluids from a granitic / volcanic system flow through faults / cracks in the earths structure and as they cool the metals react with suitable host materials in the breccias and fall from the fluids and sit there waiting to be discovered.
Also if there are multiple 'mineralising' events this can have the effect of 'upgrading' the system as the initial ore gets 'overprinted' with new fluids.

ATB - Paddy

Starvest update on GGP

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/SVE/14529019.html

launder - I believe that NCM have been this excited about Havieron ever since GGP hit with HAD001 which was probably 9 months before the actual farm-in was agreed.

NCM already had a good idea that there was an economical ore-body at Havieron from their drilling in the 90's but they had let it go as there were other 'lower hanging fruits' for them to exploit back then.

I think they are more than happy with their results to date (Gervaise & Callum) both said at the GGP AGM in December that they had enough data at that stage to formulate an MRE so we're 6 months further down the line with 3 more sets of excellent results and about to enter the 'growth phase'.

The downhole surveys will be providing them with invaluable data and even 'Mike Nossal' from Newcrest said in the podcast he did that they were getting very good at predicting where the high grade sulphide zone was - to me this means they have now got enough data to be able to tell from the downhole survey responds what is the sulphide zone and what is the background breccia.

The only thing that complicates this now is they are also finding high grade materials in the breccia as well - nice problem to have.

GLA - Paddy

Ah ok - I misunderstood, and I agree wholeheartedly - lets get 10-15 holes into the heart of Scallywag and then go hammer out a JV / Farm-in with any interested parties and if NCM wants it they will need to match the offer.

I'm curious as to why you think any JV's on Scallywag wouldn't as generous as Havieron?

ATB - Paddy

Thanks for your thoughts CB, appreciated as always.

Satellite image for today has just appeared - nothing too exciting, a couple of areas that look like they might have been cleared and a couple of infill sumps seems to have expanded in size.

https://apps.sentinel-hub.com/eo-browser/?lat=-21.72675&lng=122.64733&zoom=15&time=2020-05-05&preset=2_FALSE_COLOR&datasource=Sentinel-2%20L1C

ATB - Paddy

I've heard the Black Country referred to as a few things since I moved here schlemiel but 'celestial heaven' is certainly not one of them :-))))
I agree 100% about Sandeep though - he definitely has toned it down a little on Havieron in this report but the 'eye in the sky' would suggest different.
ATB - Paddy

Cheers CB - What was your take on the quarterlies? I don't we've heard from you since.

Did it seem to you that NCM were trying to put a lid on it - they definitely weren't as effusive about the results as before??

Regards - Paddy

Interesting question asked at about 45mins in about the costs for declines. Sandeep has a bit of a ramble and then says that if he could get the permits for the declines in place he would start them both tomorrow!!!!!
Says it all really - Paddy

Just had an email from Newcrest with a link to a webcast from Sandeep on the quarterly report - just listening now

https://edge.media-server.com/mmc/p/ug8g37gz

ATB - Paddy

Holly - Telfer can process up to 24M Tonnes of ore per annum - it could comfortably take Havieron, Scallywag and probably other ore also - it is a big hungry beast that needs to be fed with some good high grade ore.

ATB - Paddy

thedoors - while that would be a nice scenario, the reality is that all the other ground in the Paterson will be valued at pretty much zero in any takeover deal unless we get some holes into Scallywag and prove that the exploration model that found Havieron is going to work at other sites.
Remember Havieron already had historic holes from the 90's and in some ways was already de-risked from the perspective of hitting at least some gold - none of the other targets have coughed up anything yet.

The ground is highly prospective and the new surveying technology is light years ahead of what they had in the 90's, but until we get that first RNS that says 'visual mineralisation comparable to Havieron' then it's just that.
If on the other hand they get some holes in and we do get that RNS (hopefully) then all the other targets will become even more valuable.

Scallywag could be the real value unlocker for GGP IMO - Paddy

Just been having a good look through the Newcrest quarterly report - paying special attention to the Telfer numbers.

Looks like Telfer's processing plant is a pretty slick operation that can turn petty rubbish grades from the open pit into cash for Newcrest.

https://twitter.com/paddygall1/status/1257263375660220416?s=20

Imagine what the high grade ore from Havieron is gonna do for their production numbers - our grade will be considerably higher then the Telfer UG ore and that is what is propping up the open pit ore at the moment. The mining & milling costs will decrease dramatically and Telfer will become a cash machine for Newcrest just when they need it most.

No wonder they are moving at breakneck speed and IMO will continue to do so - as long as the results keep confirming the continuity of the HGZ's

ATB - Paddy