Gold...and comparison to GGP27 May 2022 23:59
Evening all,
Interesting RNS late in the day with a meaty interval of gold causing a late flurry and a tide of optimism after the recent lull. I am very excited to see where this leads, especially having read iceberg's thoughts on the possibility of drilling right down the gullet to hit a couple hundred metres of mineralisation. God knows where we're at with drill plans now. All bets are off imo.
Anyway, some negativity thrown in tonight after the results didn't quite match up to GGP's assays. I'm not quite sure what we were expecting. We have had a couple of pins stuck into a mass 2km from our JORC and we've hit 32m @0.92 in one of our very first returns.
Granted, many PIs are on the lookout for the next GGP so let's have a quick look at some of their recent results.
From the RNS dated 10th March 2022:
NW Pod
§ HAD089W4
§ 52.7m @ 7.1 g/t Au and 0.04% Cu from 1,074m
Northern Breccia
§ HAD141W2
§ 88m @ 0.98 g/t Au and 0.03% Cu from 1,314m
§ HAD145A
§ 69m @ 0.72g/t Au and 1.1% Cu from 1,300m
Eastern Breccia
§ HAD145A
§ 70.2m @ 0.82 g/t Au and 0.22% Cu from 1,654.8m
Granted, those are very impressive figures however as we all know GGP were pi**ing about for ages drilling in shallow rock and finding very little. They have put 100s of pins into this ground and have finally had their reward. Also, you will note the depths of those drills: 1074m, 1300m, 1314m and 1654m. To paraphrase Colin, that's a whole load of muck that needs to be shifted. I do wonder if we will drill anywhere near that sort of depth to see if it's a similar system.
Lastly and perhaps more importantly, let's take a quick look at recent results from GGP's 100% owned Scallywag licence, adjacent to Havieron. Subsequent to EM, they drilled "high priority targets" in H2 of 2021. Their results:
§ 2.6m @ 0.19g/t Au from 35.4m AND 3m @ 0.19g/t Au from 430m
§ 7m @ 0.10g/t Au from 18m in Swan hole SWD003
§ 1m @ 0.48g/t Au from 384m in Swan hole SWD002
§ 1m @ 0.20g/t Au from 296m in Barbossa West hole BWD001
Quite frankly, if that's what they find in their high priority targets, then something's not quite right. They are shockingly bad by comparison. The point is, it takes a lot of time to find any gold, let alone a 30m run.
My personal take on it is that 30m @0.92 is not to be sneezed at for the 2nd or 3rd hole in Ascot. These are incredibly early days and the geos have very little knowledge of the system. Very easy to say "Look at GGP, our results are cr*p by comparison," but that is a highly unfair statement. Very excited to see where our drilling (hopefully fully funded by African gold) takes us next. Keep up the good work Colin.
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