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They are reverse circulation drilling at EG whereas at Havieron they were cutting & retrieving cores. RC drilling, as I understand, recovers cuttings of similar size to coffee grinds, up inside the drill pipe. They are drilling to 250 meters or more. Cuttings collection for analysis is an incremental cost. Some holes in the previous 2016 campaign had very few samples analysed but generally there is a tendency (see RNS of that date) to analyse samples every 4m and if there is something interesting, every meter.
I think it is hopeful that the cuttings sample bags are all around the drill rig 😎
I’d like to think that the 30 hole exploration campaign ended up with a test hole at Wishbone, Empress and then the big surprise at Carnegie. GH was ‘sitting here next the campfire’ having been called out to see the nickel sulphides over the final 50 meters of the target hole. He wanted to say it compares to Sirius’ Nova discovery but needs to send the samples to Perth first, for lab analysis.
Have a pleasant weekend. Positive dreaming 🌈 💰
Only statement on Mr & Mrs Paul Johnson holding is 4.7% at the time of the Annual Accounts a year ago. Metal Tiger plc? Michael McNeilly is a non-exec director of GGP and CEO of Metal Tiger with a 4.4% holding at 30 June 2017. This time last year there were 189 million share options that had not been taken by employees / BOD.
I will be very interested to see the Accounts ended June 2018 although Significant Shareholders % has changed in the last month.
how did we even discover anomalies on Rio licences??? Something doesn't compute.
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Tiburn pointed out the GGP map: Paterson Project Aeromagnetics, regional targets.
The survey results, conducted from the air by Geological Survey of Western Australia, cover multiple license areas. GGP & Rio will have paid for results & assimilated this historical exploration data into their databases and, most importantly, 'merged and interrogated with modern technologies'. The amazing fact is that at Havieron, some geophysical surveying / ground gravity was recorded along with legacy data from Newcrest shallow drilling. Then, after modelling the results, with their 1st core hole, GGP discover bonanza grades.
You can not undo a significant gold discovery.
If the locations at the north of EG were the first in the 30 hole RC drilling programme, then the results could be announced any time. Carnegie nickel target has the potential to be a stunning surprise. Just to remind all what is possible: http://www.proactiveinvestors.com.au/companies/amp/news/201791?__twitter_impression=true
Roll out that mid-morning RNS.
GLA.
Posted on the GWMO board: Seems like our friend Mr. Webley took some stake in yesterday placing in GGP (exploration company in Australia with very promising prospects).... busy, busy, and good on you Andrew.
Andrew Webley describes himself as a private investor and director of a web company.
Someone yesterday was speculating that Newmont had bought in to the Placement. I do not think so. The financial year end for GGP was 30 June but the annual Report will probably not be released until the AGM in Q4. It would be interesting to see just who the Significant Shareholders are and what other Plc’s have increased their holdings in Greatland.
thefierce1 has pointed out that it is a resounding vote of confidence that investors are prepared to offer £2.6 M to fund an accelerated drilling programme. It is a positive move for all us shareholders. So who are they?
As pointed out, any purchase over 3% would trigger a TR-1. According to the profile, Stephen Beetham is the only named Significant Shareholder. He posted at 12:16 that he had increased from 4%, 121M to 150M. Last years Financial Statement showed Mr & Mrs Paul Johnson holding 4.7%, 93.7M. They could increase without any declaration.
It should be clear before too long and I agree that there should be further interesting RNSs next week. We should all be happy that big funding is readily available to GGP.
A rise of 5% and closing blue will do very nicely today. Stark contrast to the Wealden oil prospectors.
After the news hits, could Stephen Beetham and Paul Johnson be on the same path as Mark Creasey?
https://www.crikey.com.au/2013/03/13/the-rise-and-rise-of-sirius-resources-mark-creasy/
LookingatgoatS made an interesting point. The EG drilling campaign could have started at Carnegie, Empress or Wishbone rather than the 23 holes at Meadows. If so, and the samples were trucked to the lab at Perth before the drilling rig moved on, the results could be announced any time soon.
GGP drilled one test hole at Carnegie in 2015, a significant year for Nickel - Copper exploration discovery
http://www.newexco.com/wp-content/uploads/2013/10/20120726_Major-Ni-Cu-Discovery.pdf
The 2015 hole found comparable geological mineralisation to the Nova nickel deposit in the last 14 meters of a 300m deep hole. The 2018 rc drill hole is going deeper. They have had 3 years to reconsider the geophysical magnetic anomaly and chose the optimum drilling location. Drilling started before 22 June and the entire 30+ hole programme should be finished next week.
I was caught napping by the HAD001 results at Havieron. The results from Carnegie could come any day.
GLA
My prediction: Next RNS within 2 weeks.
Most likely news results of geophysical work on Firetower with simultaneous announcement of 24 hole RC drilling campaign over Firetower strike zone.
Also, near term news likely on BH geophysical IP surveying. There may be more info on analysis and assay results from the surface field sampling.
IMO the news we are all waiting for, the EG drilling samples lab analysis, will not be drip-fed but released after bulk of cuttings have been tested. My guess: Late August or even Sept.
Beyond that date it really starts to get interesting. All in the Operational Update RNS. Drilling phase 2 at Havieron. Nickel prospect following drilling at Carnegie. First refusal agreement with Newmont over Meadows discovery and funding for infil appraisal drilling.
Exciting times. 🌈
Not to be accused of passive deramping, it is worth looking at Gold Road Resources presentation. PaddyGal pointed out over the weekend that their discovery is ahead of anything in Ernest Giles, which is some 120 km further north
https://www.goldroad.com.au/media/2018/06/5b108d8dbe915030291470.pdf
Some interesting facts & figures here
I’m hoping he won’t kick me in the nuts when I shake his hand again at the AGM this autumn. Still, by then there’s a fair chance the SP will be somewhere near where applegarth predicted at the end of July, or is it August now.
None of us like this day upon day retrace on prospects that appear to be golden tickets. 💰
NMN
Don’t take it personally. He also blocked me on Twitter. Easily sorted - create another account and in future do not say anything that may be critical of GH. I still think he is doing a superb job but the repetitive ramping got me down. Still, promoting GGP world-wide is part of his position of responsibility.
PaddyGall
One of the most interesting links that I have seen posted. Unfortunately, this significant discovery has not had a spectacular effect on the sp.
http://www.proactiveinvestors.co.uk/ASX:GOR/Gold-Road-Resources-Ltd/
We are all hoping that the RNS on the Meadows rc drilling analyses, when they are announced, result in a better re-rate for GGP.
mapp,
I am a pensioner like yourself & I also was confused by trading terminology such as pi’s and peeps, that I have seen on this bulletin board (BB) over the past year. Nobody else has answered your question, so here goes:
SP is very basic and stands for share price. The term Duster is used in oil exploration, a business that I was associated with for 40 years. More commonly called a dry hole in drilling vocabulary, the term Duster is American terminology. Recently, on the UKOG forum it was used to describe their Broadbridge Heath well, not far from where I live. Not strictly a duster, the well had plenty of oil bearing pay zones but was unable to produce as the geological formation was tight - no fracture connectivity. So! The discussion on the FRR board will have been on in a similar theme. I see that GeoDave was posting on that BB. He has shares in GGP and his geological opinion was much respected when he was in discussion earlier in May. He seems to know what he is talking about, whether it is auriferous mineralisation or productivity index of limestones.
Too much discussion off-topic but I will close by agreeing that the GGP discussion is normally friendly, despite contrasts of opinion. However, all boards can get ugly when posters take an extreme dislike to personal opinion or misleading statements that show ignorance and lack of research.
Good luck. GLA.
http://www.share-talk.com/share-news/antipa-minerals-asx-azy-exploration-campaign-in-paterson-province-western-australia/amp/?utm_source=twitter&utm_medium=social&utm_campaign=SocialWarfare&__twitter_impression=true
Antipa, in my opinion, is an interesting historical correlation with what is taking place with GGP in Patterson project. Look at the events and announcements from March to October 2016.
http://www.proactiveinvestors.co.uk/ASX:AZY/Antipa-Minerals-Ltd/
No surprise that Greatland priority is getting drilling results from core drilling at Havieron in Sept and rc drilling at Black Hills later this year.
All shareholders should be interested in what might take place in the spin-off following a minerals asset being proven.
This 2015 JV gives some idea of what is possible. The timeframe ahead could be several seasons of rc drilling to prove up the extent of mineralisation and reduce the risk to a major that will be funding mining operations.
https://www.mining-technology.com/news/newsrio-tinto-invest-antipa-minerals-citadel-project-australia-4690028/
It would be interesting to look at what happened to Antipas share price over this 3 year period.
itsaduster
I disagree that EG should be a lower priority project. RC drilling is ongoing at Meadows and the Carnegie nickel prospect could be a surprise discovery, just as Havieron & Black Hills were a few weeks ago.
Meadows has had the entire suite of exploration technology thrown at it. GGP are proving up an area that has never been drilled where Newmont have colluded to define the target zone.
Results for this flagship exploration will be released before October. My hunch is that before year-end all eyes will be on EG.