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On ehting I just wanted to remind myself. Hole 1 is not a 'duster', we know that already.
There is visible gold in core (which we have all seen the photo) and the pXRF readings above this are indicating possibly more than 15 g/t. Therefore, the visible gold section very likely to be high grade, the pXRF also not going to be miles out therefore even 10 g/t would be nice. Quartz found well before the expected 130m depth and found beyond the Byron main reef to 300m depth. For all we know it may still be open at depth beyond 300m.
Far from a duster but what are the lengths of core with decent grades.
The Tweet mentions a 4 hole drill programme at Byron for 750m.
My understanding was that drilling was initially for 3 holes with 2 more potentially to be drilled. Therefore, if 4 being drilled before moving onto the next reef then this must be positive, they wouldn't waste their time drilling otherwise..
Presentation page also noting some historic results a bit over 15 g/t which was what CB stated in interview 14.02.21 based on Hole 1, pXRF results. Therefore I suspect this will be the grades they record (with potentially a very high 5m over the main reef at 110m depth). The question is, how far does it extend, are we talking 10m, 30 or more meters? This will be key.
Looks like we will have to wait until all the drilling is complete at Byron reef before releasing the results enabling a comprehensive update.
Then onto Maouri Reef and the other two.
Been waiting since March 2019 therefore will be waiting for as long as it takes for this to all pan out. Creswick JV and some drilling (hopefully some more 80g/t intersections). 4No HR3 reefs explored and possible resource released (end of this year), visible gold already found at Byron. Further drilling at Blue Moon and Black Cat. Once all these boxes are ticked, the value will be there ..
Just had a nibble hear today...
Copper fundamentals good, price dip good, assets and future potential good. Current market Cap decent.
Likely a fundraise soon but shouldn't create too much damage.
Also, you never know re JV's etc to help bring 'The Big One' towards a mine.
GLA.
Its crazy how we go from euphoria two weeks ago where we are expecting some massive grades to today where a drop in share price has us all spooked and we are now talking as if ECR hit a blank.
For a start, even IF the results were poor the market should not know about this therefore there should be no drop in price before RNS. Or perhaps even based on CB interviews the market had got carried away and perhaps Market Cap went too high even based on good results in 1st hole. Or perhaps this is just volatility and uncertainty in between results.
Anyway, I still think this will turn up trumps, The xrf machine is accurate and it was stated they were looking at sections over 15g/t... The areas of visible gold will likely also be over 15g/t (surely) therefore this should be positive.
Squeaky but time . results ready, Craig not looking as excited?
This is where the bottom feader AIM Investors get separated from the chaf. We are beyond £10mil Market Cap. therefore not a pump and push on small news.
Is this the real deal..Who knows, should be but at £30mil mc it needs to be..
Im still here and expect it will be..
Page 4 of the presentation states.
High grade drilling intersections up to 81 g/t gold at 100% owned
Creswick & Bailieston gold projects.
Surely this should just be Creswick and not Creswick &Bailieston.. ??
Price action suggesting there may be an RNS lurking in the background here. (Also its easy to guess as so much potential news due short term).
The first draft of the last RNS was done on the Tuesday but never got signed off by Nomad etc until Friday. I reckon there is one waiting to go out, maybe today or early next week.
I know we have to keep expectations low but over a small interval at least, I'm expecting a few ounces per tonne. With additional grades up and down the core. Hopefully this is the type of find that we have. And once released, if CB mentions any comparison to Fosterville mine in the RNS then the blue touch paper will get lit.
To add to this, hole 2 completion with further visible gold (hopefully).. They were half way through start of last week so i suspect will be finished this week..
Yea, been quiet today but there shouldn't be long to wait until something new to chew on.
Joint Venture for Creswick
HR3 hole 2 initial drill results/ possibly more visible gold as they strike the Byron main reef deeper down.
Assay results for hole 1 with visible gold already announced.
Imminent granting of various licenses that have been at application stage for a number of years.
Shouldn't have long to wait ..
The current Hole 2 being drilled from Section A-A within their drill program. Drilling at -70 rather than -60 (hole 1) therefore assuming the Byron Main Reef continues deeper, they will hit it around 150-200m instead of 110m.
The deeper the hit then potentially the higher the grade(s)...
By the time we get the assay results in circa 2 weeks for hole 1, we will be near complete second hole and hopefully ready to release more pics of visible gold before being sent for more assay and starting third hole.. And then repeat at other main reefs.
Fun times..
This Tweet.
https://twitter.com/ecrminerals/status/1351085680756187136?s=19
No this one.
https://linksharing.samsungcloud.com/cmiLjZgP1gL4
Another cracking interview.
Agreed the area of visible gold at 111m could be >150gt and basically craig saying grades of at least 15 g/t . Likely more.
Also interesting he was saying they were hitting unknown and unmined shallow zones they didnt know about.. :-)
I remember a close up photo of the core they posted just after start of drilling.. Strange that a close up of this was posted and i have to this day speculated that there is visible specks of gold here too at 7m just left of centre in photo.
Looking forward to finding out...
The link below is a Kirkland Lake gold exploration RNS from July 2018 regards Swan formation at Fosterville mine.
https://www.kl.gold/news-and-media/default.aspx
Interesting read within the context of ECR progress..
Agreed, the 5.3m is the main Byron Reef 'located' but doesn't mean there is no gold above or below.
Agree with TT response.
I am no geologist but would also add from my understanding, gold that is visible from the eye in a core generally relates to bonanza gold grades, look it up and you see the grades associated with visible gold in cores.. However, as mentioned it is important that there is further fine free gold in the cores which can only be viewed with a microscope. Into the microns but if the whole core laced with it then also very high grade.
Great start at 5.3m very decent as might extend for much longer than this laterally and also be thicker as you drill shallower or deeper.. The Swan zone at Fosterville is 8.2m thick and they are producing serious profits from 250m below surface.
Main thing is they are on target and can work from here to establish the extent of the reef.
All really exciting imo..
wow this is fantastic on Midas maid3n hole.. It will likely be very high grade if it is visible.. This is fantastic..
They will keep hitting visible gold throughout Bailieston..
Tremendous..
I was under the impression they can drill 150-200m a day (without nightshift) and therefore possibly on the 3rd or 4th hole.
Perhaps if they "on target" and keep getting the "right mineralisation" then this goes slower as they interrogate the core as it pops up.
circa. six week in now...
Meant to also say, having listened to the latest interview again the other day. It now sounds to me like cores had already been sent off to a lab.. CB almost stated we need to wait until these arrive back.
In addition, I don't think they will release any results until the 2 extra applied for licensing are confirmed. Need to make sure land firmly within ECR control first IMO.
Also if it the same company we are speaking about here then they are 6bil market cap with 850mil profits last year.. No problem if a company like that was to splash a bit of cash on a promising venture.
RRR IMO land banking adjacent to the action. No story behind the land they have accumulated other than its in Victoria. No dimocks shale or reefs, or any geological theory behind it (as far as i have read).. Prob they will find something interesting with such a massive acreage but it will cost a fortune.
ECR streamlined and aligned to top land and have the theory (and results) to back it up.
If ECR jv'd with RRR (which they wont) then id sell..
Lets not forget this bit of the interview regards the Byron/HR3 currently being drilled. Something along the lines of below.
"We are drilling well past 130m in the right material which we hit before the expected level of 130m depth and are still going. We are at 300m and can go down to 500m with current drill rods, whilst we are still in the right ground which is looking positive."