Huge29 May 2022 21:54
Well the 3pm RNS Friday has only just started to be appreciated. The more you read the more you realise this is huge……..
Significant intervals of porphyry-related gold mineralisation have been interested in drill hole BRDD-22-039, situated 200m to the south of the Ascot discovery hole BRDD-21-035 (refer to RNS dated 19 January 2022)
Colin Bird, Executive Chairman said: "I am very pleased with the results of this hole and intrigued by the dominance of gold. The obvious significance is that the Ascot prospect is a different prospect to Racecourse and our modelling is designed to pursue the indication that the gold and copper mineralisation could be separate. These results display similar characteristics to the gold-rich Ridgeway discovery in Newcrest's nearby Cadia-Ridgeway Mine, 25km to the SW from Orange, and less than 100km from the Bushranger project, in the prospective Lachlan Fold Belt.
My take is that CB is making clear that the copper play of Racecourse which could be sold to AA or another bidder soon for multiples of our market cap, but now we potentially have a massive gold play at Ascot very close to where NEW have one. Wow. No wonder the market had an initial surge but once digested we should be trending north with so much news incoming.