X (Twitter)28 Feb 2025 10:25
Some core pics from previous drilling in advance of PDAC next week. PEP013 was our best hole to date, announced on 9th Dec 2024 as 77.3m @ 7.68g/t Au from surface. It's an industry outlier so we treat it with caution.
Host rock is or was tuff, a rock derived from falling volcanic ash. It's porous, and so when hit with gold bearing fluids from below, rather than seeing discrete veins, the entire rock is flooded with silica and gold, creating this hard blueish rock with vein upon vein upon vein over large widths.
Near surface it has been heavily oxidised, but the gold was not leached away and we see high grade at surface, in this case over 7g/t.
We are still developing concepts about what Pepas is, why it is there, and what is happening to the north, but also examining the economics of what this nature of mineralisation implies. Thick, high grade ore at surface is rare. Global average open pit grade is now close to 1g/t Au, and so +5g/t Au is a bit unusual and may need some rejigging of cost models.
Still very early days and we have much to learn, but certainly something interesting is going on here.
https://x.com/OrosurM/status/1895419364293378219?t=BaL_5nO3sAKTFwY6rGN1lw&s=19