Waiting game14 May 2019 23:14
Taken from 8th May RNS
After consideration of various methods the Company determined that the entire 30 kg sample in each bag should be subject to a gravity concentration test.
A trial bag has been tested and a 6.4mm 0.27g nugget was found in material from a 22.9kg sample bag. This which equates to 11.8 g/t from hole CSR011. The actual assay result for the 2kg sample from CSR011 was only 1.88 g/t. This reliably demonstrates that for the first bag fully tested by gravity concentration the initial assay test had understated the gold content by 84.2%.
As a result, the Company is now processing further whole-of-bag samples through the gravity concentration testing process.
Whilst there can be no certainty that additional bags tested will contain higher quantities of gold, it is unlikely that the testing will not find a degree of repetition of this type of result recognising what is now known about the DMS geology.
Should however the Company find in the testing process that considerable gold is identified, in nugget form, this may indicate a substantial in-situ gold deposit which may be amenable to a bulk tonnage mining operation.
Further testing is ongoing at present and the Company will be releasing regular updates with regard to this very important work.