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It’s very reassuring Mike actually clarifying that eclipse is just a quick route to profit and also just to get a step into WA. I’d love to see the amount of projects they are being offered and considering. If it’s anything similar to the munni munni project we were considering then sky’s the limit.
https://www.proactiveinvestors.co.uk/companies/amp/news/947947#click=https://t.co/3JR4YUYcSD
Mike isn’t one to over evaluate an estimate, I think his just clarifying we will get a JORC even based on them figures. We are now diamond drilling 200m in three holes which will make the resource figures on the eclipse shaft clearer. 17 holes at jacks dream will be interesting aswel, the potential for two separate pits is quite high in my opinion
An initial non-compliant resource has been prepared for the Eclipse shaft area. The non-compliant resource, based on a cut-off grade of 1.3 g/t Au and a minimum downhole length of 2m, is below.
Tonnes
Au (g/t) (cut*)
Au ounces (cut*)
92,913
2.25
6,706
* The data was top-cut at 22 g/t Au
I read it more of based on the lowest off take on the eclipse shaft we would get a JORC to mine via an open pit. Bare in mind it says the data was too cut at 22g/t Au.
Just my thinking though
Yeah I enjoyed it also. Market correction was always coming, however the gold sentiment will come back shortly and we should have an open pit mine soon. Let’s just hope empire deliver on there time scale of the new ceo and Georgia sale ( a couple of weeks)
Also personal expenses? What are you referring to, the board are paid in options. Mike said this drilling phase including rigs is all paid for, so we are in a good position. In regards to the value of eclipse,
Looking at the grades and easy route for an open pit I would say we are chucked in, not to mention toll mining slots easy to get in the area...