Added more this morning Huge hole yesterday - certainly de-risks the project even more. I added more this morning and am pretty much all-in now with the exceptiion of some emergency powder if we see a descent below $2.90. 170 + metres at over 3 g/t au is the third best hole drilled to date in my opinion after 317 m @ 5.8 g/t au and 214 m @ 3.00 g/t au... the average grade of the breccia I feel will be 2.5 g/t au minimum, yielding roughly 2.4 Moz based on October's dimensenions (250 X 150 X 250).
Open to depth, open along strike.. still tons of room to add ounces.
Insider support paying above market price is even more encouraging as the PP financers as well as Lundins know it just isn't possible to accumulate that large a position anymore without driving the price to 52 week highs.. simply are not the shares available to go around.
Firms specializing in junior mining stocks have no excuse not to be in on Newstrike. They've had over 12 months of halts & eye-popping drill results to digest, many dips to accumulate on and weakness in the price of gold allowing them to do so.. anyone still on the sidelines deserves to be - for good. This is the next VEN.TO or AND.TO and it amazes me that some firms still don't realize it and have no coverage. Most likely since they've been timid to pick up positions and now wouldn't dream of mentioning the stock since it would only give it more attention making it more difficult to add shares. This is a no-brainer.. no there isnt' a 43-101 yet but I don't think it takes a professional to figure out this is a 5 Moz deposit next to another 5 Moz deposit sitting adjacent to a 15 Moz deposit held by a $35 billion dollar company. High-grade gold is not common and even more rare in safe, mining friendly jurisdictions... the ball is in G's court to acquire NES or suffer the consequences of watching another major pull 3-4 g/t au ore from 3-5 metres from surface just 20 km to the north of them....
At this rate Ana Paula's ounces could match the size of Goldcorp's producing Los Filos project but at double the average grade and with a higher grade starter pit to boot.....
The low-grade halo mineralization is just a bonus.. the real game-changer here was the discovery of the breccia and the de-risking continously with higher grade hits and extensions into the breccia. 2.5 Moz of high-grade gold is easily enough for the first 5-7 years of operations at sub $450~ cash costs all-in if not better using the higher grade breccia as a starter pit.. personally I feel cash costs will be closer to $375 / oz given Los Filos is producing for under $450 at 0.7 g/t au...
Great day to add.. just wish I'd waited an hour to save myself a nickel... looking forward to a post or two from Caliche