Hi
@pierreG01599501
These are a few posted over at
seekingalpha.com/...
Gold mineralization has now been extended by over 150 metres to the north of the existing Western Flanks resource (see figure 2). Broad zones of mineralization with significant gold intersections have been identified outside the current resource. Key intersections (all estimated true widths):
WFN-071 – 16.8 g/t over 27.8 m including 748 g/t over 0.53 m
WFN-015 – 4.5 g/t over 23.75 m and 7.4 g/t over 5.95 m
WFN-022 – 3.1 g/t over 37.70 m (including 6.7 g/t over 6.96 m and 7.1 g/t over 3.05 m) and 3.1 g/t over 19.91 m;
WFN-049 – 3.04 g/t over 16.42 m and 2.5 g/t over 16.42 m
Infill Drilling at Western Flanks from the 325 Ore Drive (see figure 2) has intersected higher grade gold in multiple places over much greater widths than the current resource model. Key intersections (all estimated true widths):
WFC325-003 – 3.5 g/t over 48.6 m (including 7.9 g/t over 12.20 m and 6.3 g/t over 16.91 m and 20.9 g/t over 8.94 m including 119.6 g/t over 1.24 m);
WFC325-001 – 4.3 g/t over 19.74 m (including 8.2 g/t over 6.23 m);
WFC325-028 – 4.9 g/t over 16.73 m (including 187.0 g/t over 0.23 m and 4.4 g/t over 9.74 m).
Multiple holes define the continuity of mineralization to the south and down-dip on the A Zone shear with infill drilling often yielding grades and widths in excess of the existing resource model. Key intersections (all estimated true widths):
AZ14-012 – 10.9 g/t over 8.99 m (including 157.0 g/t over 0.44 m);
AZ13-107 – 6.8 g/t over 7.17 m (including 26.6 g/t over 1.16 m)
AZ13-125 – 3.3 g/t over 12.57 m
OK JUST GOT TO A PC AND SAW THIS.
This is not only very good, it is a lot better than prior drill report. So after reading half the report would have to say right now is a superb time to buy RNC stock. They keep saying " grades and widths in excess of the existing resource model. " what that means is that where they knew there was gold before FDV that there is more gold, higher grades and wider veins than they thought. This means that not only the new discoveries will be added to reserves and resources but the old ones were inaccurate in terms of being too conservative. This means the mine will be a lot more profitable than prior estimates.
WFN-071 – 16.8 g/t over 27.8 m (including 3.1g/t over 7.32 m and 51.9 g/t over 8.55 m including 748 g/t over 0.53 m); That is a grand slam drill hole.
It might be missed by some as so wide at 27.8 meters, but it is super bonanza grade over .53 meters and the rest of 27 meters is good to bonanza grade ore.
@Out_on_a_limb and @lexcontrols First good question Out. I was a little surprised at mkt reaction as much of what was hoping for in this report was there. An extra bonanza zone would be nice but the high grade at big widths was really good news. To the question, tend to agree with @goldminer01 that a lot of underreaction if because this PR is a month later than we were told it would be, so same info on time, followed up by new stuff in last month today IMHO would have stock higher and investors happier. What Lex says is true, right now sector is out of favor, on top of above reason, JMHO.
prnewswire2-a.akamaihd.net/... OK on that map which is well done, the old resources in small circles and on right side. The newer big circles are below and to left. The 2 lowest holes are both very good, 015 and 049. The two left most (unexplored area) are 46, 48 and 49, one shared on bottom left corner, and all 3 excellent.
So what s going on here? They are drilling to "mine plan" and mine on this area. Tight drilling, this area may be in production soon and will be very profitable and high oz production per day.
As they say they are now going into drilling to prospect new areas. What is to the left of this? Looks like will be excellent, it has got wider and richer as they go left from old mined area, and not one hole out there. Their resources are going way up.
Thanks @Darp Research for your interpretation of results, it's definitely helpful for many people here non-geologists, including myself.
I interpreted the NR as very positive to improve the confidence of the overall model (as you pointed out, even the previous inferred resources will be updated as results of more data points).
At this point and with the current info, what's your best guestimate on the very minimum deposit size (ie the floor we should expect with high confidence level) that we'll get of of this? 2-3 Moz?
I know that feasibility will come and give us this answer at some point but I imagine some rough calculation with very conservative assumptions can be made. Wdyt?
NEW|02 May 2019, 02:13 PMReply2Like
Darp Research, Contributor
Comments7734 | Following
Author’s reply »
@amphi2008 Based on the fact a lot of it still undrilled for sediment trigger model deposits yes, that is reasonable. It could also be 5+ million oz, and would take maybe 2 more years of drilling to know.
This is for sure, current resource is quite small as they stopped drilling it to sell it, plus it is pre FDV/sediment model so the resource almost for sure will go way way up.
If you look at high res drill maps at WF shear they stopped in great ore, both grade and thickness wise going down and to the left. That stuff generates a lot of ozs if it continues.
My opinion is they have enough good profit ore to mine quite a while now with a mine plan, again opinion is, the big mining will be at WF. They may shift mining style to even bigger stopes with other methods as its so wide. So that being the case, now they will shift to prospecting 2 more shears and going deeper. I have lobbied them to go deep, with some down the shear zone holes. PR indicates they are going to do that. Very happy to hear.
WF is better than A Zone we now Know, heck the other two can be better than WF. AND what about deep? Maps show they have not hardly even touched the deep parts of Basalt. They were drilling to mine with a plan not prospect. Are there more sediment layers? Very possible geologically, why just one deposition phase. So upside is huge geologically as their land package is so big at Beta.
Cheers