The Hole and Gold comparisonsWell I think this deserves a post. Worked late and really just had time to review this hole and the days happenings. Thought I would take 5 minutes to comment. Anybody that knows uranium, knows what an amazing drill hole it is. I guarantee every major will/did pause with such a drill hole starting at 56 metres in depth under open pit mining. Not just in uranium but majors in base metals as well, because open pit mining doesn't have the technical challenges of other deposits like Cigar Lake. Who ever controls this in the future will control the new west district.
Holes like these add as much uranium to a deposit as 10, 20 holes or many more of average or low grade drill results, even for the basin. This is why you can't fall into the trap of it's overvalued or fairly valued. Lot's of spec left IMO. This strike length is so long, and the way the geology works, and with the history of the holes so far, you can have one hole that looks good then a step out and boom. Add holes like these dotted along the trend and things add up fast. I would put my speculation on this team find at least one more zone off trend also.
People complain about the manipulation, which is helped by such a large float for MM's moving it around. But it does give people a chance to buy or add without it jumping 100 percent or dropping 50 percent with less established plays. Not so good for trading and expecting 30%-80% jumps with perfect timing though. Nexgen went from 20 cents 60 cents in the summer, then back down again to 20 cents. I do like the team over there though, and did own a little in summer for a while. (wish I still did!) Congrats for those who got the timing right there, that's why they call it high risk/high reward.
I posted the best holes in gold equivalents last time in the fall I believe. Thought some might like to see an updated chart with this one added. It helps put it perpective of how unique it is. Just imagine an open pit gold mine with intercepts like these. Some of the well informed vets know all these things already... hope others find it useful
| Fission PLS Best holes in Gold Equivalent |
| Hole | High Grade Zone | Drill hole Length | U308 Grade % | Gold Eq @ Gold $1580 & $60 per ton U308 | Gold Eq @ $1580 Gold & $70 per ton U308 | Gold Eq @ $1580 Gold & $80 per ton U308 |
| | | | | | | |
| PLS13-053 | R390E | 49.5 M | 6.26 | 162.8 | 189.9 | 217.0 |
| PLS13-038 | R390E | 34 M | 4.92 | 127.9 | 149.2 | 170.5 |
| PLS13-051 | R390E | 53 M | 6.57 | 170.8 | 199.3 | 227.7 |
| PLS13-075 | R390E | 54.5 M | 9.08 | 236.1 | 275.4 | 314.7 |
| PLS13-080 | R780E | 43 M | 6.93 | 180.2 | 210.2 | 240.2 |
| PLS13-072 | R390E | 34.5 M | 8.15 | 211.9 | 247.2 | 282.5 |
| PLS13-059 | R00E | 20.5M | 8.57 | 222.8 | 259.9 | 297.0 |
| PLS13-043 | R00E | 22 M | 4.08 | 106.1 | 123.8 | 141.4 |
| PLS13-079 | R00E | 17.5 M | 5.98 | 155.5 | 181.4 | 207.3 |
| PLS13-059 | R00E | 27 | 6.5 | 169.0 | 197.2 | 225.3 |
| PLS14-129 | R585E | 116.5 | 8.52 | 221.5 | 258.4 | 295.3 |
| |
| Best Hole intervals within drill hole |
| PLS14-129 | R585E | 10.5 | 38.49 | 1000.7 | 1167.5 | 1334.0 |
| PLS14-129 | R585E | 38 | 13.66 | 355.2 | 414.3 | 473.4 |
| ***If a price of $1350 per oz Gold is used all gold grades would go up by 17% |
| Best hole PLS-129 is in open pit zone of mining starting at only 54 metres deep. Most of the discovered trend is open pit possible so far. Do you know of any open pit gold mines that hit a drill hole of 295 grams per ton over 116.5 metres? |
Cheers
Presclubs