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Bullboard - Stock Discussion Forum Signal Gold Inc. T.SGNL

Alternate Symbol(s):  SGNLF

Signal Gold Inc. is focused on gold mining, development, and exploration company in the top-tier Canadian mining jurisdictions of Nova Scotia & Newfoundland. The Company is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study. Signal Gold also operates mining and milling operations in the prolific Baie Verte Mining District of... see more

TSX:SGNL - Post Discussion

Signal Gold Inc. > Level 2 + Drill Results
View:
Post by DoumDiDoum on Dec 21, 2023 11:25am

Level 2 + Drill Results

Well, not the BIG NR we were expecting: a couple of holes without any sexy punch to them. We have to keep in mind that we are drilling a virgin area and that it will take a lot more drilling to understand the model and where to test. There is gold though, and showing some continuity west of the second pit is good. @GoldNHill, can you bring some technical assessment to them? What do you think of those holes?

I suspect they are working on other results and will publish an NR after the Holidays. Let's hope for more sexy stuff then.

Using the 10 levels depth of Bids/Asks:  
• 603 500 shares on the bid at an average price of 0.120
• 374 000 shares on the ask at an average price of 0.161
Ratio of bids to asks of  1 : 0.62  
Difference on the average price of $0.041
   
Orders/Shares Buyers Sellers Shares/Orders
  4 / 132 000 0.135 0.14 18 000 / 3  
  3 / 9 500 0.13 0.145 22 500 / 3  
  6 / 53 000 0.125 0.15 70 500 / 4  
  13 / 227 000 0.12 0.155 500 / 1  
  5 / 38 000 0.115 0.16 500 / 1  
  6 / 99 500 0.11 0.165 246 500 / 2  
  2 / 2 000 0.105 0.17 5 000 / 1  
  2 / 10 500 0.10 0.185 500 / 1  
  1 / 30 000 0.095 0.205 500 / 1  
  1 / 2 000 0.085 0.21 9 500 / 2  
Comment by GoldNHill on Dec 21, 2023 3:55pm
Ya not sexy but still some good underground narrow vein targets to add ounces. 109.91 g/t gold over 0.5 metres (92.8 to 93.3 metres) in hole BR-23-399 Nothing to sneeze at. They may have drilled over or under the ore shoots so yes more drilling required to better define the the structure of some of the closer high grade wider intersections. Lots more holes to come....hopefully they were just ...more  
Comment by ggrellette on Dec 21, 2023 4:29pm
Sadly the market never respects step out holes until we get to feasibility studies or the market looking for growth prospects in order to grow ozs. The grade was great and the distance is extremely encouraging but 0.5 meter was the caveat that caused the lack luster response in the share price. However those who are here for the long term understand the results today and the penny flippers are not ...more  
Comment by shiftyone on Dec 21, 2023 4:41pm
I was surprised that the price held at .14 all day.
Comment by GoldNHill on Dec 21, 2023 5:50pm
Agreed we did not see the big multi-meter thicknesses that have become accustom to seeing in Goldboro. At the Forest Hill mine (20 kms north of Goldboro) where I worked as an underground mine geologist (1980s), if we hit 100 g/t over a half meter in drilling we would be very excited.  We would immediately target several new drill holes to determine if this narrow vein high grade continued ...more  
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