Rapid Development at LPond Gold Deposit I posted the following over on MOA BB's this morning and thought perhaps other good Folk at MOZ may also wish to have a read.
Reposted from MOA's BB:
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I noticed that MOZ(as the operator) has given some additional Highlights in their NR that were not detailed in MOA's release. I think they are worth a serious read over here at MOA so have copied them here at the bottom.
Three things in particular I noticed relate directly to how quick the resource is expanding in 2012...down dip, step out and near surface...in other words almost everywhere they look!!
In the NE down dip/step out continue to add good high grade/width(393down dip and 395down dip/step out); thus new OZ's.
In the SW holes 392 and particularly 394 have stepped out and hit really good Hanging Wall high grade/good width numbers near surface. These are all new OZ's and very good for open pit economics!
But, the biggest thing of all is what is going on around hole 400. For this you really need to go to the Drill Hole map https://www.mountain-lake.com/VL-maps_2012/LP-DDHs-040312.jpg. Here hole 400(along with hole 397 from the prior NR) has identified a whole new and near surface high grade lens over 100m so far in length; and very interestingly extends 150m "updip towards the surface" and also remains open at depth. I think this will soon be seen as the the biggest new OZ find since MOZ drilling began and since this is so new, has not had an opportunity to be promoted and thus i think is going unnoticed by investors!!!
If you go to the drill map with a bit of background info(need also to see hole 397 from prior NR drill map) it is quite easy to see that hole 400 has really "fattened" out the centre of the LPond deposit. This is adding lots and lots of OZ"s and maybe even more importantly will add greatly to the open pit economics as these are near surface OZ's showing up in this new area.
I spent several hours pouring over all the data and the maps yesterday and these are the conclusions I came to. I think any serious investor may wish to go through a similar exercise as the picture being painted to me is showing a very rapid development that so far seems to have gone unnoticed in the market.
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Here are the words from MOZ's NR:
Highlights:
- The new high-grade Main zone intercepts in drill holes VL-12-393, VL-12-395 and VL-12-400 provide significant expansion of the Main zone mineralization as drilling stepped out up to 70 metres downdip from previously drilled mineralization in the central part of the Leprechaun gold deposit.
- The high-grade intercepts in VL-12-400, located 13 metres south and 30 metres downdip of the high-grade Au intercepts reported in VL-12-397 (news release, March 2, 2012), form part of a 30-to-60-metre-wide southwest-dipping high-grade dilational lens of Au that extends 150 metres updip to near surface, over 100 metres along strike, and is currently open at depth.
- Significant new near-surface Hangingwall zone mineralization includes 6.19 g/t Au over three metres including 17.94 g/t Au over one metre in step-out drill hole VL-12-392 and 1.17 g/t Au over five metres including 4.81 g/t Au over one metre in VL-12-394.
- Significant new Footwall zone mineralization includes 3.33 g/t Au over 2.1 metres including 8.43 g/t Au over 0.7 metre in VL-12-393.
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C.Gert