Triangle Too - Drilling ProgramJust went back to some previous AZX NRs to check out the drill program at Triangle Too, in view of the release of a new RE from the northern neighbour (ICG) for their "Triangle" project, which now has a total of ~2.5MozAu (after some 3-4 years of extensive exploration).
The 16 Jan 2017 NR says:
"The drill program at Triangle Too is an earlier stage program than that at Zone 4. Alexandria’s first-pass drill program late last year provided the Company’s first look at the subsurface geology on the project. Six of the seven holes, all shallower than 300 meters, intersected the critical geological ingredients that characterize this region, including gold-quartz veins, diorite plugs, and associated shear zones. The new round of drilling will follow-up by testing deeper on the diorite plugs, as well as drilling new, untested geophysical targets."
It looks like AZX program is not as intensive as the one on the north side, which ICG started almost from scratch some 3/4 years ago. To get anywhere, AZX management would need to spend a lot more money doing deeper drilling rather than doing some scratching on the surface, since short holes would not lead anywhere based on the results from the north side. ICG has some shallow deposit, but most of the stuff is located deeper than 300 m. Also, the C-veins (the high grade shear veins, C1, C2,....) are dipping toward the south (AZX property).
If this theory holds true then there would be a chance for AZX to hit the extension of C1 and C2 veins in the range 400 -500 m from the surface (by extrapolation from the nice diagram mentioned below). If AZX is lucky, then the high grade veins could be found by shallow drilling, but so far we have not seen these results.
There are some intersting old results from ICG (18 Nov 2013 NR). ICG drilled very close to AZX border (100-200m), but in the S-N direction (there is a nice diagram in one of their links). Since they aimed for their Triangle some 500 m away in the north (Not N-S, not even straigh down near the boundary, ...presumably, people don't want to do the work for their neighbours, in the exploration business). The holes were long (some over 1000 m, this is serious drilling, but look at what they have now at Triangle, a PEA and a 2.5Moz RE).
Perhaps, our management should borrow a page from ICG playbook and spend the money on a few flagship projects (and sell the rest), like Orenada and Triangle Too, etc in Val d'Or, since they can be considered as a proximity play (trying to entice the neighbour for a TO?), lol.
My musings for the day.
GH