RE:Not included in RENelson,
The NR, bottom part of the highlights, has mentioned that the nine step-out holes "will not be part of the RE update but have provided a starting point for the company 2018 planned drill program which had begun with 4 drill rigs".
As have have indicated in my recent posts, this is the 21st Century with computers and software already set up. It should not take long to import the new data in and crank out the new RE in one day, since they already had the RE in their hands weeks ago. Just give them to NP and he will have it done in one hour, lol. There are several reasons, at least imo, for the exclusion of the step-out data.
- They are spotty, essentially a single line in the EW direction, with a large gap between holes 200 and 234A (450m?) and the spacing between the step-out holes toward the main body of the deposit is ~75m which is a bit wide for interpolation for use under the NI-43-101 rules. NOte that the mainbody has a tighter drill structure, and in some area they even drill some "in-fill" holes to make sure that the can interpolate and extrapolate (a bit if they have more data point around).
- They said the use the step-out as starting point fro the 2018 drill program. But this could be used as a teaser to show the potential for potential increase in resource estimate. They could drill the area like swiss cheese and if they have enough hit they could extend the western boundary of the OP to say hole 200, even though the hit is shallow (grade is high enough) at one cannot go to deep near the wall of the pit (limit is about 45 degree angle, you can get a x-cetion at draw a 45 degree line for visualization).
Another observation: the NR says they have started the 2018 drill program with 4 drill rigs. This is impressive, assuming they have enough money. Let's assume that they do some "in-fill" drilling between hole OAX-17-200 back toward the main zone in a 5 x 4 array = 20 holes @ 300m deep each. This is a 6000m x $100/m = $600,000. Their treasury should be able to fund a $1M program to extend that gold zone toward the west? If not, they can talk to ES, he still has 33Mwt @0.09 to execise (for $3M), if he did not mind going over the 10% limit (i.e. can't hide below the radar anymore) then AZX can even have a more ambitious program.
Another option is talk to David Palmer and form another JV, he has a cash hoard of $25M. I am leading AZX to the PRB trough where another horse is drinking its water...and willing to share, lol.
I am assuming that the current BoD is not planning to sell AZX in a hurry, and that PRB is one of the interested party. PRB is just too close to AZX to be un-noticed, and AEM and PRB have a good relationship. The other potential dance partner is ELD, but it's not on my good list.
GH
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nelson11 wrote: Near-West Step-Out Drilling: Results up to 900 m West of Zone 4
The results of nine step-out drill holes to the west of the open pit have confirmed the extension of gold mineralization up to 900 m west of the new resource estimate. The results of this drilling will not be included in the new updated resource estimate currently underway.
Read more at https://www.stockhouse.com/companies/bullboard?symbol=v.azx&postid=27600374#DU8dmmjV0uTGikH9.99