TXRogers wrote: Lemand wrote: The vast majority of the latest tenements acquired by PAC have nothing to do with conglomerate gold. This is shown by the government maps and PAC's own words. Are the maps wrong and is PAC lying? Because they clearly state that they bought these tenements largely for structural gold, not for conglomerate gold.
Interesting comments. Vastness, majority, clarity, and maps all in a single paragraph.
So, most of us here are investing in exploration plays, but we now should accept maps that tell us all what we need to know? I suppose that takes all the fun out of exploration doesn’t it? And with all those maps, we have also have words to follow. PAC president and CEO Alec Pismiris recently stated in his Proactive Investor video:
https://www.youtube.com/watch?v=aYIsNxGkZvo (1 min 55 sec to 2 minute 10 sec) – where the company (PAC) adopted a strategy recently of identifying and acquiring assets in the Pilbara particularly with a focus on conglomerate style deposits. At least that’s what I heard.
As per the company’s own declarations in their
corporate presentation:
CTTR Acquisition: T
he 492 km2 property is an advanced gold project portfolio that will target conglomerate gold occurrences within the eastern extension of the Pilbara conglomerate gold play. O
ne priority will be to explore for a northern extension of De Grey’s Mallina Basin occurrences that include 5 to 80 m thick gold nugget conglomerate beds at Loudens Patch, Jarret Well and Steel Well. Arrow Minerals Ltd. Acquisition: S
trategic land holdings totaling 609 km2 , with recent discovery of gold nuggets from outcropping conglomerates. Nuggets 5 to 10 mm in size have been discovered on the Property. Seven conglomerate gold targets have been identified with characteristic radiometric anomalies.
Impact Minerals Acquisition: Signed letter of intent to acquire 100% ownership of approximately 1126 km2 of strategic conglomerate – hosting exploration properties. Previous exploration indicates at least 90 km of prospective Fortescue conglomerates occurring at or near the surface on its granted licenses. Properties are directly adjacent and proximal to key exploration properties controlled by Novo Resources and Kairos Minerals Ltd. Rock chip results of up to 11.2 g/t gold occur at the Glen Herring prospect 10 km west of Marble Bar in a gold-pyrite conglomerate that extends for 25 km.
Friendly Creek Acquisition: Pacton Gold has a binding letter of intent to acquire 100% of the Friendly Creek exploration license and mining leases.
Friendly Creek is historically one of the richest known areas for alluvial nuggets in the Pilbara region.
Yandicoogina & Boodalyerrie acquisition: 2.3 km of Hardey Formation and Mount Roe Basalt contact. Yandicoogina has historical workings over 4.7 km of strike with chip samples up to 199.7 g/t Au. Boodalyerrie project covers 25 km2 of hydrofractured, sericite and silica altered granite. Channel sampling up to 88.6 g/t Au and chip sampling up to 200 g/t Au.
Now, structural gold acquisitions are always welcome, especially if they are potentially high grade as stated in the company material. No differently than Novo with their Blue Spec deposit as an example. But conglomerate is what PAC is focused on. And the closer to surface, the better. Just like NVO. It’s all about the economics of ROI.
And let’s highlight another point before we get tripped up over premature maps and minced words. The deals we are now familiar were all products of months of work. They are not produced at the spur of the moment. So, I think it’s best that you sit back and watch what goes down in the next few weeks and months. It’s going to look quite different, I am quite sure.
Mount Roe Basalt, Hardey Formation, those beloved Sandstones, etc. Most sandstone being composed of quartz or feldspar (both silicates) resulting from weathering at the Earth's surface. Ever wonder what they were eroded from? Who cares really, as long as the gold is there.
And watch how all the pretty maps morph into images hosting gold. Throw in some recycled structured gold that you believe is the majority of the play (however you interpret words), then even better.
Tx