RE:RE:NI43-101 release....Good post TMG12FORWRD
After applying some logical thinking, does anyone else feel that some aspects of the news releases for HRT are lacking? For example:
1. During 2018 we are told there was 90,000m of drilling. If we add the indicated and inferred ounces together, there was an increase of from 1,475,000 oz to 1,666,000 oz. That is only 191,000 ounces for one year’s and 90,000m of drilling. We are also told the zones expanded from 1000m deep to 1300m deep. And the news release states:
“The Company was successful in expanding the Indicated Mineral Resource gold ounces by 55% and extending mineralization an additional 400 metres down dip at the Sugar and Middle Zones at a consistent grade profile.” In February 2018 the Sugar and Middle zones were down to 1000m. Due to the lack of information provided, I therefore logically assume that none of that expansion below 1000m is in the inferred resource.
2. Does anyone else find the news about the exploration targets to be unusual, weird even? For at least 18 months we have had a constant stream of targets sites presented to us, only to be followed up with no details of what was down the holes. I think we deserve to be informed of how many holes were drilled at each of these target sites, how deep they went, and what the assay results were. Instead we get no details, every time.
The latest example is the following:
News release from November 15, 2018:
“The Company has also started deep drilling at the Sugar Zone, approximately 1,500 meters below surface and 500 meters below the current extent of Inferred Mineral Resources, illustrated below. The intent of deep drilling is to test continuity of mineralization down dip and to potentially follow up with further downhole IP to develop deep drilling targets.”
News release from February 20, 2019:
“The Company was also successful expanding Inferred Resources to 1,300 meters below surface.”
So, are we to assume they never made it down to 1,500m? What were the assay results? Clearly, they found something so why can’t us retail investors be informed of the details?
I expect it will be the same for the next 3 sites. I reckon I could write the news release for those 3 sites now.
3. Looking at the Planned Exploration 2019 map, why are all the previous 8 failed exploration targets still showing on the map, along with the 3 new ones? Or is it possible that all of the exploration sites are still in play and of interest? We have no idea because we are not given the details that matter.
Having expressed my frustrations, I still believe in this company, I feel that the fall in the share price today is not warranted, and that we will see the higher indicated ounces reflected in the share price in the near future. Sadly, much more patience is required. GLTA.