Some Press Release take-aways Hi all,
While I sit looking at the Colombian mountains I have the morning free so I thought I would share some take-aways from todays press release and the last couple of days of action.
First off, very happy with WM completing the PP, and doing so in an incredible 2 business days. Must be a record. And a big congrats to the WM team for getting such great terms, with most shares being bought well above market value, and the options at a whopping .60 cents....some of which have already been exercised by Eric Sprott. Way to go team Wallbridge. The confidence that is sends to the market is exactly the message that should be going out for this ever growing gold system.
One of the first things I noticed here is ANOTHER 600m deep high grade hit, the 5.5 g/t hit over 10.96 m of hole FA-19-065. This is the second THICK high grade hit, the last one from the press release on July 9th which was 17.58 g/t over 11.04 meters. For me these numbers are very important and should not be overlooked for two reasons:
1) it demonstrates conintued high grade mineralization at depth (and 2 for 2 hits at this depth --aka. they hare shooting 100% high grade at 600m.
2) it shows thickenging of the veins as we go deeper. This could be huge as it would appear they are tapping into the main monster feeder veins. These drills could be the beginning of a real game changing discovery. If they can target the source of the Fenelon Gold System, the thicker richer veins coming from deep in the earth, then that is what you call the 'Mother Load'.
“The zones at Fenelon tend to widen and get richer as they transition from the sediments into more favourable host rocks, like the Jeremie Pluton and the Main Gabbro,” stated Attila Pntek, Vice President Exploration of Wallbridge Another spectacular find is from FA-19-065 - with its 191 meters of. 98g/t . Once again this is important as it is consistent with a previous hit (april 23 press release) of 1.46 g/t over 227 m.
What is VERY interesting is that todays hit is only 100m to the southwest of the april 23 hit. So, what we have is roughly 200 m of 1g/t and 100 m away from that we have over 200 m of 1.5 g/t .........Anyone see the pattern here? this low grade corridor is long, thick, constistent, and getting bigger every press release. not to mention all the nice high grade viens that are contained withing both of these lower grade paths. How do you spell 'open pit'?
Marz puts it very clearly "
“We are confirming the continuity of numerous high-grade gold-bearing structures within Area 51 along strike and downdip, making these zones prime targets for future resource growth amenable to an underground mining scenario”, stated Marz Kord, President & CEO of Wallbridge. “In addition, a potential open-pit type resource scenario in Area 51 will be pursued with additional drilling due to the evidence of strong near-surface mineralization in holes FA-19-067 and FA-19-073" Next, I LOVE the drills that are coming in the FA-19-071 through -076 series. While these are not currently assayed, the prases used to describe them include:
"several mineralized zones", "several significant mineralized zones", "network of gold bearing zones", "network of visible gold bearing veins", etc... etc....
Really this should come as no surprise to anyone anymore, this entire area both shallow and deep is heavily gold mineralized and the more drills we sink the more we are going to find.
As for the diagrams, all I can say is they pretty much speak for themselves. A picture is worth a thousand words they say, but in my opionion, these pictures are worth about 5 -10 millon (ounces not words).
Figure 1 - looks like someone got the VG keys on a typewritter stuck and couldnt stop typing. and there is no way to not notice the pattern traveling (and getting more concentrated) south west from the main Gabbro zone. Beautiful!
Figure 2 - once again a very clear patter of the gold and VG from the Gabbro zone down and to the south west, clearly becoming more and more frequent and rich.
Figure 3 - what I like her is that you can see the trend/pattern that the gold veins/mineralized areas seem to be converging and joining with one another as the depth increases. I think withouth a doubt, they are going to follow this system to depth and find the main monster feeder veins / channels that has transported this gold upwards from the Earth.
Figure 4 - Also shows a nice example of the veins deeping together, and concentrating together into larger and thicker channels. Additionally, the nice shallow pocket forming at the top left of the diagram, where the above mentioned
FA-19-071 through -076 series of drills have intersected multiple gold bearing zones and VG.
Figure 5 - has to be my favorite of them all, very clearly we see the thickening of the gold zones, and very clearly it is demonstrated that they are coming together as they deepen. This can only lead to a much thicker and higher grade resource, which will be that much easier and cheaper to target and mine. Figure 6 - what stands out to me in this diagram is again the clear gold pattern traveling to the southwest (top right toward bottom left) and nice concentrated pockets, but what REALLY gets me exicted about this are the nice thick medium & high grade hits that are going in the OTHER direction. Notice on right hand side in the purple area, we have :
- 5.75g/t over 10.94 m
- 3.61 g/t over 18.96 m
- 3.93 g/t over 20.72 m
- 7.32 g/t over 7.63 m
- 6.71 over 27.35 m
- 5.50 over 10.96 m
and of course untested beyond these numbers. WOW.
In summary, this gold system is getting bigger, richer, deeper (and more concentrated) not just with every press release, but with every drill. I see zero impediments holding this back from a dollar or more in the VERY near future, and well above that moving forward to either open pit and drift mining, or buyout. This is all just my humble opinion, and I for one will be adding to my position on a regular basis as I have been doing for the past year. I feel much comfort in knowing that Eric Sprott has been, and is doing the same! :)
like the capitol one comercials ask "WHAT'S IN YOUR WALLET ? " -- for me its easy --
WALLBRIDGE! -- LOL. GLTA.
Cheers all,
- Jefe de Oro