IP surveyGold price strong again Monday morning and things are starting to line up very nicely for NRG to have a fantastic year in 2020. We know the IP survey started on 16-12-2019 so should be almost complete even if we allow for a Christmas break. The purpose of this survey is to look for any anomolies beneath the 300 mt deep mineralized sulphides which are known to span 1km by 1.5km. This area of mineralized sulphides is thought to contain in excess of 5ml ozs of very easy to mine gold so what they are looking for is at depth anomolies which could be the source of all of this gold. This is a strategy being successfully executed by Barrick 20kms up the road at the Round Mountain mine and they are getting some very nice grades at depth so they can move to underground mining when their open pit is exhausted. The pediment area in Pamlico is an area Bob Archer has mentioned many times as being very exciting as it has never been explored and he seems to think it has some hidden treasure at depth.
As an example of what can happen to a company who drill into a potentially high grade anomoly take a look at the share price of Advance Gold AAX. It has triples over the last 13 days by announcing they have hit 75 mts of disseminated sulphides at depth following on a very successfull IP survey. They haven't even announced any grades yet but this market is rewarding even the potential of a high grade discovery. Here is the AXA chart for the last three months
https://stockhouse.com/news/press-releases/2019/12/24/advance-gold-hits-78-metres-sulphide-zone-in-fi.
All in all very exciting times at Pamlico. IP survey nearing completion to outline even more areas of high grade that will require drilling. We already have the Good Hope area and the Merritt Decline which require immediate drilling. Price of gold is moving along nicely and we have one of the cheapest potential mines in the cheapest and best jurisdiction in America. This will not be under 20 cent for much longer.