a few words and cents on this PR :) First off let me state this “WOW”.
· definitely have lab staffing issues sorted out with this coming just 2 week after the last one--- also,- “Assays are pending for 24 surface drill holes and 82 underground holes with the majority of the latter being short (< 50 m ) definition drill holes in the Main Gabbro Zone.” – you have to love that infill drilling… keep it coming folks!!
· Many have used the De-risked term for this project, I think that term is long gone,,, out of 3 pages of charts there are only a tiny handful of dusters. They pretty much can’t miss hitting gold in any and all directions, as the multiple new zones points out very clearly. We are well beyond being de-risked.
· They’re Not married to production comment from @Tylermuir at the conference, “ we are not married to bringing the mine into production, but we are more than capable and ready to, we just wouldn’t turn down an offer if it will arise and is good for all parties and shareholders.” points out that they are ready for anything, and ready to rock and roll.
· Can’t believe how much detail is provided by the infill drills, so many new zones, so much gold of all grades, and they are going to drill 120k more this year! Phenomenal amount of detail will be provided by these drills
· When they spoke to @Tylermuir at conference were very confident re would be done on time and at that time they knew this release was coming and all info in it, therefore having to get down to 1500 m in tabasco will not slow them down, nor will drilling out to the 800 m step out and to BAR land. RE will be done on time.
· So many new zones shows the sheer size and grade of this gold system, and that’s exactly what this is a giant system of gold….it is not a few good hits of high grade, it is one massive gold system with high grade veins, surrounded by lower grade of enormous lengths, 100 200 meters … all VERY minable and profitable ozs
· Another lower tabasco hit, 5g/t over 35 m, and like a top 40 countdown, the hits just keep coming!
· The new zones very close to surface is a huge plus, they will be more valuable ozs as Uncle Eric states, Cheaper to get to, equals more valuable.
· I think most of us agree that a buyout offer will not happen until the RE is done, or close to being done (i.e. to a point where a pretty clear picture has emerged) However, having said that, I think this information will make KL and others who are interested re-think how long they want to wait before its done to get some early offers in. Marz is certainly being clear they are looking to do ‘what is best for all parties and shareholders’ and I am betting that includes an early offer of significance.
· While there may not be HUGE g/t numbers here, the multiplication rule of halving / doubling certainly applies and changes that dynamic. Simply put, if you take any two numbers and multiply them, 2 x 8 =16, it is true that if you half one and double the other, the answer stays the same 4x4 = 16. Using this and some napkin math, from hole 011 for example – we have 1 g/t over 132 meters, but that is also *roughly equal to 2 g/t over 66 m or 4 g/t over 33 meters…… same goes for the other very long widths of lower grade material.
· The updated interval of 4.16 g/t Au over 35.55 meters in FA-19-099, which is currently our deepest intersection at Fenelon, highlights the continuing strength of the gold system at 850 meters vertical depth and we are looking forward to testing this zone down to 1,500 meters with this year's drill program” - so once again, the tabasco delivers, thick and rich and at depth!
· The fact they are taking this zone down to 1500 meters is incredible and goes back to what Sprott pointed out that many mines in this area go down for Kilometers!
· So we have main gabbro with 1-2 million ozs, lower tabasco looking like much more, Area 51 and new zones expanding in all directions with high grade and massive widths of lower grade, multiple majors interested, RE coming FOR SURE for the whole property in approx.. 1 year, another 120,000 m of drilling to continue to BAR border, AND out to the 800 m step out to the west (which I fully expect to continue all the way on with more new zones like in this release), scores of pending assays still coming with lab now having sorted out staffing issues, I mean, seriously, what else could you want???
· Bottom line. This IS A MINE. Period. The only things left to determine is who is going to buy it, at what price, and at what point before the RE is done. Just based on the gold already discovered, we are at a MULTI DOLLAR buyout. So as I mentioned before, if the bank was selling, 2 and 5 dollar bills for less than a dollar, how many would you buy????
Cheers all,
- Jefe de Oro