RE:RE:RE:The Science of Gold Exploration Supports MMV & Immense Scale Here is my interpretation of the news release:
With the exception of ST19-011 where we were within close range of economical grade gold with an intersept of 4.21 g/t over 1.25m (its vertical component is very likely multiples of 1.25m since ore bodies in these Homestake systems run vertically), the rest of the holes produced low numbers.
However, the news release provided an opportunity for the company to share some of the other relevant findings around why the Standby gold zone is a repeat of Homestake and where to place the next drill holes to increase the likelyhood of a discovery – the essence of exploratory drilling based on science and experience.
The news release is divided into 2 sections: 'Upper Tail Gold Zone' (up to where we drilled so far and why it is a Homestake pattern) and 'Larger Gold Potential Corridor' a newly defined gold zone runing underneath existing drill holes towards the known high-grade Target 2.
For the 'Upper tail gold zone', we have 4 drill holes from historical to present that indicate the presence of economically minable gold (ore bodies) that follow a down-plunge path from the upper-tail to the upper-end of the Centroid (where the thicker gold mineralization begins to occur). As per Homestake model, there is likely a lot more of these smaller ore bodies scatterred across between upper-tail and upper Centroid, and as per news release, they want to do in-fill drill program to get a rough estimate of how much of this economical gold exists. Based on the drilling to date, and having the estimated dimensions of the scale, based on known Homestake models, I've heard some GEOs close to the play estimating around 1 million ounces of inferred resource in the upper tail (90%+ is in the Centroid). Of course the company cannot put back-of-the-napkin estimates like this in a news release, but this is why they mentioned they want to do in-fill drilling (probably after Target 2) to show a little more accurate estimate. The in-fill drilling is good news.
The drilling to date has helped with defining the 'Larger Gold Potential Corridor' high gold zone, which runs underneath all the rest of the drill intercepts and defines the path they will take towards Target 2 (see company's presentation slide 8 for a visual). Essentially, we have multiplied our range of strong targets on the way to Target 2! This is good news.
I believe we should be hearing more about the start of the drilling next week. I have added a little more in the 0.26-.28 range today.