FVL...Some Actual FactsJust a couple quick points to counter some of what has been implied by others.
First off, FVL has owned the property since 1991. This isn’t some dubious exploreco. “pump and dump”. They have systematically explored Golden Summit over the last 30 years. That exploration has included EM surveys in 92-94, an aeromag survey in 2004, IP surveys in 2010,2011 and 2012. Soil sampling (over 1600 samples) in 2011 and 2012. They have drilled dozens (if not hundreds) of holes on the property in over 10s of 1000s of metres leading to a PEA and NI 43 101 resource calculation of 3 million ozs gold. So, there’s an existing resource plus…
It’s worthy to note that the historic Cleary Hill Mine on the property operated in the early 1900s on 6 levels to depths of only 120 m. The average grade was 1.3 oz/t or 40g/t gold. A USGS report on the mine states:
“…Higher grade intervals have gold values from the hundreds to the thousands of ounces of gold per ton…”
As the nr stated, FVL reinterpreted and applied their data to test the span between the existing Dolphin resource and the Cleary Hill Vein system; and the first two holes of this new program were to test their new theories. As we know, GSDL2001 intersected 188 m of 3.69 g/t gold including 2 m of 169.5 g/t (or 6.5 ft of 5.45 oz/t)….the most significant intersection in 30 years on the property. And if that isn’t enough, the hole ended with an intersection of 20 m of 9.87 g/t gold. ENDED in mineralization, so we don’t really know the thickness of the zone, just that it’s greater than 188m!
And the follow up hole GSDL2002 actually was shut down (due to covid pandemic) in mineralization, and at much shallower depths. Interestingly, a past FVL drilled hole GSDL 1210 was drilled about 100 m southeast of hole 2 and intersected 21 m of 34.69 g/t gold (69 ft of 1.1 ozs/t), so it’ll be interesting to see what hole 2 intersects.
After all that, that fact is that the company has been exploring this property for 30 years, a property with outlined a resource of 3 million ozs, and a historic underground mine that operated to limited depths (due to the set gold standard of about $30/oz). They’re applying theories to test the ground between the two, as well as locate a deeper seeded source. I’d say that they’re off to a pretty good start.