$4,800 a scoop for new Spargos gold ore found today Just saw it. Amazing!! Will comment below KKRGF highlights today:
Initial drill results within 100 metres of the surface have intersected new high grade gold intercepts at the Spargos Project. These include:
SPRC0026: 29.8 g/t over 19.0 metres, including 99.5 g/t over 5.0 metres
SPRC0012: 27.3 g/t over 15.0 metres, including 168.0 g/t over 1.3 metres
SPRC0019: 8.0 g/t over 19.0 metres, including 20.6 g/t over 2.0 metres
SPRC0028: 29.8 g/t over 3.0 metres
SPRC0032: 8.7g/t over 16.0 metres
1. Downhole intervals. Estimated true widths are approximately 70% of the downhole interval.
Two RC drill rigs now actively drilling at Spargos
A new Spargos Mineral Resource is expected to be included in the upcoming fourth quarter mineral resource and reserve update
OK have not completed the PR yet, but just based on the above we are talking an amazing amount of very high profit gold and right on top and easily open pitable. This is 5 separate holes, the first two have almost an oz of gold/ton over just shy of 30 meters!! at 70% true widths that is 20 meters. Think of two 6 story high-rise office building that goes on who know who wide and long footprint that you can open pit at low cost, with practically no overburden at near 1oz call it $1600 a ton. Are you kidding me! Visualize that. With 3 ton bucket that is $4,800 a scoop!
Have done no calcs but we are talking major amount of gold which could be at a $300??? AISC. And three more holes at wonderful grade/width. Spargos bot for very little and with no royalties on it will after this drill report likely be the most profitable mine that Karora has per ton. And think in CC they said mining it in 2021 Q2.
Cheers