RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:55m at 3.06 g/t Au - Including 15.9m at 6.93 g/t AuNov.08, I posted here an article from "investingwhisperer' about tremendous potential of our FSX. I'm a follower of Keith Schaefer as mining analyst and I know that FSX is one of his best investment. I'm glad to remake today only the extract which is falling exactly on our discussion about drilling, mineralisation and money. 'When Kirkland Lake acquired the Fosterville Gold Mine, it was not a big deal — with just 244koz of gold reserves grading 7.0 g/t.
In fact, the geology at Fosterville starts off with low grade (1 g/t) oxide mineralization at surface — perfect for a low-cost heap-leach operation that can generate cash flow quickly.
As you get below 40 metres though, the geology turns to sulphides and gets higher grade — 3-10 g/t. And for most of its modern existence Fosterville was a small mine producing 100-130koz/year at moderate grades of 3-6 g/t.
After Kirkland Lake bought the mine in 2016, they drilled deeper (into what is known as the Phoenix Zone) the results improved, still with disseminated gold in sulfides but at higher grades. The Phoenix Zone was just a taste of what to come.
Kirkland Lake continued down — 1,200 to 1,400 feet. That is where they hit the motherlode… where they caught the Swan… quartz veins that had bonanza grades.
Here are the gold grades reported in this press release from Kirkland Lake in 2018:
289 g/t over 6.0 metres Estimated True Width (ETW)155 g/t over 9.9 metres ETW423 g/t over 3.2 metres ETW215 g/t over 5.9 metres ETW".
Underlined in yellow you could find about the same drilling results and about the same depth like on last Friday FSX news release. The bonanza grade is not for tomorrow. We must pay more attention and be more impatients about corporate steps than about exploration steps. Silence please, Rex is working by the way !