Why is hole MT-20-06 so intriguing...?SKYG had planned to drill Mustang hole 6 to a depth of 180 meters but something beautiful happened as they approached this depth, they encountered the type of rock that is indicative of gold (extensive quartz veining and brecciation). When the geologists were alerted to the core being pulled, they said "drill deeper, we need to see what is down there". They continued to drill then hit an intense section from 250 to 282 meters (32 m in drill length) that contained silicification, quartz veins and associated sulphides, and not only that, when the core was logged they found visible gold. They found several fine pin-point grains of visible gold in a chloritized black jasperoid clast in hole at depth of ~260 meters down the hole (653800 m N, 5422510 m E, azimuth 134, dip -52).
What i find very interesting is this hole was drilled at dip -52 (-90 degrees is vertical) which allows maximum information to be obtained, thus this 32 m drill length of this section could be about 20 meters in vertical length which would be comparable to the Discovery Hole of 92 g/t over 19 meters drilled by NFG.
Let's not get too excited here until we see the assays for the core, in particular this section of the core. If good, this would be fairly shallow which would make this a viable and economic mining depth. I suspect well before the assays are released, the action in the price of the stock will tell us whether it is good or bad, but since they found visible gold in this type of rock, my guess is this hole is going to be good, and perhaps even great.
The many that sold and left this play are likely going to be watching closely and wondering if they should get back in, still cheap at these prices.