Why GLM is an "interesting" investmentA bit of technical information (easy read):
GT = Grade x Thickness of a drill hole (example 10 meters @ 10g/t = 100 GT).
The majority of >2 Moz Au deposits have initial GT intersects >50 GT
When a company drills less than 4,000m and hit a 75 GT intersect, this could be very significant.
GLM drilled 1,600 m in 2020 and below are some of the equivalent GTs:
23 m @2.8 g/t = 64.4
23 m @ 1.1 g/t = 25.3
Historic intersections GTs:
27 m @ 5.5 g/t = 148.5
21 m @ 4.2 g/t = 88.2
41 m @ 2 g/t = 82
To capture most of the gold in a gold deposit bigger than 2M oz the discovery intersect should have at least 5m of mineralized rock.
Can GLM define a gold deposit greater than 2M oz?
I like the grade, I like the thickness and the fact that is close to surface (amenable for open pit mining) is a bonus. Is this in a safe jurisdiction? Nevada is the best place to mine in the entire World.
2021 drilling campaigns will be very interesting, as permitting is in place and they can drill with all the flexibility they need to go after the best targets (12+ targets in total on the property, only 2 targets drilled in 2020).
Note: I am a trained professional and this is not a recommendation to invest in GLM. Do your own DD before investing in any company.
Happy New Year and Happy investing!