RE:RE:RE:RE:CompanyI'd also point out that even a few rounds of bad assays wouldn't be the end of the world. The CEO of Aurania wrote a letter on this subject about a week ago which was very interesting.
"I don’t usually follow internet chatter, but from time to time there are persons out there who, if not actual chatroom “trolls” with a hidden agenda, are certainly being a bit unkind by referring to our drill holes as “dusters”. Years ago, I worked for the Battle Mountain Company in Australia on a property larger than Aurania’s and our boss was interviewed by a magazine and quoted that we were engaged in “negative prospecting”. He took a bit of flak for that because it sounded like we were “looking for nothing”, and had to follow up his remarks in a subsequent edition by saying we were trying to disprove as much of the property as we could, rapidly, so that we could focus down on the important discoveries. Seasoned explorationists knew exactly what he meant the first time; essentially you have to drill a lot of “dusters” to find an orebody. If you don’t, you potentially leave something big; perhaps world class – on the table for the next guys. Same thing if you give up too soon. One of the greatest minefinders who ever lived, David Lowell, spent four years on the “Covered Areas Project” in the western USA, drilling 20 porphyry copper-type targets with 120 holes. All “dusters”. The 121st though hit sub-ore grade at Casa Grande West, and the 7th hole in that target hit ore grade. It came in at 500 million tons @1% Cu. My point is that if what you want is “instant gratification” then investment in junior mining is not for you. The only exploration company that never had a “duster” in its drill programme was Bre-X and that was a scam. Natural systems have more barren or subeconomic assays, even in the vicinity of high grades, than anything else. It is a fact of life. Another twelve months from now, I can see us with a couple of drill machines chasing grade down dip or along trend, and maybe two other recon rigs mostly drilling “dusters”."
https://ceo.ca/aru?e0b180e74fef
I believe at the very least that Bayhorse will upgrade the inferred resource to indicated. Graeme sounded extremely confident about that in the Lobo Tiggre interview and said that it would only require "a few drill holes."
Timestamp 29:40 https://youtu.be/4zApsclnlTA?t=1779
Graeme: "We are at a point now where we can actually set drills up and start drilling now to the south, to see whether that dip to the south is in fact there. We are permitted for everything. We have a whole lot of confidence--we have Apex Geoscience, which, along with Gerry Ray, did the 43-101--Apex did the resource calculation. They are pretty excited about it--they are pretty confident--they say that, with a few drill holes, they can probably put a small reserve in there."
He continues to talk on this subject for another five minutes and concludes by re-iterating, "a few drill holes will pretty much confirm all the numbers."