RE:3rd highest grade Oxide deposit in Americas?I was hoping for a bit higher grade, but it is still a good resource estimate compared to other mines. Investors have to remember Wenot is still open to the east, west and at depth so the resource will only grow. And with only under 100,000 meters drilled to date for the entire propertycompared to almost 800,000 meters at Rosebel Mine we have room to grow big.
I think the bigger story will be the Fennell pit. Deposits at Aurora Mine illustrate depth potential to more than 2 km in very similar rocks as Fennell pit which was only mined to 250m depth and then bottomed in a barren180m thick diabase sill. Iamgold drilled a resource below that sill with 46 holes totalling 27,000 meters identifying mineralization down to 967m and still open at depth. Iamgold discovered high grade gold mineralization down 650 m below the sill with the deepest hole to depth of 967 metres which ended in mineralization.
Some of the rather short but impressive intersections were:
• 41 intervals > 34g/t Au over 1m
• 3 intervals 1000 to 3350 g/t Au
• 143m @ 2.6 g/t Au over 1 m
Some of the next drilling at Fennel will be to prove up this historical resource and drill a few deep holes to see how deep the mineralization goes. The historical resource estimate for Fennel will only enhances the Wenot resource. Fennel has a historical resouce of 1.4 million oz. capped at 15 gpt and uncapped at 2.5 million oz.
Then there is Broccoli Hill which has airborne magnetics which highlights a magnetic low signature similar to Fennell. There is so much potential and why Silver Corp has not participated in the PP who know except Silver Corp. I still think they are interested. The VP of Silver Corp, Lon Shaver is still a director for Omai, so they still have their fingers in the pie.