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Hongguo International Holdings Ltd. USD SHS HGGOF



GREY:HGGOF - Post by User

Post by tarsandson Oct 01, 2022 2:18pm
297 Views
Post# 34999527

Gwen says

Gwen says Great results and Ellis may end up being 2 million ozs + , but for some reson the market just does not care. 

HIGH has been busy testing the Ellis zone on its Difficult Creek prospect on the Johnson Tract property. So far, the company has drilled 36 holes for 4,935 metres into the Ellis zone. It released assays for six holes from that work this week. The results were outstanding. Highlight assays include 14.8 metres of 14.3 g/t gold equivalent, including 6.8 metres of 28.7 g/t gold equivalent (Hole 46). Hole 45 returned 35.2 metres of 6.7 g/t gold equivalent including 1.9 metres of 36.2 g/t gold equivalent and hole 44 cut 20.3 metres of 2.9 g/t gold equivalent.

Ellis remains open in all directions. To date, seven holes from Ellis have returned intercepts with greater than 100 gram-metres intercepts (in gold equivalents). That matters because zones that return 100 gram-metres intercepts early in their discovery have statistically much higher odds of being 2-million-ounce-plus deposits. Combined with the million plus ounces HIGH has outlined at JT, that would be a resource that could easily attract a major. Great stuff. The market won’t care at the moment, but Ellis is starting to show strength.
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