14 Days Since Drilling Began… August 1 - WEX Announced that drilling activities had begun at the Aura Project. As of Monday, 14 days passed. Results expected quite rapidly in September.
Management is very confident in the drill bit, so just a small 2000m program was initiated.
I expect us to see about 5 shallow holes at Doby George's Twilight Deposit, following up drilling from last season where $WEX hit 43.4m - 6.04 g/t Au near surface.
Important to note. Management reported this interval previously as two intervals on same hole. There is a 5m mineralized gap unreported in the middle of the hole. Due to cutoffs it wasn't reported, but it has gold in it. I've combined the sub intervals to show what the continuous section averages to. The drills are following this hit to the south in the Twilight deposit. Would be great if an even wider, higher grade hole was struck!
2-3 deep holes will test Gravel Creek. I've surveyed Google sat maps. There is two new pads visible at Gravel Creek. The pads are 150m and then 550m away from the existing orebody in the immediate direction of the sinter exposed at surface. Management believes the deposit could run all the way to the sinter in the jarbridge rhyolites. If it does, it's going to mean this deposit is huge and has the potential to be 5-10moz.
I believe they are doing an aggressive step out program so that a major can come in and infill drill the project as a partner. Here are some examples of drilling at Gravel Creek:
• 46.2m @ 26 g/t Au
Inc. - 16.8m @ 48.14 g/t Au and 24.4m @ 6.22 g/t Au
• 83.8m @ 4.90 g/t Au
• 9.1m @ 41.55 g/t Au
• 21.3m @ 10.31 g/t Au
• 3m @ 40.0 g/t Au
• 29m @ 5.29 g/t Au
65% of the holes drilled on this project strike "high grade" classified results. 95%+ strike mineable ore grades. This is Nevadas top gold deposit not owned by a major.
More specifically this is the highest grade gold resource in Nevada over 1moz Au that is not in production. To me this means it is time for this resource to be a mine yet again.
In 1985/86 the project operated two pits. The Wood Gulch and the Doby George. Production was 80koz at 4 g/t Aueq.
I believe bulk open pit mining production will soon return to the Aura project. 2026 May seem far away, but it isn't. By then they will be washing rocks!
Buy now, wait a few years. This will be a ten bagger or more if they get it back into production and or drill bit continues to be successful.
Goldnboy1