Post by
production05 on Oct 26, 2017 9:29am
Initial Thoughts - new drill holes
Powerful results to the east.
I think this is a new development, and potentially important news.
I don`t think results this far east of the pit have been nearly as strong. These results demonstrate that the eastern part (further away from the pit) carries tremendous potential - both at shallow depths and at deeper depths. To be honest, I wouldn`t be surprised if we eventually find out that (some parts of Orenada) goes down for kilometres (similar to Sigma-Lamaque (next door), Agnico`s LaRonde (up the road) and other mines in the area).
8.56 g/t Au over 17.5m - starting only 24.8m down
4.28 g/t Au over 35.7m - starting at 223.3m down
The near-surface high-grade results will be attractive for bigger companies looking at the project for any type of deal or partnership down the road. Easy access to high-grade gold is extremely valued for a start up mining operation - as it better positions the mine to pay back the start up capital expenditure debt, and thus reduces the potential for debt default (in the early years, usually challenged by mine start up issues). I just hope that management refuses to sell off the companies until a share price that is many, many, many multiples of what it is today. When it is all said and done - (there are past drill samples along the path, to suggest that) the greater Orenada deposit will likely go for 5 to 10 kilometres in strike length. We are probably looking at a 5 to 10 million gold ounce deposit. And, if it goes down for kilometres - the sky is the limit. A 6 cent share price is truly pathetic (a sad joke) for the results thus far and for this type of potential. I hope that management doesn`t let its long suffering shareholders down - and give up the property for a peanut and a couple of pieces of cheese.
1.65 g/t Au over 95.0m - excellent for (near-surface) open pit, bulk tonnage, mining.
2.65 g/t Au over 47.15m within
1.65 g/t Au over 131.5m - excellent infill results, which shows that nugget effect will likely not be a problem on this particular part of the deposit. Nugget effect is essentially where you find find high grade gold in small patches, and with great inconsistencies, but then find great areas which are just (bassically) barren. A nugget effect deposit is very difficult to mine, due to inpredictability. With 131.5m strike lengths (downdip), the infill results are clearly showing that this is a viable deposit, with little chance of being impacted by nugget effects, in my opinion.
Comment by
easycoder on Oct 26, 2017 9:39am
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Comment by
slowrideasy on Oct 26, 2017 9:53am
Excellent post This company is reminding a little of Barkerville Gold and low and behold, Eric Sprott has jumped in just like BGM This is a nice hold for a year or two and I do expect gold to move during the Trump presidency for this or that. AZX will benefit. I think we should be valued closer to $100-120 m market cap if the other 70 holes show consistency
Comment by
ggrellette on Oct 26, 2017 10:05am
9th news release on drill results and the stock basically goes nowhere, sideways and then eventually down. This never makes any sense to me but it is what it is. BTW the previous 8 releases were good too. Eventually you would think this stock would start to rise and move much, much higher than where it is sitting now.
Comment by
Shylock on Oct 27, 2017 2:36am
CORRECTION - That should read, "Don't sweat the present price . . ." Sorry for the typo.
Comment by
hardluckbadbadd on Oct 26, 2017 3:07pm
Hi goldopp, i m in for sometime...but what i don't understand why people sell for low price .. we are talking millions like today?? I m not sure who s insane now... with other companies miner NR price is up..with all the good NR s we get here no impact... crazy.. Best.