WG decides to drill deeper at ToiyabePer Jeff Clarke (@TheGold Advisor)
This is very encouraging. Based on the core the geologists are seeing come out of the drill, management has decided to drill deeper than originally planned.
Drill hole T2301 reached its initial planned depth of 500m and based on feedback from the technical team, it was determined they would continue drilling deeper. You’ll recall this is the program that EMX Royalty’s drilling subsidiary Scout Drilling has been carrying out. They’ve already acquired the additional rods to drill to a greater depth.
The drill will go right down the middle of an open space, an untested area management believes could contain the same mineralization that’s been seen elsewhere on the property. This additional deep drilling will be thoroughly testing for the feeder source of the gold previously found.
If Westward hits here, it will show the mineralized trend continues and could mean they have potential for a big deposit. This would obviously impact the stock price, too.
The first 245 meters (800 feet) of core have been shipped to the lab in Elko, NV, and will take approximately 3 weeks to assay.
The stock is still at a C$14 million market cap. This is an early-stage speculation, but we’re seeing the early-stage signs of exactly what management was hoping to see. I’ve bought two additional tranches of the stock since inviting Westward to the site. If they hit here, I don’t expect this to be a 13¢ stock for long.