Shiftyone:
First off... I don't remember where the last 4 or 5 holes we are awaiting results on were drilled. I'm not sure about what area. I recall them being vertical??? And were they outside the "western extension"?
Here is an excerpt from the NR:
TORONTO, ON / ACCESSWIRE / September 12, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQB:SGNLF) is pleased to announce additional assay results from its 5,179-metre diamond drilling program at the western extension of the Goldboro Deposit at its Goldboro Project in Nova Scotia ("Goldboro", or the "Project"), which was designed to target near-surface mineralization immediately west of the existing Goldboro Deposit with the goal of delineating additional open-pit Mineral Resources (Exhibit A and B). These results are in addition to the high-grade intercepts previously announced on July 24, 2024, and August 20, 2024.
"We continue to be excited with the drill results from the western extension of the Goldboro Deposit. These latest high-grade results continue to demonstrate continuity of the Goldboro Deposit to the west and the potential for additional open pit Mineral Resources outside the current Deposit. Five of the seven holes reported target the north-limb of the anticline further confirming a continuous system of gold mineralization on both the north and south limbs of the host structure. We believe there exists the potential to meaningfully grow the Goldboro Deposit and, through our ongoing regional exploration work, there remains significant opportunities for gold discovery within our consolidated land package in the historic Goldboro Gold District."
~ Kevin Bullock, President and CEO, Signal Gold Inc
Shiftyone:
In response to your questions about what I would consider amazing results.
I would love to see them get the top hundred meters at 4.6 grams/ tonne.
If it's around the 2-300 meter mark... I'd like to see them find a huge vein. Thick. And lots' of gold.
Thanks for your answer but I would need more details. What are you considering being a "huge vein"? A "thick vein"? "lots' of gold"?
For now, only your "top hundred meters at 4.6 grams/ tonne" can be considered. That would surely be "amazing" but you are shooting at the stars here since the geology and type of deposit are quite known at the moment. The objective of the drilling campaign is to determine if the deposit's structure continues west. The geology of what we have east does not support the probability of what you are looking for IMO. So if ever they find 100m of 4.6 g/t, that would not simply be "amazing", it would also be "game changer" and "stunning surprise".
For me, "amazing results" would simply be the continuity of the deposit with the same average grades and ore accessibility than the first two pits. Amazing would be that they can work on a third pit that could double the annual gold production for the first 5 years using the same infrastructure than the one that will be used in the area.
I hope you see my point here: people have different definitions when using words to express emotions. When we discuss about investing, we need to compare oranges with oranges. I'm not saying that my definition of amazing is better than yours, but I would be a lot less disappointed than you if the "only" find "good" results...
What are the chances they find "lot's of gold" in the remaining 3 holes? Not that good. What are the chances they find continuity of the deposit with results that compares with the ones they released earlier about this drilling campaign? They are fair.
I'm a long time investor with Signal and my objectives are based on market conditions and fundamentals. It's different from short term investors wanting a quick pop in the price. It's also different from someone working at keeping the price low thus working on setting the expectations so high to scare new investors when results are simply "fair".