A few thoughts on the PRA few thoughts on todays news…..First off let me apologize if what I outline below sounds repetitive. I don’t mean to repeat myself, but in highlighting several things, they continually lead me right back to the same conclusion.
I believe this was a GREAT press release with regard to the “big picture”, but I think many only saw it in the ‘small picture’ sense. I am sure many were waiting to see jaw dropping grades and thicknesses, and when we got only “good” results there was a little disappointment and we saw some profit taking and some selling into that. As I say, I feel those sellers were not seeing the “big picture” that this press release really speaks to.
Some examples of what I mean…from the press release:
“Hole FA-19-094 has returned assays of 32.18 g/t Au (21.56 g/t Au cut) over 9.70 metres, and the first two deep holes confirm continuation of the Lower Tabasco Zone to a vertical depth of 850 metres.” · the small picture is the 32 g/t over 9.7 meters…..its good, its rich and thick.
· the big picture is “the first two deep holes confirm continuation of the lower tabasco zone to a vertical depth of 850 meters” ---
The continuation of the tabasco zone is what we should all be watching at this point, because it is looking more and more like the “pluton” in a volcanic deposit. Take a look here:
https://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1etvkum-plutons.JPG then take a look at the WM diagram:
https://www.wallbridgemining.com/i/maps/20200106_Fig_2_Tabasco_Long.pdf when looking at this one, notice the FA-19-104 hits well outside the purple zone….and again, double digit width (26 meters of vg and sulphides) – so we can guess-timate that it for sure continues to the east for sure…..I’ll take bets that this 26 meters is another double digit g/t intersection.
The fact that we continue to get double digit grades and widths in the lower tabasco tells us we have no idea how big it is, only that it continues to get bigger and bigger with every drill. This is the big picture. It is open in all directions, and that should be what we are focused on and what we should still be VERY excited about in my opinion.
“Hole FA-19-094, together with previously reported intersections of 22.74 g/t Au (18.87 g/t Au cut) over 48.01 metres (in hole FA-19-086 located 100 metres up-dip), 20.89 g/t Au (20.89 g/t Au cut) over 8.54 metres (in hole FA-19-52 located 110 metres up-dip to the southeast) as well as visually strong mineralization with assays pending in FA-19-103, have defined a high-grade core of the Lower Tabasco Zone (see Fig. 2).” · Small picture- another double digit g/t hit over 8.5 meters
· Big picture – we have defined there is a high-grade core to the lower tabasco. And it is still growing and in all directions.
“The first two deep holes are 240 metres apart along strike, and over 200 metres below intersections in holes -092 and -096. Hole FA-19-099, the visual description of which was reported in Wallbridge Press Release dated December 03, 2019, returned 5.06 g/t Au over 15.15 metres. Hole FA-19-104 returned a 26-metre core length intersection with visible gold and sulfide mineralization; assays are pending.” · Small picture – 5 grams over 15 meters
· Big picture- this drill is exactly in line and below other hits of similar width, BUT, this the thickest of all of them. See diagram 2….directly above it are high grade hits but all less than 15 m. Again this demonstrates this deposit gets both thicker and richer at depth, and that this zone is growing.
"These latest results confirm the presence of a high-grade core to the Lower Tabasco Zone, which is currently defined by three holes 80 to 100 metres apart, all with grades of greater than 20 grams per tonne gold," stated Marz Kord, President & CEO of Wallbridge. "In addition, our first two deep holes have greatly expanded the known limits of the Lower Tabasco Zone. A major focus of our fully funded 2020 drill program of 100,000 to 120,000 metres, will be to complete the infill drilling necessary to bring the Lower Tabasco Zone to the resource stage by early 2021." This last statement is exactly what I am talking about with regard to the big picture. Hole after hole expand this resource, even when the holes are 100 meters apart. This zone is BIG. This zone is RICH. This zone is still GROWING. And its growing in THREE DIRECTIONS. If this story was an Alien movie, this would be the part where they find the entire planet is full of caverns full of Alien eggs as far as they eye can see….
Sprott is not continually buying wallbridge shares like a kid in a candy store with 100.00 bucks in his pocket because of individual drills at Fenelon (don’t get me wrong we have GREAT drills) but he is buying it because he can see this is just the beginning of a very long and large story that is unfolding. Given many mines in this area go for kms in depth, and we happen to have a deposit that thickens and gets richer as you go deeper, you can put 2 + 2 together and say it looks VERY likely we are going to be another on of those mines. And that is just the tabasco zone. We are still open to northwest, to the south, and to the northeast with the entire Area 51 gold system.
Another point I love from this release was the comment
that : “While mainly targeting the Lower Tabasco Zone, the Company is continuing with its efficient drilling approach whereby all drill holes cross, and therefore expand and infill, the Area 51 Andromeda corridor before reaching the Lower Tabasco Zone.” IT is plain to see here how well these guys know their stuff, waste no time or money, and use this knowledge to maximize everything they do. They are not just blinding drilling into the lower tabasco, no they make sure to place the drills in a well thought out and laid out pattern so they cross, and provide infill drilling at and closer to the surface, AS WELL AS hit the lower tabasco. A more efficient , knowledgeable, professional and quality team I challenge anyone to find in any Jr. mining explorer today.
The second thing that jumps out to me is the hits from drill 19-106. Notice how far away from the others they are, well into the Jeremie Pluton. And of course, nice and thick with lots of VG….sounds familiar. Not too mention this extends the near surface zone by another 80 meters. Gee, ANOTHER area that is STILL growing. I am sensing a pattern here. LOL.
As for the diagrams:
Figure 1 :
2 things jump out at me in this figure. The first is how there is a much higher concentration of VG hits where the Andromeda zone runs right into the Contact and Tabasco zones. Its like waves in a pool coming from different directions….where they come together it creates the most motion and disturbance. Here we see the most VG hits where the zones running in different directions collide. Will the Orion zone produce the same effect where it collides with the same zones a little further to the northeast? My bet is yes.
The second thing that jumps out to me is the hits from drill 19-106. Notice how far away from the others they are, well into the Jeremie Pluton. And of course, nice and thick with lots of VG….sounds familiar. Not too mention this extends the near surface zone by another 80 meters. Gee, ANOTHER area that is STILL growing. I am sensing a pattern here. LOL.
Figure 2 :
- See notes and diagrams above.
- Giant-a** Ball of high grade open and growing in three directions, pretty much sums up this diagram.
Figure 3:
- High grade at surface, high grade in the middle, and more high grade down deep.
- And open and growing along stike and at depth.
- 800 meters and the veins are 26 meters thick!! I wonder how thick they are at 1.5km?
Figure 4
-what I like about this diagram is the clear convex pattern that we have and do see in many of these cross sections. You can see the contour of the mineralized zones tapering in together as they deepen. This is a pattern we want to continue to see, and indeed we are seeing it again and again. At some point (I believe) these zones are all going to become one or two very thick and very rich veins that have fed and produced this gold system, and these will inevitably lead to the mother lode. Follow the golden bread crumbs…..
Figure 5 :
What I love about this diagram is the sheer number of VG hits, and the massive amount of red mineralized intersections. Really quite spectacular. I mean , just look at all the mineralized zones that hole 99 runs through! Not to mention it hitting 15 meters of 5 g/t as well. The middle of this diagram looks like a bull fighters cape, red on red, and all coming together like bunch of baby ducks.
We then have the table with the drill results, where 9 out of the 10 lines have double digits of either width or g/t. What a beautiful site.
With this release I also noticed that some of the newest drills are assayed, but many of the much older ones are not. This tells me that they are indeed prioritizing drills they believe to have more relevance and importance to their drilling decisions, which is of course, very clever and important. They are looking to report back quickly with what are key pieces of information not just for investors, but for the continued success of their drill program. Once again I have to say what an incredible and talented team we have here. While there is not much in life that is 100% sure, I am 100 % sure that this resource will continue to grow for the foreseeable future, and my money could not be better placed.
Cheers all,
- Jefe de Oro