Post by
Retiredgeo on Sep 03, 2024 11:07am
Press release
As I mentioned in my Aug 08 post the first drill holes into blind targets are orientation holes. None of the 3 holes announced today found any mineable results and none were expected to.
Hole 01 encountered a halo of Au-Pb-Zn at Cruz de Sur. I'm not sure what to make of this. Porphyry systems will generate Au-Pb-Zn rich fluids which can travel a considerable distance from source.
Hole 02 encountered standard Cu-Mo porphyry mineralization meaning they are on to something. Porphyries are zoned like an onion with the mineralization weakest in the outer layers and strongest in the inner layers. This is a very promising result. Go team Go!
Hole 03 encountered alteration which could be from the outermost layers of a porphyry system. The hole was ended early so we don't know what might exist underneath.
In exploration you drill your blind targets then you prioritize your targets. Not every drill hole is going to lead to an economic discovery. To date they are averaging one out of three which is damn good!
The stock went down this morning as clued out speculators bailed. It's hard to say what they were expecting. I suspect that knowledgable parties are snapping up their shares.