You need to pull it down, before it shoots up to the sky.
Gold is just like an elastic. When it moves abruptly down, it's more of a sure thing it's about to love abruptly back up.
I expect a lot of action in September/October here.
These $WEX prices will be a gift when we get through the fall.
Historically majority of drilling here has been vertical (85-90 degree) angle drilling. RC for shallow, then DC extensions. This means whenever drilling changed, 5m of core was spoiled. Often the spoiled core was mineralized. So a lot of mineralized core wasn't logged in this format. Also drilling always in this format didn't show management a clear picture of the orebody.
This program is the first ever horizontal diamond drilling program. They will for the first time ever drill the deposit at a 45-60 degree angle, and by the looks of it from the North/North East to the South/South West. Which in my view appears right down Main Street of strike. This will allow the drill to pass through more orebody and allow management to better understand an additional dimension.
Essentially they are about to put a long flat drill hole into an orebody running long and flat. If the orebody in the jarbridge rhyolite starts running back towards surface. We could end up with one boomer of a hole.
Investors should be alerted that anything is possible on this deposit. Broad low grades (100m-500m), medium width (20m-100m) high grades and short width (1-20m) bonanza grades. All could come out of this drill program. This hole is the juicy hole, the hole they saved for Gravel Creeks debut on markets. It could be a doozy.
30 intercepts exist outside the resource with 5 g/t or greater intercepts in it. If they hit on this hole, a lot of understated results are about to get a serious upgrade. Could bode very well for the resource estimate upgrade coming at year end.
The two largest soil samples on the project are on the Barrick claim adjoining Wood Gulch to Gravel Creek. That ground is like a century old bottle of wine waiting to be un-corked. It's never been drilled, but everything in the geo and the geophysical indicates it's mineralized at depth connecting Wood Gulch to Gravel Creek. If this program hits big, I think the El Oro (He Gold) property will vend in and exploration at the Aura project will vault into the multi-drill level in 2023/24.
$31m to $331m in a year or less is very possible for a junior miner with a team and ground like this. No doubt about it.
Full Disclose: Long-Term Shareholder $WEX