Re: Thought experiment thoughts
in response to
by
posted on
Feb 17, 2024 12:09PM
Combining Classic Mineral Exploration with State of the Art Technology
Let me add here, too, lest anyone expect THE discovery to come out of the pending lab report; however good it may be, results from deeper drilling are likely to be better, perhaps much better.
Yes- this is such a very important point. Remember- the main ore body as indicated by ZTEM is quite deep- maybe 3-5000 feet. I'm not sure- but I think we've gone 1-2000 feet. That's why it is very good news that this is recognized by Mr. Bryce and that the recommendation is to continue drilling deeper with the new NQ drill.
But where we are now is not even the main ore body as yet. So whatever the assay shows- it should not be expected to reflect the - hopefully- incredibly rich "mother lode". So- not being a geologist- and not even having stayed at a Holiday Inn- it is but my layman's understanding that we are probably at something like an overlying shield- which I believe is what VP refers to as "skarn". This should show promising hints and indications of what is below- I believe what the geologists call - alterations- which show evidence of hot mineral containing water that percolates up- which in and of itself can be rich in minerals- and is definitely worth mining at shallower depth. But what is below is really what is of interest- which is where the Bonanza grade ore should be found. So we should be prepared for very good assay reports- but with the spectacular results still to come. Please feel free to correct me if my sense of this not exactly right.
Now- to address Bill's concern about the "Party" to which no one might come. In other circumstances- it could even be worse- not only no jump in PPS- but even a possible crash in price. You know- "Buy on the speculation- sell on the news". But I believe the situation- as outlined above helps guard against that. There isn't going to be a one off event- like the discovery of a new drug or the development of a new miracle chip. Instead- we should anticipate a series of important events- good assay results- which will then encourage further drilling, along with the possibility of more easily accessible deposits- followed by reports of bonanza grade ore at deeper depths. Then- follows the task of "proving out" the deposit- which means- not just identifying high grade ore in one core- but embarking on a multidrill campaign to define to size of the deposit. That, I believe, is what finally officially determines its value to investors and potential partners. As good as the ZTEM is- they want drill proof of what is in the ground. But at some point along the way- even before final proof- someone will hopefully be impressed enough to become a partner to bring the project to fruition.
I guess my point is- assuming the news continues to be good as we go along- there are many points along the way which will be anticipated- rather than a one off- and hopefully- the anticipation of the next positive announcement will keep the PPS heading up- and up- with actual value in the ground to support that market valuation.
And yes- Thanks JB and PO!