Is this the big week????.
Gold boom - This is why I buy shares
Boom!Recent gold drilling has put a rocket under several explorers, which caused me to revisit HLX’s gold prospectivity ahead of the upcoming Cobar gold drilling campaign, with at least 16 holes to go into 8 gold targets (min. 2 in each) in Phase 1, with more in Phase 3 in what then seem to be the best targets.
But first a reminder of 3 remarkable recent high-grade discovery stories to get the juices flowing, all at a time of a gold price circa AU$2500:
·Within one day – yesterday - RXL stacked on ~$47M market cap, following results of one more exciting drill hole at Youanmi, and talk of visible gold in rock chips;
·Within 2weeks MGV added nearly $120M market cap, after jumping 28c - from 15c to 43c -following 2 sets of stunning results at its gold project near Cue.
·Within 4months DEG has gone from 5c to 61c (despite more shares on issue), with its market cap now over $700M on the back of its breathtaking gold drilling results in the Pilbara.
Stunning results; big paydays
So could Helix have a big run too??Short answer: “Yes”, especially off a current market cap of $4.8M (yes, that’s right).Rox added 10 times that just yesterday, Musgrave has added over 20 times that and DeGrey has put on maybe 100 times that. I’ve been in each story at some stage and they’ve all had their moments of frustration – but it’s amazing what you can find when you go looking – with skilled people, persistence and some luck.
Looks good.Here’s some of what caught my eye, with extracts from HLX ASX releases in italics:
GOOD REGION, BIG HOLDING - 600km² within 50km of mining hub of Cobar.Peak Trend 30km away; Mt Boppy Mine, 500k oz @ 10g/t – 16km away.
EXISTING GOLDFIELD “The project encompasses the entire historic Battery Tank gold field within a prospective geological setting, and hosts regionally significant structures. The … setting is analogous to the nearby multiple-mine Peak Trend (over 4 million ounce gold endowment)”. A good place to find gold is in a goldfield - especially one near a mining hub!
GOOD GEOLOGY & GEOPHYSICAL – The Peak Trend is hosted in an anticline; so are our deposits.There are other important similarities, too.
Plus, important pathfinder minerals (arsenic and antimony) are present above new high-potential targets in the recently available north of the goldfield – see below.Nice.
CHEAP‘STARTER’ JORC ALREADY, WITH GOOD HITS BEFORE - Helix already has an inferred JORC2012oxide gold resource – of 118,800 oz. at 0.4g/t Au cut off, or 54,300 oz. at 1.2g/tAu cut-off.This was derived from four prospects only (Good Friday, Boundary, Sunrise and Battery Tank),for a total discovery cost per ounce of ~ A$25 per oz.
Good as that was, there is “opportunity to significantly expand with further drilling.” In fact, the ASX release of 3 April 2017 said:
“The goldfield has potential to be more extensive than previously recognised and the known prospects (Battery Tank, Good Friday, Sunrise andBoundary) may be linked based on this new interpretation”. Time will tell, would be brilliant if they were.
Previous hits included –
·20m@ 25.5g/t Au and 39m @ 2.4g/t Au – Good Friday,
·45mat 3.4g/t Au, and 70m at 1.1g/t Au - Boundary,
·28m@ 2.3 g/t Au - Sunrise, and
·43m at 2.3g/t Au – at BatteryTank – “from surface to end of hole…Including: 11m @ 5.1g/t Au to EOH, finishing in high‐grade gold mineralisation”.Blade refusal issue – see 24 January 2017 ASX release.
DEMANDS DRILLING - From the 20 May 2020 ASX release: “Resource grade intersections from near surface in first-pass drilling, and high-grade rock chips at new prospects requiring immediate follow-up drilling.
· * 20m at 1.1g/t Au at Reward Prospect,
· * 17.7g/t Au rock chip from historically mined lode at Lone HandProspect and
·* 2.2g/t Au from grab sample of spoil at the Girl in BlueProspect.
·* Several other historic prospects exist with shafts, pits and dry blowing activity evident, including Homeward Bound and Republic Prospects.”
MUCH OF IT UNTOUCHED - Many more prospects have already been identified, almost to the point of being a bit confusing.Nice problem to have.Some have never been drilled. e.g. see pics of old shafts – still undrilled - at Homeward Bound Prospect and Girl in Blue Prospect (2.2g/t Au from grab sample of spoil) in ASX release of 17 July 2017. It gets better.Some very prospective ground has not even been available for exploration for years, so more prospects inevitably will be generated. Check out aeromag-based ‘Figure 2’ below (from the 25 May 2020 release) which shows:
* 9 existing named Prospects,
* Priority Points of Interest
* May 2020 Roc chip locations.
NORTHERN PORTION and ROCK CHIPS - From the 25 May 2020 ASX release:
“A recent positive development …has been gaining access to the northern portion of the goldfield, which encompasses the fold closure of the Restdown Anticline(see Figure 2). …It is believed that no company has had access to the areas ince at least the early 2000’s, with only minor surface sampling evident from public domain data, mostly collected in the 1980’s.
The imited and broad spaced surface sampling indicate pathfinder minerals (arsenic and antimony) are both present and elevated in the fold nose area. The foldnose target zone covers approximately 50km2. For this first-pass assessment, 70 Rock-chip samples have been collected from priority structural and geological targets…. have been sent to a laboratory forassay and results are pending.”
So they’ll help us work out targeting and priorities when we get them; can’t be long now …
IN SUMMARY - Excellent story in an have a MC of less than $5M in this gold market, given the gold acreage + Collerina Copper Project + excellent regional exploration (with satellite potential, like Yathella) and outcrop untested by the drillbit, all thrown in as well.Really??
###next BIG thing 4 May
Looking ready to blow.
Next BIG thing, how about a update on this monster mine, and hows it going with that rig that was on its way, has it arrived???.
welcome to dud city...always dyor watch hlx hip imo
###next BIG thing 4 May
Looking ready to blow.
next big thing, how about a update on this baby???.
Still waiting for that rig to arrive????????????.
HIP $$$$$$$$ hlx $$$$$$$$$$$$$$ watch...
Not THE week. But not bad chammmmmmmp...
How far off is an AUL deal over A1 now that Gandel has blown up the cowboy’s DOCA?
Nothing to say Sando?
go the dud while hip hlx mgv deg rxl vmc boom$$$$$$$$$$$$$..the aul dud is a dud always dyor..
Sandunes is the main reason TS is a struggling business. He needs to join the other ex hero TS scum bags on the shiny new shit heap.
Bin this flog now. He’s costing TS users by the repellent nature of his absolute stupidity.
Stretch is also a total scum sucker who deserves to be cancelled.
How are you still here you bottom feeding scumbag?
have warned for months on months avq was a scam and it is imo will never relist imo ... aul is a dud mine again warned for months always dyor good luck watch hip hlx $$ into coming drills..