NWR - Northwest Resources

[Bush Trader]

Hopefully that correction today got rid of the pretenders and speculators and left just the long termers

The price held up very well really, I sat out today too busy at work, however to fall to 29c and ralley back up to 34c is a bullish sign indeed. I think an anouncement is about due, might explain support? Options were in the green.

Next step is to attract some grey haired super money before June. I wonder if the directors will exercise any options, this will be the trigger for the ralley.

Best of luck to all holders

Cheers

 

[sydneysider]

The price held up very well really, I sat out today too busy at work, however to fall to 29c and ralley back up to 34c is a bullish sign indeed. I think an anouncement is about due, might explain support? Options were in the green.

Next step is to attract some grey haired super money before June. I wonder if the directors will exercise any options, this will be the trigger for the ralley.

Best of luck to all holders

Cheers

IMHO NWR is now drilling out one of Australia's highest grade gold deposits. The Blue Spec Shear now has 9 very large targets and potential (as NWR say in to-days report) runs into multi millions of ounces of gold. They have obtained the services of some of the best geo's in Australia. They quality of their work is shown in the fact that dd drilling on the Blus Spec Mine at depth of 400-500 meters have recorded NO MISSES. ALL holes carry very high grade gold interesctions. They do this by downhole vectoring 9similar to nickel exploration). Hi-tech is a wonderful thing. These techniques will now be applied to the next phase of drilling on these 9 targets. This could turn out to be one of Australia' more exciting gold discoveries. IMHO the Blue Spec Shear and Red Ribbon Shear is now one of the most exciting gold targets in the whole of Australia....

 

[jtb]

Unfortunate release date, has been received with a tremendous yawn.
Still spewing I missed those 14c options yesterday though......
SS ?????????

 

[Bush Trader]

Unfortunate release date, has been received with a tremendous yawn.
Still spewing I missed those 14c options yesterday though......
SS ?????????

Don't worry all the day trading speculators have left, there's nobody listening. Keep picking them up before the brokers have soaked up all the sell volume, once this is done then they will decide to tell their clients how good this company's prospects look On my calculations (which are very subjective), there can't be that many non-institutional shares out there left that are over 12 months old , unless Craigside is selling (I don't think so), so the rest must be short termers, in and out no CGT discount. Unless someone is rolling shares, selling the ones over 12mo into the peakes and buying back in on the lows. Who knows?

JTB the release wasn't that boring, it was easy to read and self explanatory - just missing the hard data from the drill results, unfortunately. However the ideas of the low grade "halos" pointing to the opening of the high grade shoots is interesting. A RAB rig on shallow holes would pin-point these very quickly and cheaply don't you think, and then the RC or Diamond Rig could followup? I not a Geo however.

Cheers

BT

 

[sydneysider]

Don't worry all the day trading speculators have left, there's nobody listening. Keep picking them up before the brokers have soaked up all the sell volume, once this is done then they will decide to tell their clients how good this company's prospects look On my calculations (which are very subjective), there can't be that many non-institutional shares out there left that are over 12 months old , unless Craigside is selling (I don't think so), so the rest must be short termers, in and out no CGT discount. Unless someone is rolling shares, selling the ones over 12mo into the peakes and buying back in on the lows. Who knows?

JTB the release wasn't that boring, it was easy to read and self explanatory - just missing the hard data from the drill results, unfortunately. However the ideas of the low grade "halos" pointing to the opening of the high grade shoots is interesting. A RAB rig on shallow holes would pin-point these very quickly and cheaply don't you think, and then the RC or Diamond Rig could followup? I not a Geo however.

Cheers

BT

They are hunting 5- 10-20 meter wide? veins under about 50 meters of barren cover over halos that measure 2,000m x 250m. They are using limited RC drilling, probably to 150 meters which is too deep for RAB to vector the sites (presume electromagnetically and sophisticated analysis of core and surface samples) where the high grade zones "sites" may be located. They have a 100% hit rate on the high grade zones at Blue Spec using this technology. NWR have stated the potential at 9 x +500,000 ozs = +4,500,000 ounces without any work on the adjoing Red Ribbon Shear, nor the Western end of the Blue Spec Shear.

 

[jtb]

JTB the release wasn't that boring, it was easy to read and self explanatory - just missing the hard data from the drill results, unfortunately. However the ideas of the low grade "halos" pointing to the opening of the high grade shoots is interesting. A RAB rig on shallow holes would pin-point these very quickly and cheaply don't you think, and then the RC or Diamond Rig could followup? I not a Geo however.

Cheers

BT

Agreed, just depends on the depth and / or groundwater present.
A RAB rig can blast across that country however the water can be real shallow and heavy and it doesn't take too many hard bands (quartz, banded iron, silcrete etc) to slow you down.Then the water will come in over the top of you and you proceed to blow the hole to smithereens.
If you need to pull out and put the hammer down due to some interesting basement (or unable to penetrate a hard band with the blade) then you can say goodbye to an uncontaminated sample (read- everything in it from top to bottom).
Aircore was always my preference for first pass, problem is you can't get enough air through the little hammers.
Hence if your semi-serious and your also looking for deep intersects (as in around known targets) their best off biting the bullet and getting a multi-purpose girl in that can put a diamond tail on the end of hole if its warranted.

 

[pacer]

Very astute JTB...and great to have a driller on board that knows what he's taking about....even if he cant spell....lol....sorry.

Do you recon you could explain the method they are using to find halo's and stuff, or give web site that explains the method to the madness...there's a few out there that thought we were gonna get some high grade results, but the last campaign was only to determine the places to drill deeper....well thats my interpretation....ie find the halos that could hve pipes of gold similar to what we already have.

Another 3-6 months will tell the tale I guess, aslong as we dont have to wait for assay results again....
They're drilling around the clock still as far as I can tell, and any substantial rise in the SP from now on means those in the know will be buying....and a speeding ticket will get issued as per usual........

 

[sydneysider]

Very astute JTB...and great to have a driller on board that knows what he's taking about....even if he cant spell....lol....sorry.

Do you recon you could explain the method they are using to find halo's and stuff, or give web site that explains the method to the madness...there's a few out there that thought we were gonna get some high grade results, but the last campaign was only to determine the places to drill deeper....well thats my interpretation....ie find the halos that could hve pipes of gold similar to what we already have.

Another 3-6 months will tell the tale I guess, aslong as we dont have to wait for assay results again....
They're drilling around the clock still as far as I can tell, and any substantial rise in the SP from now on means those in the know will be buying....and a speeding ticket will get issued as per usual........

NWR is already running one diamond drill at Blue spec and last weeks report states that they consider Blue Spec to contain "well over 500,000 ounces of gold endowment" How could they say that? Assuming that a diamond drill penetrates at the rate of 30 meters per day they are now close to completing their second hole thru the section that "runs towards?" Blue Spec East. NWR penetrated three veins (in December) over a depth of 100 meters that are each several meters wide and carry grades between 23 to 176 g/t. We do not know how big this system is either running horiziontally towards Blue Spec East or at depth. What appears to be happening is that it is getting bigger (wider) and possibly richer i.e 1.6 meters at 176 g/t. THIS IS THE AREA that will be now targetted for the current round of drilling both with the DD & RC drills. NWR goes on to say that they consider Blue Spec depth extensions and vectoring on Blue Spec East to potentially " host multiple high grade gold DEPOSITS" As I said before IMHO this is the hottest gold prospect in Australia.

 

[jtb]

Very astute JTB...and great to have a driller on board that knows what he's taking about....even if he cant spell....lol....sorry.

Hey mate, nah that was 'girl' on purpose (assuming that's the error )
When you've got all those motors and pumps hanging off something your forever massaging something and sweet talking your way out of something else.

In regard to your halo question I have only come across it being used in response to geophysical data (thumpers bouncing soundwaves into the ground and being 'listened' to via arrays of wire run km's across the ground).
This will define aero mag results further so you can be confident sticking a hole in the ground.
ie. Definition of the target- once you run off the edge you'll commonly back up half the distance of the depth of the hole (when drilling angles, not vertical) and this will give the geo a profile that he can map.

Have you heard the joke about the Geologist, the Geochemist and the Geophysicist?

After perusing a sample (and licking it) the geologist proclaims "this rock is 10 million years old give or take 10 thousand years"
The geochemist squints his eyes, drops some acid on it and pronounces "this rock is between 5 and 15 million years old.
The geophysicist pulls the battery out of his torch , shrugs his shoulders and says "how old do you want it to be"

In ref' to SS's diamond penetration rate of 30m per day.
Depending on the rock the speed in the silicaeous mafic can be well in excess of this (i've drank with boys nailing 100m a shift).

Cheers

J

 

[sydneysider]

I have just spoken with John Merity of NWR. They start their roadshow tomorrow. Their drilling campaign is currently one diamond drill running at about 30 meters a day (totally focused on Blue Spec depth extension). In the middle of this week an RC drill will start drilling out "vectored " targets at Blue Spec East. This program will consist of 4,000 meters of drilling at the rate of some 300 meters per day. The vectoring consists of assaying much of the "stuff" that comes out of each hole that allows NWR to determine how close they are to a high grade gold vein. They have this analysis down to the point where they can tell down to a few meters how close they are to their gold target. They formulas involved are proprietary.

So in the next three months we will know how big and how high grade the gold system is that sits next to Blue Spec. I am amazed that the stock is so quite ahead of a very major push into a very substantial program.

 

[chris1983]

Im in with 21000 oppies. Picked them up this morning. Only a small holding for me..but I'll probably convert them when we see those huge rises over the next 6 months

 

[Bush Trader]

Im in with 21000 oppies. Picked them up this morning. Only a small holding for me..but I'll probably convert them when we see those huge rises over the next 6 months

Welcome aboard Chris

The SP has held up very well during this choppy period. Notice the falls on opening have occurred the last two days + last Tuesday, only to rebound quickly, this is where the opportunities are. The institutionals are obviously mopping up the weakness, which is a good sign, someone is building their stake with large volume trades. The other hidden strength with this stock at the movement is that it can’t be used as leverage on margin or traded as a CFD, hence no forced selling, unless traders are cashing it to cover their other positions.


Good Luck to all those who are long.


Cheers

 

[sydneysider]

Welcome aboard Chris

The SP has held up very well during this choppy period. Notice the falls on opening have occurred the last two days + last Tuesday, only to rebound quickly, this is where the opportunities are. The institutionals are obviously mopping up the weakness, which is a good sign, someone is building their stake with large volume trades. The other hidden strength with this stock at the movement is that it can’t be used as leverage on margin or traded as a CFD, hence no forced selling, unless traders are cashing it to cover their other positions.


Good Luck to all those who are long.


Cheers

The RC drill arrives on site tomorrow to drill 4,000 meters over Blue Spec East which is 400 meters from the very high grade JORC resource at Blue Spec. Assuming that the first targets are somewhere 50-150 meters distant from the drill site we drill somewhere in the vicinity of 30-40 holes overall. At the rate of 300 meters per day we get at least one hole every day from about five weeks of drilling. So we are a few days away from getting core from one of Australia's highest grade gold targets (Blue Spec is getting up to 170 g/t / 5.5 ozs per tonne 400 meters away over mineable widths of several meters and has a JORC of 1,100 ozs per vertical meter at a head grade of 43 g/t over 150 vertical meters) and the market yawns. IF we start to get the type of grades that are in the Blue Spec Mine then we have one of the hottest high grade exploration targets being drilled in Australia to-day. We should be able to get a steady flow of news (this type of gold will be visible in the cores) with the added plus of diamond drilling results coming from the "deeps"of Blue Spec.

 

[chris1983]

The RC drill arrives on site tomorrow to drill 4,000 meters over Blue Spec East which is 400 meters from the very high grade JORC resource at Blue Spec. Assuming that the first targets are somewhere 50-150 meters distant from the drill site we drill somewhere in the vicinity of 30-40 holes overall. At the rate of 300 meters per day we get at least one hole every day from about five weeks of drilling. So we are a few days away from getting core from one of Australia's highest grade gold targets (Blue Spec is getting up to 170 g/t / 5.5 ozs per tonne 400 meters away over mineable widths of several meters and has a JORC of 1,100 ozs per vertical meter at a head grade of 43 g/t over 150 vertical meters) and the market yawns. IF we start to get the type of grades that are in the Blue Spec Mine then we have one of the hottest high grade exploration targets being drilled in Australia to-day. We should be able to get a steady flow of news (this type of gold will be visible in the cores) with the added plus of diamond drilling results coming from the "deeps"of Blue Spec.

Well that sure does sound exciting I guess they should release a message to say this drilling is going to begin?

 

[sydneysider]

Well that sure does sound exciting I guess they should release a message to say this drilling is going to begin?

They stated that drilling would start on Blue Spec East in early March in last weeks press release.

 

[greggy]

Well that sure does sound exciting I guess they should release a message to say this drilling is going to begin?

How exciting can it be if NWR fell today in a very strong day for the market. Even a lot of dogs had a good day. This is not a good sign for my liking.
DYOR

 

[chris1983]

How exciting can it be if NWR fell today in a very strong day for the market. Even a lot of dogs had a good day. This is not a good sign for my liking.
DYOR

haha

Trust me I'm not excited. I was pretty much commenting on his write up and he put a lot of effort into it which was good to read. I think there is upside to this stock though. They have confirmed there is high grade gold there. They just have to confirm depth extensions.

 

[chris1983]

Chris1983,

Just having a lend of you. Makes things a little interesting. Good luck with your shares.

I know you were taking the piss. We are all aussies here. Thats what aussies do. Sorry Joe! Anyway below pretty much wraps up why I think NWR are worth having. I think lots of investors are annoyed with delays or lack of updates.

JORC resource of 190,000 oz Au @ 43g/t

"Taken from the last presentation"

JORC resource of 155,000 oz Au @ 46.3 g/t (320vm to 470vm) (BLUESPEC)

• Recent drilling confirmed significant strike extensions to east of current resource
• Infill drilling currently targeting grade increases
• Deep drilling targeting significant depth extensions for JORC resource upgrade mid-year (470vm to 620vm)
• Very well understood geological model enables accurate targeting and confirms depth continuation
• Targeting over 300,000 oz Au as development platform
• Antimony credits add a further 10,000 oz Au equivalent to current resource

So they are confirming significant strike extensions, they have a JORC, they have confirmed depth continuation and they are targeting 300,000 oz Au as a development platform which they will get easily.

I mean if there was a sepculative Gold share to go into this is one of the ones I would be looking at.

 

[sydneysider]

I know you were taking the piss. We are all aussies here. Thats what aussies do. Sorry Joe! Anyway below pretty much wraps up why I think NWR are worth having. I think lots of investors are annoyed with delays or lack of updates.

JORC resource of 190,000 oz Au @ 43g/t

"Taken from the last presentation"

JORC resource of 155,000 oz Au @ 46.3 g/t (320vm to 470vm) (BLUESPEC)

• Recent drilling confirmed significant strike extensions to east of current resource
• Infill drilling currently targeting grade increases
• Deep drilling targeting significant depth extensions for JORC resource upgrade mid-year (470vm to 620vm)
• Very well understood geological model enables accurate targeting and confirms depth continuation
• Targeting over 300,000 oz Au as development platform
• Antimony credits add a further 10,000 oz Au equivalent to current resource

So they are confirming significant strike extensions, they have a JORC, they have confirmed depth continuation and they are targeting 300,000 oz Au as a development platform which they will get easily.

I mean if there was a sepculative Gold share to go into this is one of the ones I would be looking at.

Press Release this morning. IMHO this IS the hottest high grade gold play in Australia at the moment and it will have almost continuous drilling all year. A large number of alteration zones have been identified on Blue Spec and Red Ribbon Shear with two drills running continuously. NWR is targeting over 500,000 ozs on the Blue Spec and East targets alone.

 

[pacer]

Planning to bore a sideways tunnel to the other gold deposit sounds very sensible and cost effective.....and you never know what they might find in between........another load of gold they missed even.

Any weakness in the sp and I'm in for more.