TBA - Tombola Gold

samso · 10 April 2019

Anastasia said:
Thanks for the post. I note that you have mentioned the application of SAM numerous times. With regard to Burra, AUSMEX have been pioneering the application of MT and AMT through a gridded program.

My research has confirmed that both BHP and OZ have been using MT/AMT to define their known IOCG’s in recent times (perhaps in preference to SAM???) and for further exploration in the Gawler Craton. AMG’s use of SAM in the Cloncurry area and MT/AMT in Burra seems to be worlds best practice by this junior and their efforts are being rewarded.

@Anastasia in my opinion, one should use whatever is possible. Cost of these applications are all fairly acceptable. What I have learned over the years is that a good explorer needs to be very open minded.

I would have liked to talk about Burra but that would have meant the article would have become a book

Thank you for your contribution.

Cheers

Anastasia · 10 April 2019

Anastasia said:
application

Samso, I would love to hear what you have to say about Burra if you have the time. Both areas are very very exciting.

samso said:
@Anastasia in my opinion, one should use whatever is possible. Cost of these applications are all fairly acceptable. What I have learned over the years is that a good explorer needs to be very open minded.

I would have liked to talk about Burra but that would have meant the article would have become a book

Thank you for your contribution.

Cheers

barney · 10 April 2019

Anastasia said:
Samso, I would love to hear what you have to say about Burra if you have the time. Both areas are very very exciting.

Ditto @Anastasia …….. Always good to get more input from other Punter's perspective.

Aside from that request …. I note that there has been a fair amount of liquidity at the current SP (14 cents)

Basically, there are obviously a few punters who are well in profit and happy to take said profit ….

Fortunately there is also a notable amount of "new" punters happy to get involved at this price ….

Bottom line is … in the short term, for the SP to increase exponentially, it will require the current drilling to hit something pretty good ………. Otherwise there will be plenty of recent punters who will bail out for various reasons …..

Finding a serious deposit is never achieved over a short time frame, so there will likely be much volatility before we all become filthy rich....

The Kenny Rodgers indicator should always be taken under consideration

samso · 10 April 2019

barney said:
Ditto @Anastasia …….. Always good to get more input from other Punter's perspective.

Aside from that request …. I note that there has been a fair amount of liquidity at the current SP (14 cents)

Basically, there are obviously a few punters who are well in profit and happy to take said profit ….

Fortunately there is also a notable amount of "new" punters happy to get involved at this price ….

Bottom line is … in the short term, for the SP to increase exponentially, it will require the current drilling to hit something pretty good ………. Otherwise there will be plenty of recent punters who will bail out for various reasons …..

Finding a serious deposit is never achieved over a short time frame, so there will likely be much volatility before we all become filthy rich....

The Kenny Rodgers indicator should always be taken under consideration

What's the Kenny Rodgers?

Anastasia · 10 April 2019

I have a feeling it’s in reference to “The Gambler”

samso said:
What's the Kenny Rodgers?

samso · 10 April 2019

Anastasia said:
I have a feeling it’s in reference to “The Gambler”

Oh ok

barney · 10 April 2019

samso said:
Oh ok

"Know when to hold 'em … Know when to fold 'em"

For the record ….. AMG is currently definitely a "hold 'em"

samso · 10 April 2019

Please share my article if its appropriate. Cheers

barney · 10 April 2019

samso said:
Please share my article if its appropriate. Cheers

Nice job on your website Samso

samso · 11 April 2019

would you believe that Hotcopper has just published my article on their Corporate Spotlight and not reference Samso as the author.........
They got it for free...

barney · 11 April 2019

samso said:
would you believe that Hotcopper has just published my article on their Corporate Spotlight and not reference Samso as the author.........
They got it for free...

Could not see it … but any advertising is good advertising

If they've used your personal analysis I'm sure they would credit you if you contacted them though …

The current 14-14.5 cent region is holding pretty tough at the moment …. Time for the drills to do the talking

samso · 11 April 2019

they have taken it down, There was no reference to me... Nada... zero....Why would you not reference, its a universal courtesy.. yes?

samso · 11 April 2019

AMG will do well. In my opinion, the geology stacks up and now its all up to the drilling
The 59m hole is my confidence. You dont get that if there is nothing there.

barney · 11 April 2019

samso said:
AMG will do well. In my opinion, the geology stacks up and now its all up to the drilling
The 59m hole is my confidence. You dont get that if there is nothing there.

No doubt there are minerals all over the place …… The widespread Gold certainly fits the criteria to be a pathfinder to a potential Copper strike.

I think the next round of drilling is to start up close and personal to where NCM have been digging, but they will only be 200 mtrs deep?? …. so no where near as deep as Newcrest would have been digging? If they do happen to get more good copper hits there at shallow depth, that would be a huge result.

If they strike more Cu with the deeper drilling further away into our tenement, it could get hectic very quickly ….. still a pipe dream, but the pipe looks to have a bit of tobacco in it

windwillow · 16 April 2019

Recent article in The Australian, OZ Minerals chief sees deals ahead in copper scramble, provides some perspective for the opportunities both at Cloncurry and Burra. Apparently everyone wants copper assets with OZ resetting its strategy with a focus on earlier stage asset development including partnerships with exploration juniors.

It would appear that OZ Minerals is also working closely with University of Adelaide in relation to the application of magnetotellurics. The use by AMG of the higher resolution 5km spaced AMT survey will generate a lot of local and international interest particularly from companies already invested in the technology. Ausmex is chasing the big footprint at depth to locate the shallow target near surface. Instead of locating the proverbial needle in the haystack, Ausmex is using an altogether innovative approach in tracing the mineral migration from mid crustal conductive zones. Technology could be game changing for the location of IOCG systems.

samso · 16 April 2019

The whole chaisng the IOCG targets is great but I would think that the likes of AMG should not spread themselves too thinly. Money flies out the door when you are a publicly listed company, especially when you are actually doing stuff. AUD7M will not do much if they start allocating to other projects.

windwillow · 16 April 2019

The key first step in relation to Burra is to generate compelling drilling targets. Ausmex may already be close to its objective through world-class and cutting-edge use of magnetotellurics. If there is a deal making copper scramble underway, the funding question could easily be resolved. Ausmex will need to set its priority if faced with two major IOCG prospects in two different states.

barney · 16 April 2019

samso said:
AUD7M will not do much if they start allocating to other projects.

Matt Morgan and the boys pride themselves in spending the bulk of Shareholder money in the most appropriate way so I'm not too concerned about that at this stage ….

Cloncurry is the main focus in the short term. If they dig up something there, Burra will be cream on the strawberries.

barney · 16 April 2019

windwillow said:
Ausmex will need to set its priority if faced with two major IOCG prospects in two different states.

I dream of having that problem lol

windwillow · 21 April 2019

Looking through the Newcrest Briefing Book for March 2019 there is a slide Looking deeper in Australia opens new opportunities. Its a case of the low hanging fruit has largely gone. The Newcrest search and mining space extends down to 2000m into the Deep Search Space. The slide pictorial describes two scenarios; firstly where the traditional search space has been exhausted in outcrop areas and secondly, where exploring under barren cover.

Ausmex, through the utilisation of magnetotellurics (AMT), is exploring within the Deep Search Space albeit its focus is upon identifying ore body targets nearer to surface. The exploration work is innovative: OZ Minerals and BHP have also been identified in working with magnetotellurics in the Gawler Craton.

It would appear to create two opportunities in relation to Burra:

Identification of new near surface copper mineralisation.
Discovery of large IOCG deposits which could be an analogue of Olympic Dam or also potentially hidden under barren cover in the Deep Search Space.

What will be its strategy going forward in relation to Burra? Its potentially a Big Picture requiring Big Players although near surface copper mineralisation would create a mining opportunity for a junior. The cream on the strawberries may be a lucrative joint venture where Big Budgets are required to drill into the deep search space.

In the meantime, its back to Cloncurry where we have a world class exploration team at Newcrest who appear somewhat interested in the tenement next door. We know that they like it deep down under so 1000-2000m is just fine.

TBA - Tombola Gold

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