HGO 7.55% 4.9¢ hillgrove resources limited

a gold elephant's tail

  1. 3,666 Posts.
    We know that HGO's initial exploration results are due any time from Bird's Head in West Papua, so I thought I would go back and review some of the historical results from the area.

    ALPHA PROSPECT (trenching samples):

    Anomaly A18 - A 1200 x 400m gold and base metal anomaly, with peak results of:

    - 14m @ 14.61g/t gold
    - 6m @ 20.77g/t gold.

    Anomaly A17 and A19 - A 1300 x 300m gold and base metal anomaly, with peak results including:

    - 40m @ 8.69g/t gold
    - 8m @ 70.95g/t gold
    - 8m @ 54.5g/t gold

    Anomaly B15 - A 1200 x 200m gold and base metal anomaly, with peak results including:

    - 8m @ 5.81g/t gold
    - 8m @ 5.18g/t gold

    DELTA PROSPECT (trenching samples):

    "A 6 x 1.5km corridor of gold and base metal mineralisation defined by soil sampling, rock chip sampling and trench sampling."

    - 50m @ 4.51g/t gold and 1.09% copper,
    - 10m @ 13.6g/t gold and 2.4% copper

    This is just a sample of some of the more significant historical results. Multiple large high-grade anomalies of 1km+ in length, within a number of major prospects (the best being Alpha and Delta, but there are others). And with limited historical drilling.

    It is little wonder HGO is throwing A$10m worth of exploration in Indonesia. And the above results are just from West Papua. There are also the separate shallow high-grade epithermal gold results from the Island of Sumba.

    IMO, the recent price rise may be as much to do with the expectation of the imminent West Papua results as the announcement of the Kanmantoo JV.

    It shapes up as being a fantastic 2010 for HGO - cashed-up, aggressive exploration in Indonesia and Australia, and largely funded by an incoming partner to move from a developer to a copper/gold producer in Sth Aust.

    Best wishes all for the new year. I can't wait!

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