AGS 1.09% 9.3¢ alliance resources limited

Hey dsm0 i think mostly the holes were drilled in similar...

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    Hey dsm0 i think mostly the holes were drilled in similar positions (close too) existing holes which were also good by the way. But whilst the announcement looks impressive it pretty much reaffirms what is already know with these holes. The holes were designed to obtain a better understating (larger cores HQ DD etc) of the geology and metallurgical testing etc. So unfortunately whilst they are good they do not really extend or improve greatly the current position certainly in regards to increased OZ's or any new lodes/shoots. But this quote below is from this announcement is promising:

    "In addition, 38 RC holes were completed for 5,740 metres during May 2019. The assay results from this program are awaited.A further 106 RC holes for 15,740 metres have been completed at Weednanna since estimation of the 2018 MRE. Ongoing RC drilling programs are planned to continue to grow the size of the Weednanna Gold Deposit, with the next phase of drilling expected to commence during July 2019."

    It would be good to get now an idea of where/position these holes were drilled (why not???) and any feed back on drill campaign, were all holes to target depth? geological logging info observed etc? when assays are expected? The average depth of RC holes was 151m (based on 5,740m divided by 38 holes) but was there some significantly deeper holes than others etc? This information can and should be provided now with assay results to follow not just when assays are returned. Just state what has happened what has been observed and give shareholders an understanding of where their funds from cap raise has gone!!!! AGS doesn't tend to do this! They are saying that most lodes (shoots) are open in at least one direction so if that is genuinely the case then I would like to know if some holes were drilled muchdeeper based on all the geological data they have gained.

    So most likely we won't get this information until assays are received but it is looking very promising with previous announcement 2 April 2019 stating as follows:

    Significant gold (Au) results from RC drilling at Weednanna Deposit outside of Maiden Mineral Resource area, include:
    • 2m @ 46.8 g/t Au from 101m (incl. 1m @ 82.0 g/t Au ….from 102m)
    • 10m @ 7.7 g/t Au from 117m (incl. 7m @ 10.0 g/t Au ....from 118m)
    • 16m @ 3.7 g/t Au from 134m (incl. 10m @ 4.3 g/t Au ....from 134m)
    • 2m @ 19.9 g/t Au from 77m
    • 7m @ 4.5 g/t Au from 90m
    • 12m @ 2.5 g/t Au from 108m (incl. 8m @ 3.0 g/t Au ….from 108m)
    • 3m @ 9.7 g/t Au from 54m
    • 3m @ 7.3 g/t Au from 97m
    • 3m @ 6.9 g/t Au from 106m
    • 1m @ 19.0 g/t Au from 77m
    Significant potential remains in footwall contact for further discoveries

    So overall this deposit is looking pretty good with a genuine chance for significant OZ increase and still with what looks like high grades. If the pending 38 holes comeback with significant grades and widths extensions and hopefully new shoots/lodes then along with the total 15,740m drilled since 2018 MRE then hopefully that equates to a lot more OZ's. Also more drilling stated to commence in July!!! Would be hard not to imagine the share price finding another level or two!

    Hopefully AGS can provide some clarity on expected time frame on these RC assays to be returned, if they are going to direct funds at the moment to other areas surrounding main deposit and the Graphite discovery!!!! But wouldn't it be great if they direct basically all their time, resources and cash to proving up say 300k+ @ 5 g/t at this main deposit and moving to production asap. Then from there move into wider exploration and growth. Not many can achieve this but AGS has every chance of a real and genuine outcome!

    NB: Can you believe TYX sold their Weednanna share along with a camp for $1.5m !!!!!! Daylight robbery!!!




 
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