AXG - Antipodes Gold [formerly GEL - Glass Earth]

[elZorro]

Thanks Mate,

I had written this investment off ages ago, the third party will pretty much own the whole company.

Yes, someone is going to have to be very brave or deep pocketed, that's for sure.

Since Newmont have given the locals a bit of a heads up with the drilling program in a general way, I have taken a wild guess at what the drill 908SP50703 is all about. It may have been collared from underground workings at Trio mine, right on the outer edge of the Waihi West permit. It could be about 360 meters underground at the start point, and went 300 metres or so into the Waihi West permit, horizontally. At that point it intercepted a 10 mtr wide quartz vein, vertical perhaps. That sort of a structure is similar to Correnso, it laid dormant and undiscovered for a long time.

Or the drill might have been collared from the West wall of the Martha pit, in which case I'm wildly off beam.

However, the colourful and plain English "Current Exploration Activity" one-page document of March 12 2015 mentions in three different panels:

...vertical vein systems prevalent in this area. Drilling from underground means we can drill shorter holes at right angles to the vein systems to intercept them...(fishing analogy) The nibble doesn't mean that you will get anything, or you may get an undersized fish that you have to throw back. In any case, you don't shout out that you got a bite, you wait until you have landed a decent fish..
(Gardening analogy) It took forty exploration drill holes to "find all the potatoes"and confirm the extent and grade of the main section of the Correnso ore body.

Newmont probably has Boart Longyear contractors doing the drilling. They appear to be looking in four different directions around the Martha Pit, two of them heading into the Waihi West permit.