Deeper drilling could be game changer for Avalon
Published 22-SEP-2016 16:29 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
On Thursday morning, Avalon Minerals (ASX: AVI) released assay results from the first drillhole at its Satulinmaki gold project located in southern Finland.
This is one of two prospects in southern Finland being investigated by the company with follow-up drilling being undertaken following the delineation of high-grade near surface intersections, particularly at Satulinmaki.
Results from recent assays indicated shallow gold from the first diamond drill hole at Satulinmaki with individual assays up to 15 grams per tonne over a 1 metre sampling interval.
While broader sampling intervals demonstrated lower grades it is management’s expectation that the deposit will yield robust grades at depth. On this note, a total of six holes have now been completed at the prospect and encouragingly, all have intersected altered and structurally complex zones coincident with the interpreted positions of gold lodes from historical drilling results.
A total of six drill holes have been completed, testing several interpreted north-east trending sub-parallel gold bearing vein systems along a strike length of 250 metres and a vertical extent of 150 metres. Importantly, the vein systems are open at depth and along strike.
In highlighting the prospect of potential success from deeper drilling, AVI’s Managing Director, Malcolm Norris said, “Based on other gold deposits within the regional schist belt such as Jokisivu (62 kilometres north-west) and Orivesi (107 kilometres north-east), these have sub-vertical geometries and extend to depths of between 300 metres and 1200 metres below surface respectively, suggesting significant upside potential at Satulinmaki.
The two mines referred to by Norris are operated by Dragon Mining (ASX: DRA), a group with multiple Scandinavian projects that has experienced significant share price accretion over the last 12 months, partly due to exploration success.
The following demonstrates the characteristics of Dragon’s Jokisivu mine referred to by Norris.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
