Silverstrat said:
I don't think looking back over past patterns ,Whereisado, is worthwhile
You might be right and the new mob on board seem keen, just like the mob that have been waiting to see green again since 2013?
Ask yourself, what do we have here?
Everyone has got all up and excited about another new acquisition for BGS with very little ground work completed by the company, a relative cheap purchase price and rustic field map even for BGS standards. The tonnage used in the bulk sampling is very ample for the predictions, however as felsic rocks are low in density that amount could only be 5-10 meters cubed out of the 700m strike and including up to 55m wide zones. From the map, it looks as if there was three sample sites along this strike, in the thickest part, and obviously the most highly concentrated observable spodumene compared to the outer reaches. As stated in (
https://www.orobel.biz/info/afrique/orobel/rapport-dngm-service-mines-bamako-mali.html) the sample sites recorded 20-30% spodumene, perhaps there would have been bulk sampling at those outskirts as well, had it contained similar concentration of spodumene (one would think?).
In the initial, and following investors presentation the company announced:
* The potential quantity and grade of this "Target" is conceptual in nature, and there has been insufficient exploration drilling to estimate a Mineral Resource.
* The initial Exploration Target at Goulamina is estimated in the range of 15Mt to 18Mt at grades between 1.8% and 2.2% Li20.
* No drilling has been undertaken on the Project area.
So essentially this is still a "conceptual target" figure from a study in 2008 by some regarded company and the WB something or rather.
And, from the initial announcement
* However there appears to have been no systematic reconnaissance exploration or drilling targeting lithium pegmatites within the Project area.
Whereisado says: However! from the web link above, an article from Dec 2015, which someone from Hotcopper translated from french states:
*On the basis of the chemical data obtained, which confirmed the results of the geological- mine evaluation on the ground,
and the consequent identification of the most interesting pegmatitic bodies, sampling and geological mapping of the two most significant pegmatitic bodies of Goulamina and Blakala, located respectively 80 km to the west and 90 km to the ESE of the town of Bougouni. All the samples for the industrial analyses were sent to Europe.
So there wasn't a global interest in Lithium in Dec 2015? with a party to accept a $240,000 worth of value on this ground?
*Plus the usual statements, close to infrastructure and services, potential potential potential.
As for patterns, I didn't look that far back or in-depth, but as for Dankassa, which no significant work has been approached for sometime, then Massigui, which has been waning for sometime. Both were new acquisitions that came up a little short after the initial drill results, then KJ went to the Auger study and a fair few holders post early 2013 had no idea what that was even accomplishing. This all took time and the gains made and cost basis of holders started to look ugly, until then next lot of drilling was announced, and the price rose on excitement and depleted on results, repeatedly over 3 years.
I'm not selling, and I only go on rants (not one of my best efforts) to keep my mind in the game, but all I was trying to say was have a strategy, and don't dig a hole, because excitement gets dug quicker than holes.
From what I can see in a lot of words, but not that many figures and tables, the central thickest area of the pegmatite at has great potential, a nice linear structure to target, not too deep at 200ms. Hope this goes they way we want it.
