High Grade Metals defines target for Schellgaden gold project
Published 23-MAY-2018 11:44 A.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
High Grade Metals Ltd (ASX:HGM) has delivered an initial exploration target for its flagship Schellgaden Gold Project in Austria. The target is supported by underground mine sampling and surveying, historic drilling, and detailed geological modelling.
With this development, HGM is now planning a comprehensive drilling program to test it, commencing Q2 CY18 — a plan that supports the company’s overarching goal to explore for a commercial gold deposit at the project.
HGM noted that the potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to estimate a Mineral Resource.
The below table provides the details of the exploration target at Schellgaden:
Schellgaden Exploration Target dated 23 May 2018.
Regarding today’s news, High Grade Metals Managing Director & CEO Torey Marshall commented: “The Exploration Target for Schellgaden supports our view that the project represents a high-quality opportunity to explore for gold within Europe. We expect to commence a drilling program in the current quarter.”
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
The Schellgaden North and South Exploration Area
Geological modelling showing 3D projections of target zones and planned and historic drill holes at Schellgaden.
Program to test exploration target
The aim of HGM’s upcoming exploration program will be to test the Exploration Target outlined above via a drilling program. The first pass drill holes are planned to be spaced irregularly and will aim to confirm the continuity of the mineralised horizons outside of the historically mined area.
HGM plans to commence the program in the June quarter of 2018, and complete it during the September quarter. The current proposed locations are subject to confirmation from regulatory bodies and landholder access agreements and as such are regarded as subject to change.
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.
