Check out the NR out of this bundle of promo pump joy this morning. Juggernaut Exploration (JUGR.v) starts in breathless style with its headline, “Juggernaut Drills New Gold Zone Grading 6.85 g/t Au Over 9.0 Metres on Midas“, makes sure we get what they want us to understand in paragraph one…
“VANCOUVER, British Columbia, Jan. 08, 2019 (GLOBE NEWSWIRE) — Juggernaut Exploration Ltd. (JUGR.V) (the “Company” or “Juggernaut”) is
pleased to report the discovery of a new high-grade gold zone on its
100 % controlled Midas property, where diamond drill hole MD-18-08
intersected 6.85 g/t Au over 9.0 m between 35.0 and 44.0 meters
…then they even give us a cute variation on the classic “Hey, we think we know where the feeder is!” line and for good measure, add a pretty graphic to the gig. But when we get to the stuff they are required to put into NRs, it gets funny. Your table:
Turns out that 6.85g/t of gold over 9m is one of the most blatant and BS-laden examples of grade smearing we’ve had for a while (for those just joining us, grade smearing is NOT a good thing, a tactic done deliberately by shady juniors to make uneconomic rock look mineable). So if we run that through the handy-dandy Corebox/EI drill hole calculator…
…oh dear. Turns out that 1m of nice stuff is surrounded by 8m of 0.156g/t gold rock and there’s a technical term for rock of this grade in the formal mining business: Waste. As for the term in the junior exploreco promotion business, there are several but I really do try to refrain from swearing on the blog these days.
When a junior exploreco runs grade smearing past you like this, the only good reason for doing so is their desire for you to fall for their bunkum. And when a junior does it to you once, you can bet dollars to donuts they’ll do it again and again. Juggernaut Exploration, throw it on the very large “One Less To Worry About” pile.
UPDATE: I stand corrected by mailpal M:
“We have a better name for that rock, as waste is only
when you do find a mine. It’s called “leaverite”: leave ‘er right there.”