44m at 4.6gpt. Thick and high grade. These are things my missus wouldn't describe me as.

Z126 assays out with the headline hole coming in at 44m at 4.6gpt, which is along strike to the initial discovery hole of the third lense. Strike extent is good so true measure will be depth extension. Not jsut here but at lesnes 1 and two as well which part of ongoing drilling as per below:

Also to now the plan view highlights the mapping for potential repeat lense that may exist down plunge along the structure.

Blue sky remains open across the project with results continuing to deliver with the new ownership showing how their rethinking of the geology of the project is unlocking value and creating multi million ounce potential.

Impressed a bit with the BNZ raise. Last close was $0.985, up ~60% in 2wks and is a 52wk and 4yr high. Raised $30m at par to last close. A lot of gold to be found and $40m in cash will go a long way in showing that.

My focus on potential was and is still skewed to the high grade structures to the northeast (i.e. Z126) but these hits at Icon/Apollo are very intriguing. If the Tuxedo lense extends at depth holding the same grade profile and this third lense ends up anything like Tuxedo and Icon, then this will be a big ol' open pit.

From a grade perspective, grades of +/-1gpt will work if the pit is continuous and depends how the halo ends up (i.e. internal strip risk). One thing to highlight and this is a function of chatting economics with the company is that a mining operation would be mining this bulk area and the high grade to create a blended ore for a mill.

Either way, a LOT more drilling will be required to test the red circles (my highlights) in the image above for which BNZ has the funding to do.

BNZ reported further drilling results with the discovery of a third lense at Zone 126. Early days but between lense 2 and now 3, BNZ has not only proven the geo model for this project, it shows they have a handle of proving it on the ground through drilling. Don't hold me to it but they have likely tripled the resource at this deposit (previously ~85Koz) with the drilling to date. Drilling will continue as part of the 30km program which will fill out lenses 2&3, depth testing at 1&2 as well as continue testing along the structure for further repeating lenses. Disclosure got a little better with the long section complimented by aerial and cross sections.

Like ORD, BNZ is taking an approach to exploration in which they demonstrate where they will drill such that investors can get a sense of what could come from successful drilling.

Below is from today's release on the southern end with the '+' symbols marking pierce points.

Below is from a prior release on drilling at the norther zones.

30km of drilling that is funded gives scope for some serious resource expansion at Glenburg whilst a reasonable EV of $55m means that if the assays come back showing resource expansion is coming, it can re-rate materially.

I like this one as I think there is a reasonable case that some time next year we can be talking about it being 1-2moz with further upside and how large a plant may be. The current EV and ounces also limits the downside. As such, I see this as an attractive asymmetric bet on an explorer, something I have found a lot of lately.