Well I did a little research on the property. Really not much from the website. The link to the OGS report and contained maps are basically what was confirmed today in the excerpts. The trends and geology are the same as what is shown in the geology maps in the OGS report. The only difference is the description of the euhedral pyrite crystals. Euhedral is a descriptive term for crystal form, in this case, euhedral means excellent crystal shapes, which would be cubic. The other end of the spectrum would be anhedral, where the crystals have no developed crystals faces and between the two is subhedral. Basically it tells you that the crystals had space to form and in a diabase that should be the case. The pyrite does not indicate that Au would be present, as pyrite is an iron sulfide. A diabase is a fine-grained, intrusive rock that probably fed the mafic (basalt) flows described in the area.
Vein systems typically enriched rarer minerals (elements), such as Au and that could be the focus here. Diabase is not the most common Au-host, but it does host a significant Au area in Australia. As the excerpt states, the diabase identified more proximal to the shear zone is probably of more interest. The shear zone is a pathway for fluids, either hydrothermal or magmatic, both of which could provide the mechanism to enrich Au. From what I read the shear zone is the key. Veins that stem from it might be a good location to search for mineralization.
As it stands, the best thing CNEX has going for it is that it has property near a former mine that had high grade ore. Beyond that they have not identified any other targets. It is early in the game for them and they could find something or they may not. At present there is not enough information available to make an educated decision.
If you have some specific question regarding the terminology used in the report or in my brief summary please let me know. Otherwise I wish all the current and future investors here the best of luck.
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