re: Ann: Drilling Identifies Surface Targets ... Think there is a lot more in this drilling announcement than what is immediately apparent.
The key to what is being said lies in the geological speak in the announcement, as those with some knowledge of the area have probably have picked up.
If you have a look at old geological survey information pertinent to the area you can see that the mineralisation of the old Prices and Bayleys workings in layman’s terms reflects two different structures.
Focus in their announcement, have indicated that the mineralisation trend they have identified in this current drilling program is the same as that found in the old Bayleys mine.
If they have actually identified what amounts to potential extensions of the same ore bodies that were found in the old Bayleys mine, then drilling to 54 metres is not going to reveal them.
What we are seeing with this discovery is what has become the typical Focus development scenario of drilling shallow to start with, followed by a lot of geological interpretation before they start to get serious.
A quick look at the mining lease history of the area is also probably indicative of why this mineralisation trend was not picked up years ago – Focus has been the only company that has been able to consolidate all the leases to make such exploration a viable proposition.
While it is far too early to get terribly excited about the discovery, a bit of a warm glow is being felt by myself.
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