I did, and attempted to gain as much useful information as I could.
Firstly I discussed quite a bit about the RC drilling itself. It grinds the ground to a powder and graphite could be being lost instead of caught in the cyclone bag (Depending on the flake size, it can have different results given the surface area and weight of the fine particles). Also here was graphite visibly sitting on top of the water pumped away, it would end up on hands scooping the water. This may explain some of the losses, but perhaps a few percent, not enough to turn 1% into 10% grades.
Some checking was done in the lab end, but didnt came up with an explanation for the results. There may be other work done, but it sounded to me like it may just come to diamond drilling as opposed to some other way to explain the graphite loss in RC drilling. Ie: diamond drill and compare the difference.
The feeling I was left with is that RC drilling isn't the most exact way to determine the grade, only diamond drilling will give the real picture. (Made me wish that was what was done in the first place).
I confirmed that diamond drilling will be part of the current schedule, assays and completion of a JORC compliant resource, completed before there is a need for any further capital.
Visible results from holes currently RC drilled will not be released due to the disparity received so far with that and assays. Although it was mentioned that the holes are getting better results (visibily I suppose as assays are pending - this must be referring to current holes in central zone)
RC drilling will complete in a number of weeks, with assays about 4 weeks following that.. perhaps about end Nov to complete all RC drill/assays. Diamond drilling will come after.
It was also said these results are only the first 8 holes, the best prospects are yet to come. They were simply in the area making it worth drilling western first before heading up a valley to central and then on to east.
My thoughts: The results so far are only the tip of the iceberg. Disappointing, but the real hope is in Central and East. Perhaps the share price was quite inflated on rumour as opposed to actual real results, but certainly the holes that turned up nothing despite intersecting graphite would give anyone reason to raise concerns. At current prices, I think this is a hold for now..
KNL Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held
