If you have a look at the table at the bottom of the ann that nobody ever reads, under the section "Relationship between mineralisation widths and intercept lengths" it says "• Orientation of drilling vs dip of DOF horizon likely means that the downhole length reported for angled holes (-55 degrees) approximates true width. Holes drilled straight (-90 degrees) would overestimate true thickness. All holes in this resource definition phase of drilling are angled at -55 degrees. • More accurate determination of the orientations and thickness of mineralisation will be possible with further drilling and geological modelling."
So hopefully that clears that one up.
For me this is ann doesn't have much unexpected but it does tick more boxes: Consistent grades, consistent widths and extensions to serious depth all confirmed so far.
The other metals coming up are a nice little addition, nothing too important in isolation but if they were just going to be overburden and there are more of the same elsewhere on the tenements it could prove relevant in the long run.
Assuming the second batch of assays come back as expected it looks like this time next month we should have a JORC for enough metal to theoretically open a mine. The really big question for me is the further exploration potential, the EM surveys, the rest of this DOF, the northern DOF which is basically untouched, even potentially in the longer term the fact that the tenements are pretty prospective for other minerals.
It's dangerous to fall in love with any stock but I really struggle to pick a better exploration play on the ASX, great management, fantastic progress in the 10 months since the first drill broke ground and the potential for a true monster resource.
The sellers will sell, the buyers will buy and the holders will hold, if CLA keep coming up with the goods the market will correct itself eventually, it always does, eventually.
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