I think you are missing the point that the drilling program is only to extend confidence in an already largely defined resource, there is nothing new here other than to fill in gaps from the previous drilling program and that is validated by the fact that they have done enough drilling to produce a 3D wireframe model as seen in the announcement. It is not to test extensions outside it (along strike/down dip etc.) and the company are quite clear on that:
"The 5 or 6 holes will target extensions to known mineralisation within the Ni-Cu wireframe"
and
"Hole ZA-19-03 (Figure 1) was drilled within the Ni-Cu wireframe, but obliquely to the previous holes to better understand the internal geology and structure of the deposit"
There may have been some upside factored in with further hits but the fact that there are now 150 million+ shares trapped at higher prices and some potential trust issues with the way they structured yesterdays announcement that it will likely negate any upside despite the paltry market cap of the company.
CML Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
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