A lot of jr explore co's suffered from the recent "risk off" market event. Plus I suspect a major holder wanted to exit after the first round of drilling didn't result in a discovery.
Thing is, it's just that they weren't drilling deep enough. All the holes except one ended in mafic/ultramafic rock. All holes contained magmatic sulfides, so the conditions are right for their formation. The new geophysical survey will look much further down than the first airborne survey, and hopefully with the recalibration of the gravity survey results using actual density data from drill core they'll be able to more accurately target the basal boundary of the intrusive complex where the sulfides would be predicted to lie.
Reason I'm here is that I haven't come across a more accomplished geological team than this one, and I've looked at a LOT of explore cos.
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