I, and you, and many others could take a guess but we are all effectively blind, including DRE (PXRF?) until assays come out.
@Nadsy11's post brought up [for me] the parable of the blind men and the elephant which has some analogy to the comment about whether my posts are 'saying [indications] is good or bad haha' Not PC today: people - villagers?? Investors...
The parable can apply on so many levels. I know enough to be circumspect with the excellent data flow provided by DRE (and some others). If assays are good then one outcome, mediocre or poor other reactions from the market where many blind and not so blind play around with deep pockets.
DRE have put out indicative time frames for assays and other results (e.g. @reversepsych
Putting this into a sequence of activities throughout 2022 gives this table.
Dates are approximate with announcements obviously post dating the end of drilling and/or receipt of assay results. Probably less than a week involved so accurate enough..
The completion of a program and when assays are received is determined by the priority given to the samples. The first holes at Yin were put to the head of the queue leaving a car park full of Illaara samples on hold. IF the drill sequence and subsequent sample batches are held to then expect results to come out along the lines of A to E with diamond results and mett taking much longer. As with phase 1 at Yin there is likely to be a gradual release as different batches go through the lab.
If PXRF results warrant they may have prioritised some/all of the C3 infill and perhaps sections of CD1 & 2 diamond holes. Low but probably not zero possibility.
=================================== Paraphrasing @georgik's question What will excite the market?
The most likely answer is C3 infill and, to a lesser extent, the 160m results for the other 5 REE-Phos-Nb-Ti targets.
The C3 REE-Phos target is the largest but the others have significant dimensions (~~300-500m x 100-250m in plan view). Quite enough to potentially add to tranche 2 and/or 3+.
The higher the grade and larger size with near surface geometry the better. How the market will react....
Sabre and Y8. Initial drilling shows an irregular N-S swarm of sub vertical ironstone to carbonatite dykes extending along approximately 1 Km of strike at Sabre. Downhole intersections max out at 21m (10-15? true thickness) but are generally much less than 10m true. These initial indications suggest intersections are probably wider than the HAS average but less than Yin. Surface rock chips are up to 40% TREO so there may be some good grade, at least locally. Sub vertical dips may increase the strip ratio at depth relative to say Yin or Bald Hill.
Only a few holes into Y8 and surrounding targets with initial indications that Y8 may be similar to Sabre though perhaps with narrower ironstones. [assays in Nov!!! so well overdue].
The late extensional RC drilling at Yin in 2022 will add confidence to the depth of the MRE but have little impact on the SP IMO unless thick high grade occurs in unexpected locations. Even with such not much probably. 2023 confirmation of continuity along trend to N and or S.... and up to 100 other ironstone targets....
Diamond drilling is slower than RC and the processing takes more time as well. The holes at Yin were drilled to confirm RC, provide Mett, SG, and structural data etc. In the absence of indications of the opposite the the DD probably confirmed the RC with a reasonable level of correlation.
CD1 at C4 showed a fair correlation of PXRF results with RC hole 10, but geology may need to be fine tuned.
================== Money geophysics. A strong conductor or two would be good. Need to be drilled with FQM money.
============================== Y-T auger phases 1 and 2. Phase 1 assays may be available soon - perhaps screened by PXRF results to keep cost down with EOH assays in areas of low potential. Phase 2 PXRF results will be available IMO if similar to Phase 1 which was reported promptly.
Local high grade surface rock chips along the Taraji trend and in the Chianti area so hope for some anomalies from the auger.
As with geophysics at Money follow up drilling is needed to show what lies at depth under any anomalies developed by these surveys.
================ Illaara Metzke's MRE and the perennial Fe potential stand out. Lithium - can't recall if assays given- but apparently a tough target from what DT intimated in November. ================
Six blind elephants were discussing what men were like. After arguing they decided to find one and determine what it was like by direct experience. The first blind elephant felt the man and declared, 'Men are flat.' After the other blind elephants felt the man, they agreed.
An elephant joke inverts the story in the following way, with the act of observation severely and fatally altering the subject of investigation:
Six blind elephants were discussing what men were like. After arguing they decided to find one and determine what it was like by direct experience. The first blind elephant felt the man and declared, 'Men are flat.' After the other blind elephants felt the man, they agreed.
Moral:We have to remember that what we observe is not nature in itself, but nature exposed to our method of questioning.— Werner Heisenberg[28]
DRE Price at posting:
9.8¢ Sentiment: Hold Disclosure: Held
(20min delay)