Ann: Brumby Ridge Diamond Drilling Update, page-13

A rather binary outcome for the share price, these were very modest step-outs from the existing drill intercept from 23MERC028 and they hit almost nothing in the way of thickness or obvious visual mineralisation even though they would be only 3-5m away from the existing high grade intercept, they need to review all their collar location data and down-hole survey data from the original hole with the dips and azimuths and Magnetic readings to explain this peculiar situation as the recent hole 24MEDH001A was pretty much a redrill of the 23MERC028.

The most likely explanation is that 23MERC028 being an RC drill hole probably had wet samples and horrific grade smearing with a blocked sample splitter that exaggerated the apparent thickness of the intercept due to poor sample quality. The other problem is that with 23MERC28 being an RC drill hole is that the azimuth survey data is often non-existent or unreliable compared to down-hole survey data from diamond drilling in hole 24MEDH001A, look at the plan view trajectories of those two holes.

Now priced for total exploration failure.