Ann: Fosterville Update, page-11

Fair enough and respect the right to call it as you see it!

I agree with sancho here, and quite comfortable with the progress to date. My take on the announcement is positive overall, and it doesn’t read as a cover up for ‘bad news’. Personally, I appreciate the added level of detail and technical jargon compared to some other explorers, means you can verify if what is being said makes sense….or not.
Re the announcement, the key take home is the identification of the Blackadder fault plane from 4 wide-spaced pierce points. Decent grade but relatively narrow intervals associated with the same structure in holes >100m apart, shows they are onto a live mineralised structure and now its a case of testing that plane for better mineralisation.

Anyway, based on the reactions from the last few drilling announcements it seems like some people may have genuinely believed a new swan zone was due in the first few drill holes (guessing RonSwanson was just tongue-in-cheek). The odds of which...even in this neck of the woods are astronomically low!
Pays to keep in mind that the good parts of Fosterville were not ‘discovered’ after a few drill holes. It took 28 years of mining and associated exploration before the higher-grade Eagle and Swan zones were recognised!
Of course we know S2 doesn’t have that sort of luxury of time/money…but my point is that it would be foolish to expect a new swan from a few wide-spaced holes, especially when the company has said as much in trying to temper expectations!
But defining a mineralised fault structure that is basically untested within the first few drill holes is a success imo.
Sancho, re bringing in some deeper pockets, I was wondering the same. Just not sure it makes sense at this stage, especially while they have several other regional targets to test (i.e. the IP) on arguably more prospective structures.