Hi Jako,
In response to your earlier post and I point out I am no geo here, on first impressions of the release today I wasn't overly excited about the recent drilling in terms of percentages and yield outcomes (market on opening probabarly reflected this) but I could see the large meterage seems to be a positive in today's climate.
However further digestion on the second/third read I believe it the results are far more promising than actual the initial released results may indicate and market reaction.
And what team at Exco may have found here is again a very large low yielding resource (another E1+), given the current climate with commodity prices at all time highs it could be one out of the bag which is indeed may well indeed be a very viable proposition going forward.
I point out the indicators in the announcement that lead me to that conclusion regarding the best is yet to come. And more so what wasn't in the report (eg drilling the main target)
Eight Mile Creek
...but further significant magnetic anomalies require further drilling. Grades are similar to Exco's E1 camp of deposits and drill widths suggest significant tonnage potential.
Figure 4.. The image suggests the strongest parts of the magnetic anomalies in this immediate area are yet to be fully tested.
The exciting part in this story is yet to come eg -the further testing of the magnetic anomaly.
My favourite and I think the jewel in the crown to come For this emerging diamond is Salebury however who is gunna argue about another E1 or 2 or even 3!!!.
One thing is for sure there are some very exciting times ahead for punters.
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