This time last year LEG through out high grade assays from diamond drilling from underground development. Six months later they shut the plant down.
The current drilling is not diamond drilling, but deep RC.
Results so far are impossible to plot (nothing in sectional format-just all over the place), and are of very mixed grades-simply reflecting the poddy/shoot type occurrences as witnessed from historic operations.
Narrow high grade widths mixed in with narrow low grade hits.
The MD is still the same (OK, who said 'unfortunately'?LOL), Big Dermot would now have some input into the geological interpretation (a solid rather than inspiring RIO geo in his days who got a lot more 'entrepreneurial' when he joined the Gutnick camp a few years ago,prior to joining up with Creasy) and that should provide some comfort.
The target is on the original LEG ground, not Creasy ground acquired a few months ago.
The MD has a 'target' figure of 1m ozs-lots and lots and lots of drilling required to achieve this level (and yes diamond drilling ). Will the shoots hang together for a successful underground operation-remember he is talking down to 400 metres? Jury will have to sit on this one for many many months!!! (Based on last year's efforts and the abysmal lack of geological interpretation
subsequently provided to the market by the MD good luck).
Will the stock go up with more announcements-probably, Creasy has a minor cult following and 'selective' grades should be OK.
Will I be on the bandwagon-not with this MD and not until results can be plotted to my satisfaction.
I now feel better.
Hope everyone makes heaps-just another opportunity cost for me, not the first one nor will it be the last one.
Cheers,TAS
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