potential over the next 3 months, page-6

The prior Announcement on 13th April 2011 reports a new rig as having arrived and already started drilling the 9-hole deep program at Rio Verde.
It is now one month later!

This latest announcement states only...Drill testing beneath the HGZ has commenced .

That is already known.

This new rig is supposed to be a superior type. So even if they went along at 20m /day that is only 15 days drilling IF they did the deepest 300m hole first... and it has been a month already!!

So Tony and the lads certainly DO know right now what is emerging from deep down at Rio Verde. Of course they do.

But like Serra Verde they are saying nothing. Not even the usual Significant or Encouraging description, or tantalising photos. Nothing. So is that Good or Bad.??

TP described to me the structure at RV as being something like a Mushroom with the chalcocite blanket on top, formed from the action of weather on the sulphide, and the stem being the source of the entire structure's primary sulphide ore from down below.

One would think that the HGZ has obligingly localised the general position of the STEM. The other aids in finding it are listed as :

1. mineralisation open at depth,
2. deep IP (induced polarisation) anomaly
3. EM (electromagnetic) anomaliy
4. leads generated from structural interpretation.

So with all that, the chances of a hit are high.

Management have always been extremely confident of finding the source ore, because they are very familiar with the geology of such structures.

I would suspect that the results of the entire 9-hole program will be released in one hit, rather than bits, because obviously they are VERY tight-lipped about it at present. Not a twitch or hint. That's fine because any results can then have a high market impact, and help kick the SP out of the doldrums. A smart tactic.

Low turnover, so lots of folk holding their cards, not folding. Good!