I just want to make a special comment here regarding Mundalro which I estimate given its one hole 350 meters of RC and 150 Meters of Diamond tail all going well should net a visual result early next week. But remember this if this is what I think it is the whole area and the market will have no choice but to pay attention.
In chronological order:
1. Seven minerals with sizeable background readings at geochemical / samples on surface overlaying a large MLEM plate.
2. First drill holes contacted expected metavolcanics and required 2 holes to be extended another 100 meters. NOTHING that explained the EM response was found but petrology results proved the presence of Chalcocite overprinting Chalcopyrite this is very significant as it may mean this current drilling could contact a supergene oxide zone on top of the potential massive sulphide accumulation of that strong centre its bloody compelling.
3. In pursuit to find out what created the EM response the extra 100 meters was drilled getting us slightly closer the strongest section of the EM. The important confirmation was made that the response was made up of massive / semi-massive sulphides so that lowers significantly the risk we encounter anything like black shale or graphite as we move in on the high intensity EM centre. It also means by default that there are increased chances of it being copper bearing especially with the peripheral copper overprinting evidence.
4. Two days ago, further Lithological, Petrological and geophysical/mapping work further bolstered this and we clearly sit over a nice fault line that connects to the Gilmore fault.
Ask yourself this question what is more likely to be in the centre of a very large MLEM plate with all the right lithological / geophysical / petrological / geochemical traits along with the EM response being confirmed as sulphide related and direct evidence of two copper species, anomalous gold and elevated zinc levels on the periphery directly over a localised fault that feeds into the Gilmore fault zone? And this is all on the bloody periphery, now the drill is down dip going straight into the area of much higher intensity EM wise and we know it’s already sulphide related and there is copper, gold and zinc and the general consensus is that what is found in the periphery is the grade out effect of the EM centre where conductive response is at its highest therefore could correlate to much higher thickness and ore grade than of that found in the periphery which in this case is some distance away as it’s a large EM. The interpreted EM itself looks absolutely text book and has a nice well-structured IP halo around a concentrated and very intense conductive area in the centre.
(20min delay)