The drilling they have done will be enough to calculate a 'resource' for at least aspects of the deposit. But to build a 'viable' mine you really need to calculate a 'reserve' (eg; build more confidence that the gold is 'really' where you think it is). This requires tighter spaces between your drill holes along with a lot of other 'non drill' related work/calculations that will help you design the actual pit or under ground mining profile... etc. At present I don't see any reason for NXM to be drilling out a reserve (eg; that 'really' repetitive drilling), the company narrative is still all about maximizing the resource.
The new flows aren't done just yet...... as from that screen grab it looks like there are still maybe 14 or so Diamond Drill hole assays to come through.
NXM Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
