Ann: Corvette Drilling and Metallurgy Update, page-33

@ChinaDragon

technical discovery in Geos world is a success as it shows the ground is fertile. However, technical discovery does not have to be economic discovery. Therefore, from investing point of view it has different meaning.
For me it means the ground is super prospective, but I need to be careful as being super prospective does not guarantee success.

the market is looking for economic discovery and if investors see falling grades from holes drilled right between and/or next to holes with decent grades then the market re-evaluates the risks. that's how the market works.

in regards to Myall being compared to Ridgeway is not the best comparesment as the systems are nothing alike. Ridgeway was one of the best hidden/sealed systems on the planet. As you can see from the photo GreenBull posted you will notice few holes being almost barren only ~100m from the core.
The history (if I remember right) is the RC hole that hit the 8m zone that turned out to show escape vein from the core which made them search further. And they wondered where the vein was coming from so kept drilling. Plus, they had money, though they were pressed on time. Only with 371 they saw some signs they may be near something. And 371 was really close to the core. The previous holes they drilled (see photo) did not return anything worth reporting. That almost made them give up.
Myall is completely different setting. Here we see wide spread mineralised zone all over the place. So when you are drilling in such zone and hitting around 0.5g/t AuEq and then holes start to produce less than half that, logic will dictate you are not getting closer to the honey.

Also, the implications of wide zones of lower grade could mean few things:
1. This is massive system and the best is yet to come - I hope.
2. The core is barren as it shed all its mineralisation into the surrounding rock - risk that needs to be taken in consideration. I think Myall will still produce a discovery, but we may have to wait bit longer.
Therefore, I saw this as trading opportunity to sell while ahead and at same time to reduce risk.
Adam is doing fine. He is drilling lot more than presenting. He won't be drilling if he doesn't think there is a chance for discovery. But in this business, there is no guarantee. The very next hole can change everything, or they may drill another 50 holes and still not progress any further than technical discovery - which is meaningless (from investors point of view) as it can't be mined at a profit but important from academic point of view. From investor's point of view the current discovery says the ground is very prospective - nothing less, nothing more.

all my own thoughts.