Quite a detailed announcement of what was drilled where and why and what wasn't yet so full credit to the company for good disclosure.
Only holes MFRC002 (Clarries) and MFRC007 (Maiden Creek) had appreciable chalcopyrite mineralisation, no assay results yet, but they had a pXRF for selecting samples to send to the lab, hopefully, there might be a nice surprise on the upside if the logged sulfide % are conservative and will be interested to see if any Au grades with any chalcopyrite.
I was really surprised that the Trekelano South drill holes didn't come up with much, I thought they would be the best chance. However, the problem encountered with drilling holes MFRC005 & 006 with collar blow-outs and significant water and abandonment at only 50m depth has got me thinking that they were maybe abandoned in Cambrian limestone cover, which is a PITA and always full of water, stopping even this decent-sized AED Schramm drill rig. If it wasn't Cambrian cover, and is a Proterozoic basement dirty big fault then worth remembering that at the Main Trekelano workings (not the mined Inheritance deposit) there was a massive fault on the hanging wall of the orebody full of water that also stopped most drill rigs so difficult drilling can sometimes be a clue that you might be close to something.
At Clarries interesting that they drilled near the old Delta Exploration drill area and got lots of sulfides (typical for the Clarries area) so hopefully some Au grades to keep them interested.
At Maiden Creek hole MFRC007 looks to have tested the IP anomaly at depth and got some sulphides so telling them that maybe IP targets are not a waste of time? The shallow parts of hole 7 with the Quartz Carbonate veining look interesting to me but no red rock alteration. The PVC casing for downhole EM so might explain a few things when the downhole EM is done in hole 7. Given the other results the temptation might be to put the IP in the garbage can as a targeting method so I hope they don't do this too prematurely.
Overall - a bit of a mixed/downer of an announcement without any assay results yet, some drilling problems, and incomplete holes yet to drill, I will hold onto the small amount I have here for at least the assays and the two incomplete drill holes, maybe seeing as they aren't drilling at the moment, they might chuck an extra hole or two, maybe one up-dip from hole MFRC002, and a modest step back and drill a hole under/down-dip from MFRC007 if the assays from holes 2 and 7 are in any way decent? Hole 8 still looks like its a viable target to me, so good to hear they will drill that.
C29 Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
