Firstly, it's great to get Assays back less than 6weeks after announcing the drill program commencing, well done Top Drill and the Geo team for that quick turn around.
These are also great first up infill results for Gem, and will see an uptick in the next MRE release in H1 next year.
I've highlighted the zone (red circle) where today's infill results were on "Gem". And the green circle is roughly where the remaining southern zone 'Gem' infill holes are planned to be drilled. As per their update I count around another 25-30 assays pending for this area of Gem infill drilling (which I figure adds up to around 6000mtrs-7500mtrs in total - of the 15,000mtrs of the total program).
With their activity of works to acquire Forrestania from IGO well underway any positive drill results results (like today's) only making the case for a positive FID outcome case stronger... and along with it providing interest from the broader market (eg; more buyers) followed by more optionality for various methods of funding to bring the Kundip Mining centre back to life.
As per their original proposed drill area map they have 2 'green field' zones that are also being drilled. If they get some decent results out of either of these zones the SP will get a lot more interest. On the info they've released to date it looks like about half the program is dedicated to the infill drilling around 'Gem' area.... so we could see maybe 20-30 holes pumped into the Harbour View/Flag & Flanders zone, enough to know if there is anything down there that is worth more time.
MM8 Price at posting:
9.4¢ Sentiment: Buy Disclosure: Held
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