Been thinking today about the ongoing drilling at Winjabbi East, which a number of holders are excited about due to the previous drilling results of IHAD8, a hole which only just grazed the other edge of the potential deposit...
On June 16th we had an announcement stating that they had finished drilling at Oak Dam and were going to move rig later in week to begin drilling at Winjabbi East (WE).
On June 21st there was an announcement stating that drilling had begun on WE with surprisingly 255m drilling already completed...
There was 5 days between announcements (inc a weekend).. So that 255 at max took 5 days... Most likely they were drilling for 3-4 as the rig movement would probably have taken a day.
It has been confirmed to me that the depth will be around 900m give or take a 100 or so...
Rough estimates, but assuming they can continue drilling at the same speed as the first 255m and taking the conservative max depth of 1000m then drilling could finish in 9- 15 drilling days from the 21st... i.e. not very long...
AXT Price at posting:
10.0¢ Sentiment: None Disclosure: Held
