Time for a fresh thread.
Sat down and had a good look at the core photos from the website.
http://frontierresources.com.au/images/stories/ASX_Andewa_Drilling_Update_Core_Photos_2011_9_1_150_dpi.pdf
I'm not a geologist so this opinion is entirely amateur in nature and only from what has been released.
In looking at the images the photos on page 30 are to me the important piece of information. It compares previous drilling at section of Andewa called Komsen Prospect done by FNT a few years ago. To my untrained eye the new cores to me visually match the some type or rock. Hence why Peter put it in the images so enlighten us.
The previous drilling of this comparison sample hit grades of 10.97g/t @ 7.9m, 7.4g/t @10.8m as the best from that previous drill. This was drilling outside the anomaly detected in September last year.
Now talking that information and the look of the core images from 140m to 400m. The same style(visually) of core are represented pretty consistently. There the higher cores are a lighter grey colour than the sample from Komsen.
I assume this is what Peter meant when he said to me a few weeks ago (I posted the info here) that the cores are of the right geology. Since then he has been onsite and released a very positive report and pretty much stated assay are needed to confirm what he thinks (knows) he has found.
Lastly when I spoke to Peter at the start of the drilling, he was most excited about ADH003 not ADH001. But the onsite geologist wanted to start at what has become hole ADH001. So we haven't even seen what Peter was most eager to get out and only finished drilling on Wednesday. Peters track record before and with FNT, remember he did find a substantial copper deposit before the company was screwed by Rudd. He's know his stuff and wouldn't make such comments without justification as hes no fool or some corporate hack chasing a quick buck.
The terms of effects on the SP, I think we have gotten rid of the short term traders. Some will be looking to get back in after taking profits if they think we have bottomed out. Was 21.5c out bottom? Baring any world market issues, with assays pending at the end of the month as stated in the report.
"Core sampling, shipping, analysis, collation/ evaluation and reporting of hole ADH 001 will be completed in approximately 4 weeks. The upper section of hole ADH 002 has been shipped to the laboratory for analysis."
The future looks rosy...maybe even gold! lol...
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