exploration update, page-8

I agree with the sentiment that drilling was not succesful. Black shales are a major hazard with any Geophysics, and the size of the response i.e large, is usually a giveaway.

However I think the qtz vein is a significant find, given that it is outcropping and has some width. They can cheaply follow up by the geos doing ground recon. This is still a valid target to work up to a drilling stage.

Sure the grades are low, now. But the system is metal bearing, as opposed to barren. LSR would be remiss if they did not design a few holes into this system to at least see if higher grades could be intersected at depth or at structural targets (flexures, blowuouts etc).

Still hope left, but it is a small hope.