Management currently have two diamond drilling rigs at Boyd's Dam so a spectacular drill hole assay is not out of the question at almost any time.
There are also results pending for 10+ DD holes, FEDD068-078, as of the end of the last QAR, and probably a couple more+ have been drilled since directly into the newly found sweet spots!
Also drilling is continuing with 3 diamond drilling rigs underground at Henty with the intention of expanding the resource. All you need to do their is to take a look at the spectacular results that they have been continually receiving to realise that this should be a very significant expansion and of a continuing high grade!
Soon management will begin exploration at surface along the fault lines of which on reality have never needed to be drilled/explored properly in the past because the Henty Mine has always produced the goods!
Recently Mr Kaye has pointed out in the video above the share price is currently being held down by an investor who is selling out. IMHO once this investor has disappeared, which shouldn't be too far away, then this stock will retrace back up to its old highs, especially with plenty of news pending including the SBM JV AC. Unfortunately most mining stocks get held back after a recent CR due to people changing their mind and selling out usually because they need the cash...
In reality, for me, this is the one stock that you hold forever or until it gets a takeover. It only has 98m shares and 80% are held by the Top 20. The grounds are simply spectacular.
At the moment drilling at Boyd's Dam is testing the geology/lay of the land to decipher where the larger lodes are in the ground. The most recent announcement points out that they seem to have discovered another high grade gold location so one would expect some good/great results to start being received over the year.
Patience has always been the key to CYL. I truly wish I had more cash to keep topping up at these prices as they wont last too long...
One would expect that by the end of the year the SP may well be upwards of $3. I wouldn't be surprised to see it even higher/results dependent!
Just remember patience is the key, Mr Bruce Kaye truly knows all about exploration and where to drill at 4Eagles. He was the former head of Normandy and Newmont Mining World Wide Exploration so he does seem to know a thing or two...The current gold envelope size is 6kmx2.5km and probably much larger based on the new discovery of Eagle5.
Another thing to remember is Catalysts all time high of $3.45 was when the POG was only around $1500US.
These guys are very careful and meticulous in their drilling and research. Do not expect results every day just expect good results and continuous expansion both along strike and at depth.
IMHO This baby will fly to the moon. It will take time. The discovery will be HUGE!
GLTAH+DYOR
P.s. Do some research on the results found at Pickles... It has a more complicated geology due to folding etc. but I wouldn't be too surprised if one day, once the geology is fully understood, it may well have some massive lodes deeper underground!
This story is only at the very beginning! Enjoy the ride!!!
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