Can’t get too excited until the assay results are produced and released but VAN has in the past reluctantly given progress updates on drill programs. So, reading more thoroughly I am optimistically encouraged by these paragraphs:
First-pass drilling has completed at the priority Skyhawk (7 holes), Parrot (4 holes) and Apollo (3 holes) open pits, and drilling is currently underway at the Prickleys open pit.
Vango is highly encouraged by its initial assessment of the drilling to date, which has demonstrated the geological continuity of structures, including alteration and sulphides, consistent with previous results from these deposits.
At Skyhawk and Parrot in particular, drilling was extended in several holes. Previous drilling in these areas had concentrated heavily on the oxide material and the strong continuation of the structures in the current drilling with associated alteration is significant. Some of the prospective zones appear to be new structures, not previously been recognised, or significantly tested.
Extension in drilling IMO is usually only allowed if the mineralisation is continuous and visibly noteworthy. Therefore, if this open cut drilling is a success (i.e. if the grades are high at length and depth) will significantly catapult the JORC upgrade and reduce AISC remarkably. Live in hope!
