For previous commentary on Pickle Lake announcements see posts #33882606 and #34095561. For previous commentary on Seymour Lake announcements see post #32729074. Very consistent sentiment I think.
On re-reading the Seymour Lake announcements, I note the following:
From the 23 July 18 ADV announcement…..
“Earlier in the year, Ardiden completed 13 diamond drill-holes (Figure 2), of which the results for 7 holes have been reported (please refer to announcement dated 27/04/2018 for further information), with results for holes SA-18- 11 to SA-18-16 recently received by the Company.”
From the 27 April 18 announcement…..
“Ardiden has received the assay results for the first seven diamond drill holes in the exploration expansion drilling program. Assay results from diamond drill holes SA-18-01, SA-18-02, SA-18-07 and SA-18-08 have been reported (refer Tables 1 and 2).”
and…..
“The Company has received assay results from the first seven diamond drill holes in this phase of the exploration expansion drilling program. Assay results for the 4 diamond drill holes are reported in this announcement, including SA-18-01, SA-18-02, SA-18-07 and SA-18-08, and any assays below a cut-off grade of 0.5% Li2O and have not been specifically reported in this announcement.”
So, where are the results from holes SA-18-05, SA-18-09 and SA-18-10? I cannot find any announcement that discusses the results from these three holes, so I can only assume the results were not good and have been binned. Perhaps they fall into the category of being “below a cut-off grade of 0.5% and have not been specifically reported in this announcement”. It’s not clear.
So out of 13 holes drilled, all except SA-18-07 are ‘barren’ for all intents and purposes, certainly not economic. As I stated previously, hole SA-18-07 has a reasonable intercept width but is low grade.
Perhaps you and I use different yardsticks to define reasonable drill results mmstevenson. My yardsticks are carved from peer drill results and using this basis of comparison, ADV’s results are not very good.
ADV Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
(20min delay)