"We are pleased with the directional establishment of Hole #1 and have moved into high gear with two shifts per day for the remainder of the hole as of Tuesday 13 January 2015. We are targeting approximately 50 metres per business day for at least the early stages of this hole, which should allow intersection of the first zone of interest to commence next week. "Once Hole #1 has transitioned through the Ordovician metasediment basement rock of the western basin margin, we could expect to intersect the first zone of interest of the Hill End Trough sequence around the half way mark of this 500 metre hole, comprising felsic volcanics and volcaniclastics in which Magnetometric Resistivity (MMR) anomaly #1 was detected. "We are expecting Hole #1 to be completed during January, with assays to commence once mineralisation has been intersected".
Looks like hole No 1 could be a duster as I am sure ARD would have reported visible mineralization without waiting for assays. However, as John says, we have a second bite at the cookie.
Not investment advice
ARD Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
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