Agree with you on those comments fmx_rider, without a cross section along section line MAD111 the results are pretty meaningless and raise more questions than they answer about true thickness and possible "directors specials", even if they probably haven't deliberately done this. As you say - the hole MAD126 was drilled vertical into a dipping plunging zone (because of the problems predicting and anticipating the hole deviation in hole MAD125 to test the target) so they are not seeing true width. Overstating the thickness of the sulphides was the first mistake, but the real mistake is the omission of a cross-section. Without a decent cross section punters have no idea of what other existing drill holes are up-dip and down dip on the cross section to put this high grade intercept in context. Is it just repeating the results from a small existing known pod of mineralization or is it opening up the possibility of a new sulphide channel/pod either up-dip or down-dip? Who knows without a cross section!
And furthermore they are testing down dip with the next drill hole MAD127 (presumably on the same section as its collared almost on top of MAD126 only 7m or so from the existing MAD126 collar) so almost so close as to be useless for geological interp or DHEM purposes, I mean I know the geowizzies love a connected EM conductor with two pierce points so they can model dip, strike and plunge, but thats almost ridiculously close in my opinion, and again, who knows without a cross section!
As you say - they had 2 days to get this announcement out and do the portable XRF and photography, and the rest of the text, but its nonsense to suggest that the geologists on site wouldn't have an up to date working cross section, because if they didn't have one, then they would be drilling blind and would have no idea if their drill holes were on-target to intercept the conductor targets or not! With a drill rig working on that section of course they would have a working cross section.... why not let us have a look at it? We understand it may not be pretty and have lots of scribbles on it, but it would put the reported intersection into some sort of context.
About the only thing that isn't a problem is the stonking grades that this will obviously have once they get the core cut and assayed. A horrible day to release good news but I think the market was possibly looking for more "thickness" in this announcement. Who knows, sometimes these things take a few days to sink in, and let people evaluate, but without a decent cross section they will have to construct their own drill-hole database and plot up their own sections to put this MAD126 intercept into perspective of how good it is.
SGQ Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
(20min delay)