This is the 2nd round of infill drilling (infill drilling is to confirm presence of mineralisation from the step-out drilling). Actually I can't recall the last time MRP conducted large scale step-out drilling program, but it is listed as further work. Infill drilling is consistent in what MRP is trying to achieve i.e a revised MRE around the March quarter.
But the game plan is to prove that Boorara is the 'elusive fat sister' to Mt Charlotte. As both Newmont and Barrick have both indicated in the past that they are both chasing this 'elusive fat sister'. And once they get only MRP share register - watch MRP sp soar.
Perhaps someone knowledgeable on the Mt Charlotte can advise... but I got impression that the grades were higher as they drilled into depth. If the DD (deep diamond hole) results show higher grade i.e. >2 g/t perhaps this might add weight that Boorara is similar to Mt Charlotte. But MRP geological model is based on Mt Charlotte, so getting mineralisation at depths below 400m would be very positive.
As stated in a previous post - Morninstar fair value of MRP is at 14 cents. If we get a revised MRE > 1moz we should see a significant re-evaluation of the fair value as the current MRE is around ~ 230Koz.
