Correct - we would all have hoped for better results and indeed it seems management are only just starting to get a hold of the mineralization - hence the comments: "The latest results have confirmed the continuity of the main high-grade zone, while recent drill core observations from diamond drilling have evolved the Company’s geological understanding of the Evermore prospect, highlighting the presence of a steeply east-dipping orientation to the high-grade zone. This has opened up a significant opportunity to delineate further high-grade mineralisation at depth by changing the orientation of the drilling. Several RC holes have recently been completed to test this interpretation, with assay results awaited."
In a perfect world we'd be off to the races by now - but the drill campaign isn't a duster - they are on the trail of something big, only it's turning out to be highly variable - much like many gold targets amongst the juniors.
We still have a bunch of results to come in and management are hinting that the diamond drill core contains something to report back on - with the potential for stacked mineralisation - something they have alluded to in the past. If the diamond cores disappoint then we probably won't get a hammering as we have fallen about 30% from our highs already. Note they are embarking on a further 20,000m A/C campaign in June so they are hardly abandoning the project - let's see if they can find the missing pieces to the puzzle.
GML Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
