Sirius discovered Nova in late July 2012 (4m @ 3.8% nickel and 1.42% copper). Their sp exploded x15 and they quickly raised 7m in funds which enabled them to mobilise 7DD rigs.
With 7 rigs on the go they quickly came to grips with the geology and had real newsflow for investors. They continued to drill through the summer on a nominal a 25- × 30-m grid (242 diamond core holes totaling 85,716 m) and announced an initial resource for Nova in March 2013.
There are risks drilling through the summer (fire, rain/access) but it can be done if the will is there.
Based on Fox's Diggers presentation they will stop drilling in early December, but let's hope they hit massive sulfides down dip towards the east of their discovery and continue to drill through the summer with multiple rigs.
LEG Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
