Ann: Downhole EM Surveys Light Up Strong Conductors, page-31

G'Day Corker,

I think we just have to have faith that SGQ and their technical experts know what they are doing here.
I've been researching up on when the penny finally dropped with SIR and surprise, surprise, it wasn't until that announcement on the 26 July 2012!
However, the clues and information were all there a year before. This announcement (25/10/11) was the 1st to report Ni,Cu in the RC holes.

STRONG NICKEL-COPPER-COBALT ENRICHMENT IN FIRST DRILLING AT THE EYE
Follow up diamond drill hole to start
Sirius Resources (ASX:SIR) advises that it has discovered a broad zone of nickel, copper and cobalt enrichment in the first ever drilling at the Eye prospect at its 70 per cent owned Fraser Range project in Western Australia.
Six reconnaissance reverse circulation (RC) holes were drilled to test a small part of a large geochemical anomaly (see Figure 1) and to decide the preferred location for a diamond drill hole to be co-funded by the Government of Western Australia as part of its exploration incentive scheme. Five out of the six holes intersected a thick horizontal blanket of nickel, copper and cobalt enrichment, as shown in Table 1 and Figure 2. Intersections include:
 16m @ 0.63% Ni and 0.17% Cu from 8m, including 4m @ 0.86% Ni, 0.33% Cu and 0.20% Co from 16m in SFRC0016.
 20m @ 0.57% Ni and 0.10% Cu from 8m, including 8m @ 0.72% Ni, 0.16% Cu and 0.13% Co from 16m in SFRC0015.
This zone of enrichment occurs beneath part of the 2km long nickel- copper soil anomaly previously defined by the Company and is open in all directions. If similar enrichment occurs beneath the remainder of the soil anomaly this zone could extend for a considerable distance.
The zone is a nickel-copper-cobalt laterite but it is not yet clear if this enrichment is related to the presence of sulphides in the basement rock or lateritic weathering of ultramafic rocks.
Drilling to date has only tested a very small part of the soil anomaly and further reconnaissance drilling will be required to scope out the extent of this zone, and any deeper source of the nickel and copper, which may be to the west of the current drilling.
A diamond drill rig is on site and the co-funded drill hole will commence in the near future with the primary aim of better characterising the nature of the rocks beneath this zone.

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At the time they were trading at 10c and they rocketed to 11c in the ensuing weeks, only to retrace to around 5c over the months leading to 26/07/12.
So what's my point you ask? Well, It doesn't seem to matter about the clues prior to the "DISCOVERY" announcement, all the market is going to reward is exactly that...a discovery announcement!!
I mean, 16m @ 0.63Ni and 20m @ 0.57Ni...and it was ignored...really???

Good luck all, HH