Another thing I find disturbing is the secret squirrel's game ASX explorers insist on playing. When it suits them (ie want to give the price a nudge up) they will release handheld pXRF results or mention historic resulst that may not be JORC complaint but add colour and real upside to a project. When it doesn;t, (ie happy for insiders to run the price up in expectation or make new drilling look like a 'discovery') they keep it quiet.
I tagged hole LRC187 from the get-go as an historic hole with 'unreported wet samples' that SHN were dead keen to twin drill. So keen they came back with a diamond rig when LTRC001 was also too wet, and ended up with 3 holes separated by about 30m in plan. Now that two out of three LRC187 holes have disappointed it's now tactically the right time to mention that although unreliably wet, LRC187 returned 11m @ 97.9 g/t au
... no wonder they targeted this patch firts up and desperately!!!
Why wasn;t that information good enough to release earlier, when the programme begun? For that matter, why wasn;t it good enough to release the wet samples for LTRC001 when they released the 6m @ 58g/t for LTRC002? LTRC001 returned NSI Au over the critical 70-90m depth interval... and wet samples cannot concentrate or contaminate Au that isn;t there right! Some would have liked to know that information before they chased the stock to 3.9c on the excitement I'm guessing...
And what about my call that LTRC002 6m @ 58g/t looked like supergene from secondary weathering down fractured faults below SHN's reported "transitional to fresh rock boundary". I got poo-pooed on HC of course, but the vuggy core at 105m depth in LTRD001 proved my point I thought. Now it suits SHN to try and spin this straw into gold, they are all for my secondary weathering depletion cum supergene theory
. Of course they are, just not when investors needed the information ealrier...
Don;t need to be a geo to understand if the gold is weathered away in one location, it has to have moved somewhere. Sometimes it moves a long, long away and doesn't concentrate, but a lot of the time the gold moves down, sideways a bit and drops out at changes in the weathering profile where the water table and/or changes in pH or redox conditions cause the gold to un-dissolve. When it suits management, there is no depletion and supergene effect, when it doesn't suit them suddenly it's obvious.
My point again is DYOR comparing data and the geology against management's commentary, because management are always looking to run the share price and the next CR. If someone with more technical knowledge wants to add an opinion, distrust and verify in case... they may be wrong but they may be right and following well laid out logic doesn;t require a degree, just an open mind.
GLTAH
(20min delay)