Drill for equity, with Top Drill.
Top Drill were the driller that discovered DEG's Hemi, not that long ago, and it was drill for equity too I'm pretty sure (I've asked this already and if anyone can confirm that was on DEG, would be good?) - that discovery took DEG from 4c to $1.58, within 8 months (40-bagger).
A lot of discovery/confirmation drilling coming up for DRE, which has already started and will keep going, over 2 projects and a minimum of 5,440m, at:
- Tarraji-Yampi: 6 targets, including extending current Orion discovery, Orion repeat, Orion splay, Orion extension
- Mangaroon, Niobium-REE targets: including extending previous high-grade Niobium-REE hits/areas, and targeting new "finger-printed" areas from their knowledge/work done to date
- Mangaroon, VMS (Cu-Zn-Ag-Au) targets at Tiger: newly identified target(s)/field, mapping and sampling to date showing a large mineralised system
- Mangaroon, Gold: putting holes into 3 historical high-grade gold mines, so hopefully some nice high-grade gold hits from these
So:
- 5,440m of drilling
- over 40-43 holes
- over many targets
- all targets drilled one after the other
- all targets with a lot of time/pre-drill work put into them to give them the best chance of success
- targets are either:
--- extending current discoveries
--- confirming/proving up historical mines
--- drilling newly identified targets with unknown potential
I can see why the drillers agreed to get paid in shares.
As Dean always says, "there's no guarantees in exploration" - but these are pretty good targets with pretty good chance of success - see what the drill bit says shortly (we only need 1-2 to come good).
Looking forward to any drilling updates and/or drilling results to start flowing.
Cheers,
GB.
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