I actually think the drilling speed and approach is fine - we're...

I actually think the drilling speed and approach is fine - we're a small company with a good bank balance and we had a sniff of a potentially exciting copper body underground.

An 800m diamond hole could cost us nearing $1m, so we can't drill the place to swiss cheese. A single hole was the correct approach.

With the rock we've gone through it's hard and slow going for a diamond drill, so I'm not too surprised it's taken a month to get to this depth. You can bet your house that if they were pulling copper sulphides out in the cores then there would have been visuals from week one, once we hit the high conductivity area, and we'd all be happy bunnies.

Where we stand now is that we need a second hole to validate what's caused the chargability anomaly. It might be we pull up iron, or it might be that we've just skimmed / miss orientated the hole against our assumptions. I'm following the CNB story and they've used the same marker strategy to find their high-copper hits, but even with the copper-filled tenements they have, they've had some dud holes which target an anomaly but miss the copper mineralisation.

We're not dead in the water here - hole 2 could show up the goods. And as others said, that hematite came from somewhere, and one thing we can say for certain from that drill hole is that what we drilled through cannot answer the question of the hematite source