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Ann: Drilling Update for Mt Alexander, page-10

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McQuade

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23/02/21

11:26

Post #: 51242019
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Originally posted by ozblue: ↑

I'll be the first to admit I'm looking at everything here with a really critical eye, basically because I don't like losing money on investments.

This announcement has obviously been rushed as there are numerous mistakes, like marking 2 holes as STD011 on the map on pg 3.

I was curious to where exactly the holes were drilled, this information is in the table on pg 9.

Looking at that table for how close the holes were, the one right next to the highlighted STD014 is STD013 (marked as STD011 on pg 3), is only ONE metre away. However hole STD014 is called as being in "West End", while hole STD013 is stated as being in "Fairbridge" in that table.

What is this, amateur hour??

These 2 holes, only a metre apart (according to the Eastings and Northings), are both at a very steep dip 85 and 86 degrees, so even though one is oriented nearly North (STD014) and the other nearly South (STD013) they will be only a few metres apart where they hit the ore zone (IMHO probably less than 10m as a WAG without doing the maths on it). However the mineralization hit seems to be vastly different, with STD013 being nowhere near as good as STD014.

I'm starting to realise exactly why they keep looking for the elephant, there appears to be some nice very rich veins of ore in these shallow areas, but they are not consistent, nor are giving any good bulk areas to mine. How do you let shareholders with high expectations know about this over time? IMHO do exactly as they have been doing and hope to find the elephant.

Expand

Take your point on the labelling.

Doesn't azimuth directions suggest one is 30degrees from north and the other 179degrees. Meaning the holes are 149 degrees directionally different?
i.e they are pointing well away from each other so that at 60m depth could be (someone do the maths) miles apart.

SGQ Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
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