it's exploration company - meaning - they will need to raise funds to explore.
so far they had mixed results in Mongolia and welcome to porphyry exploration. F109 did not live up to expectations but at same time it demonstrated the mineralised zone is very wide at shallow levels or the upper sections of the dislocated/uplifted zone. I think OB1 did not use the optimal angle to intercepts all the veins as with F62 as F109 was drilled in south-north direction while the hole it was following up was drilled in north-southwest direction. F109 was probably supposed to be drilled in south-northeast direction to hit maximum veins and show best grades.. Just a speculation based on what I have observed.
But F111 showed really good and shallow grades which is what OB1 plans to follow up on at West Kasulu.
Shutting North is something worth chasing as there are mineralised outcrops there so this is not going to be classical lithocap which requires ~ 500m long holes. Ob1 can drill 100m - 300m holes there which means they can get away with RC drilling and only couple of DD holes to for further study.
I follow this stock as I hold KCC shares...
OB1 Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)