Exploration activities have slowed, with the focus remaining on the logging and sampling of diamond core drilled during the previous quarter, including; • Lady Irene and Yunndaga deposits (Menzies EGS/IRC JV)
Bombay prospect at Mt Ida • Golden Wonder prospect, east of Giles • Mystery prospect, west of Lady Gladys At period end the Mystery drilling had been geologically logged and is awaiting sampling, while logging of the others remained ongoing.
So we IRC holders might well get some more JV drill results but unlikely EGS will fulfill JV agreement so we should get back 100% control of the Menzies Project which is fine by me stuff dealing with EGS anymore ... rather see Goongarrie toll treatment at -Paddington-
Be good to see IRC put some deeper exploration drilling at high-grade targets as we know pre WW1 they produced 260koz @16g/t av. at Yunnadaga
IRC Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
