PEX 3.85% 12.5¢ peel mining limited

Good question, They did indeed proceed and drill out the...

  1. WCJ
    372 Posts.
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    Good question,

    They did indeed proceed and drill out the remainder of the targets, apologies if I gave the impression that wasn't the case. At the point those quoted results I posted were received they already had extensive drilling sufficient to establish a JORC compliant resource, the follow up drill campaign was merely targeting resource extensions supplementary to the main deposit, in particular the T1 geophysical anomaly. The extension drilling to date as a result has however bumped their JORC resource up 65% (119,000t copper, 6.6 Moz silver, 83,000 oz gold, 38,000t lead and 38,000t zinc). Preliminary met work completed and PFS in process so certainly exciting times regarding this deposit.

    Big difference this time is that they are not simply targeting resource extensions, they are targeting additional deposits and Southern Nights looks on face value at this stage to be a potential significant discovery in it's own right. Still more work to do to confirm this but having a read back over the exploration programs for the last couple of years I really like the companies exploration style, very methodical and systematic. More drilling and hopefully some down hole EM surveys will paint a picture very soon as to the significance of the discovery.
 
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