Essentially this drill program will test the depth at double what is currently known. 5 holes for 1400m is 280m average per hole.
Using basic geometry on the expected angle they will drill to test IMV will be to around an RL of 200 below surface with current knowledge only extending to around 100-125m.
Long story short, if the RC proves mineralisation extends it basically doubles the resource. If deposit depth is consistent to the shear shown below this will be still be only around 1/5th of probable depth of system.
I garner extension drilling to the south at surface may be the next. which again doubles the resource again.
WCN daily looks to have found support on long term trend. I thought it may test the 1.5/1.6c but currently has held and daily stochastics and MACD have improve mildly, so might see a bounce from here.
weekly is oversold now first time since march 2020, so again could be nearing the end of the bearish cycle.
Daily needs to fire up first before the weekly starts to shown signs. If both these cycles overlap and switch bullish is 2 bottoms in both timeframes.
2.5c is the shortish term target for resistane. Breaking past here also correlates with the 61.8 fib retrace and subsequent targets upon back test break is 3.9c to previous high and the 1.618 extension sat at 5.3c. Fibonacci added below.
didn't buy today but had some WCN options get hit last week. 3 year expiration is good. 9m MC with lower EV is good risk vs reward for a pretty high impact play with reedy and the subsequent projects also good in my view.
I will free-carry in future when doubles/triples value.
SF2TH
(20min delay)