Yep - those Zn grades are just not good enough to be exciting yet, many operations with head grades of 5-10% are struggling, in C&M or ceased production, as for the Cu grades - they are useful in that the stringer zones in this VMS system does contain copper but they need to find some massive zones of chalcopyrite to give these prospects a kick in the pants because at the moment they are interesting and encouraging but not blowing anyone socks off. Looks like the EM method is seeing and translating to sulphides in drill holes and now its just a matter of figuring out the geology and finding some better/higher-grade zones. These VMS systems can be very complex and variable with sudden blowouts in thickness and grades possible but they are also small and complex orebodies so require a bit of drilling and a bit of luck to figure out.
Although its just one cross-section its also a bit concerning in that they are seeing such a high degree of enrichment at the surface sampling of the oxidized gossans, compared to the wider but lower-grade sulphide drill intercepts underneath it.
I am still holding - they are hard-working explorers and aren't afraid of the drill rig, unlike numerous other lifestyle companies out there, and they have a lot of projects being drilled, so I'm happy to see stuff being drill tested even if some drilling is not a knockout announcement. If it was easy to find an economic orebody then they would be everywhere.
DRE Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
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