Hi all,First time poster and recently new holder in MEI. Have no...

Hi all,

First time poster and recently new holder in MEI. Have no background in geology or gold exploration so go easy.

I've been looking at some of the old announcements made by Lago Dourado Mineracao when they held the Juruena project.

It appears they stumbled across this same IP Target. I understand that the IP survey was conducted 8-10 years ago hence why MEI's survey is perhaps more trustworthy and precise in terms of location and depth.

http://media3.marketwire.com/docs/LDMFigs1107.pdf (pg1&2)

Lago Dourado Mineracao having identifying the same IP target conducted some drilling in the area.
Ultimately they concluded that the deposit had eroded. I note however that the drilling was more widespread given the inaccuracy of IP surveys at the time which Tunksy pointed out.

http://media3.marketwire.com/docs/LDMfig2.pdf

Of the drilling a couple holes I took notice of (given their location in relation to the centre of the target identified by MEI in this announcement).

JRND063 (result omitted from MEI announcement 21/03/2019?).
http://media3.marketwire.com/docs/LDMfig1.pdf
https://ca.finance.yahoo.com/news/lago-dourado-discovers-high-grade-123000258.html

JRND059 (results omitted from MEI announcement 21/03/2019).
http://media3.marketwire.com/docs/LDMFigs1107.pdf (pg 3&4)

JRND056
http://media3.marketwire.com/docs/LDMFigs1107.pdf (pg2)
https://www.bigrivergold.com.au/wp-content/uploads/2014/05/150514-LDM-Announcement-FINAL2.pdf (pg13)

Given JRND063 (depth of 465.4) proximity to the centre of the identified target is it concerning that no significant intercepts were found (particularly at lower depths)?

Or is it merely the case as with JRND059 (see Lago's drilling cross section) and also perhaps in JRND056 drilling did not extend far enough?

I guess we will have answer soon enough...