Ann: Gold Drilling Commenced at Star of Mangaroon, page-15

Fact is DRE are not a one trick pony.
Gold is more my thing (have run a site since 2006), but I recognize the rest of the industry too.

This catches my eye from the report:
"This is the first-time information on the historical workings and gold occurrences from such a wide range of sourceshas been compiled. Pleasingly, this has highlighted the significant scale of gold mineralisation along the >10km longMangaroon Shear Zone - a significant splay structure linking the (crustal scale) Minga Bar and Edmund Faults. Due to previousfractured small-scale ownership, no modern exploration has been undertaken and remarkably drilling of only ~200mof strike has occurred along the Shear Zone."

The presence of high grade mining in the past is encouraging, as is the soil work, and rock chips - but no cigar yet. We look for structure, host rocks and chemistry (vital in deposition process) and pathfinder elements in exploration. Dilation jogs are great as that indicates fractured host rocks - but they need a chemical trap to lock in that gold during deposition. The soil work does not appear to be due to transported cover; but I would like to confirm that with the "boots on the ground".

There is proof of gold; so we are dealing with a brownfield target here. Outcropping is so obvious, but remember that the gold came from down deep and grade tends to increase at greater depth. So outcrops are the tip not the extent. Speaking of which; it is good to see Tellurium in the mix (confirms "crustal scale" i.e. depth) and other minerals like As and Sb that can indicate sulphides.

Star of Mangaroon North 2 is sitting adjacent to a dilation jog with no soil indications but that can mean the mineralization is deeper there. Sailor Man and Popeye are good targets with confirmations too in soils; this area seems the most fertile at this early stage by simplistic observation. I like the array of fault structures and their convergence including KG. Scale will be key (2ic alludes to this frequently and he is right). This program could be very useful and the drilling is so far very shallow, limited and fragmented across this prospect.

I haven't anything concrete to say here; and nobody can do that yet. Just some hints and signals that need confirmation via drilling and modeling if successful.

They need to drill to ascertain structure and orientation as a drill in the right spot angled the wrong way can miss a major discovery.
We do know they are not drilling "Moose pasture" here so it will be interesting with gold well north of A$3000 and headed much higher (Au: Ag ratio still at nose bleed highs indicating more a bottom than a top).

A monthly close above US$2100 will have large momentum players involved while gold ownership is woefully low at this point in history. Gold is compressing ahead of that break out and the local economy (and fixed income market) here is not conducive to a huge rally in the AUD so that will be in our favor too.

GLTAH CW
Watch the Ni-Cu work to come - lots of it but FQM and DRE have sustained interest at least at this stage.