well said mate. Hence why I am not totally dismissing these results and further analysis may suggest a follow up holes could be warranted. When exploring for porphyry style deposits, it takes time and more than few holes - unless super lucky.
AZY is drilling and that is important - but they need to stop the over enthusiastic language. Showing some modesty may actually attract more investors.
PM1 result is not bad actually - as an early stage exploration. Not always the deposit will contain large low grade hallo. I have seen deposits that were tightly sealed until a hole was drilled only about 100m from its high grade core before showing wider intercept but still low grades. Hence why I say further analysis may warrant follow-up holes but it will be expensive.
The announcement could have been worded as Positive Early Signs from PM1... rather than Gold Mineralisation Confirmed which triggers people when they see that gold mineralisation is ~500 downhole and will never ever be mined due to its thickness and grade.
To hit a discovery with the first hole, one has to be super lucky and I can assure you, skills would have played less than 5% and luck more than 95%.
PM1 may not host an economic deposit at all but at same time the first hole could be only 250m away from a giant deposit and no one will know until tested.
AZY Price at posting:
1.2¢ Sentiment: None Disclosure: Held
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