OZM (ASX) Ann: Gold Mineralisation Extended at Cross Fault

Originally posted by Paul88: ↑

Brother @Hateful8 my point is why even bother with this shallow AC drill program when you've already got a pretty good idea of what's there (or what's not there) from historical RAB drilling. Basically, the same thing happened when they AC drilled the immediate southern side after the initial discovery market release back in Feb. Thats twice now in a matter of months where they have shallow AC drilled an area with historical RAB drilling (which pretty much didn't turn up anything of note). So why do similar drilling when the odds are not in your favour? Thats a head-scratcher for me and why I reckon the share price pain is self-inflicted. AIMHO (DYOR).

Why not RC drill to depth where historical RC holes have hit (MG4, MG5, MG6 and MG7) or where historical shallow RAB holes (MGR2/19 and MGR2/39) have ended in mineralisation? We know where the gold is (or where it isn't) because the historical records tell us so. If it was up to me, I wouldn't waste time and money pussy footing around where the odds are not in my favour. I know where the old drill hits are (eg, MG7 which hit 10m @ 0.76 g/t Au from 80m and ended in mineralisation) and I would go deep at those spots to replicate and build from there. I would've just kept it simple. Sometimes less is more. AIMHO (DYOR).

These are the existing old RAB holes in the area recently AC drilled by OZM:
1986 - holes MGR159 to MGR172 (map and assays from WAMEX Report 19849);
1987 - holes MGR2/17 to MGR2/58 (map and assays from WAMEX Report 22302);
1999 - holes PINB58 to PINB63 (map and assays from WAMEX Report 59306).

1986 - RAB holes

1987 - RAB holes

1999 - RAB holes

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These are the four old RC holes (MG4, MG5, MG6 and MG7) from around 1985 (see WAMEX Report 39210). They are all located in the area of OZM's recent AC drilling. Why were these not followed up with proper deep drilling instead of the piddly AC program we got where we were on a hiding to nothing. At times I get the impression that drilling decisions are being made on the run (especially when the odds are not in our favour) without proper thought as to market reaction or expectations not being met. Both shitty AC programs were dropped on us after commencement. I can't recall them ever being flagged before then. Please correct me anyone if I've got it wrong. I hope the new Chairman is objectively and strategically minded and holds the big man to account with any future drilling program. This is not a criticism but should be viewed as constructive feedback from the perspective of a neglected long-term loyal shareholder base. You can see for yourselves below that these four old RC holes had some decent hits which you would think warranted following up as a matter of priority. Instead, we get an AC program where the odds were against us given existing old RAB results. I can't logically understand it. Maybe from a geological point of view it makes sense, but Mr Market is a different beast altogether haha! I think decisions (even drilling ones) need to be made in the interests of the company and its share-price as a whole. As a publicly listed company, I don't believe you can make decisions about drilling programs solely in the vacuum of geological stricture. Sometimes less is more and being able to break from the norm with novel or tailored approaches, provides for a more holistic outcome for the company. AIMHO (DYOR).

Bearings of those four old RC holes are as follows:

I map MG6 and MG7 (top smiley face) and MG4 and MG5 (bottom smiley face) roughly as follows. Maybe someone can confirm or do the calculations and properly plot the locations for us as I may have gotten it wrong. AIMHO (DYOR).

MG7

MG6

MG5

MG4