KWR (ASX) Ann: Goongarrie Discovery Extended, Priority Drilling Imminent

Originally posted by justreading: ↑

Hi mraki082,

The RC drill rig will drill through the mud as well as the bedrock.
The reason it would not have been used was due to the cost being more expensive and the fact the aircore drilling was designed to find the gold...It now has. Job done!!

The issue they had with the hammer re-entering the air core holes would likely have been because the clays in the hole can close in and block the holes just making it more difficult to work with.
Air core and hammer just don't have the air pressure required to drill through fresh rock especially if it's quartz reef as suggested and where the gold is sourcing from.

The RC and DD will have no problem getting down into the juicy part of the lithology and that is where the gold appears to be originating from.

Was very surprised in the sell off on the announcement as it just proved line 5 was no fluke and you only have to look at the north south strike distance and the amount of faulting within it to get excited.

I've had 2 excellent geos have a look at this and it could well be as Ed states, the early days of a multi million ounce discovery.

Cheers.

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I was also suspicious of that comment and that's why i posted the interview by Samson where Ed does say RC drilling will commence after the DD.

Who knows, maybe the mineralization will be in all directions when they stick the diamond in. I have also had some people look at Goonagrrie for me and like you said, big potential ahead.

Regarding the sell off, We have gone up over 100% in 4 weeks. A lot of traders use charts, bollinger bands, overbought, oversold conditions etc, etc.

Also the big funds have there percentage criteria regarding where to take a profit or loss.

Give us another 100% rise in the next 4 weeks, w'll take that.

We all know that KWR is not fully priced regarding what they have found to date and upside potential regarding under the Goonagrrie lakes and also what is at depth at Menzies.

Menzies below 200m depth has only ever had historically approx 20 holes drilled to date. A big system lays underneath.

I hope they keep the drill rig spinning at Menzies while also digging out the GOLD.

Let's get 2 RC drilling at Lake Goongarrie, a huge 40,000m drilling program i say!