A short bit by bit analysis, all just my opinion, and I could be...

A short bit by bit analysis, all just my opinion, and I could be wrong, in which case I will hopefully be told so by other more active investors. The main key points as I see it...



Key Point 1
"Discussions with a number of interested parties continue
regarding a potential transaction intended to deliver upside for
shareholders."

Analysis
In my opinion, they are inferring that discussions are being made for a joint venture, or some sort of discussion around a conditional development of a mine site. All though, the discussion could also be about a possible key-stone investor.




Key Point 2
"All land access agreements have now been finalised" - as a result of this  - "extended the New Frontiers Cooperative Drilling programme to April 2016"

Analysis
Essentially this means that we will be receiving drilling updates by April, or at the latest May. A good sign that this mining company is being productive, despite what the crowd thinks, this is great news. Basically, the land agreements allow for us to easily and confidently continue drilling as there is access in and out.




Key Point 3
"An initial 1,200 metres of diamond drilling is planned for Halls
Peak"

Analysis
This is intuitive, they have done electromagnetic surveying on the region, and identified sulfide density that is significant. They are not drilling for diamonds, but drilling using a diamond drill bit (I presume). SedEX deposits, are the most important source for Zinc, Lead and Barite, all very viable minerals, and a major contributor of silver, copper, gold, bismuth and tungsten.



Overall
The fact that they have used Consultant Geophysicists, means they have independently sought consultancy (VTEM?), and analysis of the electromagnetic surveying, the statements made are therefore not completely their own interpretation.

As a result of the above analysis', the diamond drilling being undertaken is to 'test' whether the shallow deposits could be a sign of deeper high-grade deposits. To invest 1200 m of drilling means there is confidence in the region that some sort of metal deposit is there, so in actual fact they are testing the tonnage and grade of Copper and Silver in the presumed location. While also possibly testing whether gold is present (deeper) in or around the sulfide deposit.