" Just a shame they didn't get to drill the other hole before...

OriginallypostedbyFish3

Justashametheydidn'tgettodrilltheotherholebeforethingsgotwet.Thecostsofre-mobilisingwillbesignificant,soIwonderiftheywillbeabletoaffordtogobackintherewhenthingsdryoutagain?WelldoneMongy,especiallyifyoupaid5cps,giventheyarecurrentlyat0.5cps!Actually5cpsismyaveragesharepriceafterbuyinginduringtheEBRdays.I'mhopingforaten-baggertogetmymoneyback.Washopingthisholewoulddoit,butmaybethenextholeiftheyeventuallygetbackintodrillit?

" Just a shame they didn't get to drill the other hole before things got wet. "

Well , IMO, it was a bit of a pig and a poke drilling campaign.
Done on the cheap, so ,if nothing was found , not much cost involved.
The thing with those UDR rigs, is when you gotta drill RC circa 500 mtrs down, it really tears the guts out of the rig, RC drilling is hard on rigs, particularly these old style rigs.
So where to now?
Well the hole was vertical, so we have no idea of the vein width .
I don't know what their gunna do, but what they should do IMO, is a survey of the entire permit area.
It would appear that either IP, or SAM, works well down to a 1000 mrs in the area ,we are in.
Cost of survey ,if done properly maybe circa 750K.
At this stage ,we've only found gold, where's the copper hiding?
So if it were I , I wouldn't be drilling there again this year, just get the survey done.
This would give them time to start monetising Ambergate, so they can mount a " proper drilling campaign , the year after, using " proper drill rigs" , from the likes of DDH1.
They have those Shramm RC drill rigs , that don't clap out ,drilling down to 5oomtrs,, plus they have top of the wazz diamond drill rigs.
The talk of the 4 permits in the NT, was that a fall back position, in case Saxby failed?
If a bird in the hand is worth 2 in the bush, surely , they have to stay the course at Saxby?

Raider