Most holding here should have done enough research to know that...

Most holding here should have done enough research to know that Wattle Dam was a small surface gold deposit that grew to be one of Australia's highest grade gold mines. The mine extended to around 365m as they kept finding more gold throughout the mining process. It was a company maker for RMS however with the free cash flow they made from it they bought another established resource and moved on meaning that regionally very little follow on work was done to locate repetitions.

The market response to drilling results so far has been pretty weak but I think this is largely to do with the quite heavily retail orientated register plus the relative weakness in gold prices compared to other commodities recently. The results themselves I believe have supported the theory that a large gold resource can and likely will be defined. Perhaps it's a good time to step back and ask what are your reasons for holding? For me it's simple, I'm holding to see the value shift as they discover a large ore body. I've just been reviewing the intersections from the last few drill results where highlights are:

09/09/20 - High-grade intersection 3.0m @ 83.3g/t Au from 25m, including 1m @ 245g/t Au (S05AC001)

13/01/21 - Significant gold intersections within the 32m @ 3.2g/t Au (S05RC007) includes:
- 6m @ 3.1 g/t Au from 105m incl. 2m @ 6.8 g/t Au (S05RC007)
- 13m @ 5.9 g/t Au from 118m incl. 2m @ 6.5 g/t Au, 5m @ 10.9 g/t Au and 2m @ 3.8 g/t Au (S05RC007)

15/02/21 - Gold intersections up to 48.4 g/t and confirmation of continuity of high-grade mineralisation domain at Redback Deposit.

All drill holes intersected gold mineralisation. Significant gold intercepts include:
- 16.3m @ 9.3 g/t Au from 229m (RBDD003) incl. 5.5m @ 6.7 g/t Au from 229.5m and 5.8m @ 17.9 g/t Au from 240m, incl 1m @ 48.4 g/t Au from 240m
- 2.0m @ 10.1 g/t Au from 258m (RBDD003) incl. 1m @ 15.1 g/t
- 13.0m @ 1.9 g/t Au from 232m (RBDD002) incl. 2.0m @ 6.9g/t Au

Visible gold observed within RBDD003 high grade zone of 5.8m @ 17.9 g/t gold.

I start to wonder how this compares to early Wattle Dam drilling and came across this announcement from 2008. I note that the visible gold cores look remarkably similar and that this one was 30 meters away from one of their high grade intersections. Really puts in perspective how just one hole can change the entire game.
For comparison here's the latest announcement from MXR along with their visible gold core pic.