The key in this announcements is they only went to 6 metres (or from Ann wording less in some holes), and further more they drilled in areas already disturbed by prior activity (which also impacts results).
Discussions around comparisons to VMM are really irrelevant here - VMM and MEI drilled deeper and you only have to look at its drilling data for that. I have noted quite heavily in a number of drill results from VMM and MEI itself the grades for specific drills start occuring beyond 6 metres, whilst some are at surface, whilst for others some surface data to 6 metres is not great, but for that drill TREO then improves significantly at beyond 6 metres.
It would be nice to actually see MEI and VMM data results on a metre by metre reporting basis as well to be frank (which I have seen other companies particularly operating in lithium, copper and gold report. The total TREO grade of a drill itself can be influenced by high grade in a few metres of that drill result, and then averaged over a larger meterage where grade is lower.
Having said this POCOS shouldn't have been a focus of ENV. The results on its larger tenement are not great to 6 metres, but ok in some holes. They should have drilled some of those holes deeper, but obviously hand held augur has its limitations around depth.
Also having said this, the results appear very mixed as reading between the lines for this total drill campaign some of the reported results in Table 2 (at the back of the Ann, appear to have signatures of IAC, others don't but that is at a high level. And only an IAC test will determine that - and to repeat a previous comment I made when posting here not all a clay resource would be expected to be IAC anyway
For CODA they need to drill to at least 30 metres, then you can have comparisons to VMM and others. The buffer itself should make POCOS, well that tenement in the buffer, not a focus of any more drilling. What lies underneath 6 metres may need to be tested in time with a few select drills to get definitive clarity as to whether anything is there, but it should not be a priority IMO.
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