If the proposed drilling next year turns up anything like the historic drill holes then that should light the fire. At least I think we have seen the back of the total stagnation of exploration we saw in the last 2 years.
The hole (PP007) was drilled in the 1980s by ACM as part of a very broad space (~5km spacing) drill programme to gather information about the stratigraphy of the Yerrida basin in this region. PP007 intersected 50m @ 900 ppm copper from 10m depth that included 10m @ 2800 ppm copper. A second hole (VRC1) located 2.2 km to the north-west, drilled a decade later by RGC (the company that found the nearby Paroo (Magellan) Lead Mine), also intersected a broad zone of anomalous copper (40m @ ~428ppm). Both these holes indicate a large area of unexplained anomalous copper mineralisation
GTE Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held
