good to see drilling start immediately, pretty exciting target the market wont jump on like every other VMC announcement, results hit in the past by WMC, BHP & Ellendale resources, they think it could be a near miss, guess we want to see a massive sulphidess hit & stock will soar if good
From previous announcement:
The Vidure prospect was identified as a Ni-Cu-PGE geochemical anomaly located on the southern margin of the Youanmi layered mafic intrusion. Base metals mineralisation was first identified by WMC in 1973 in the historical diamond hole MYDD0041 (WMC 1973) with a 1.22m intersection of massive sulphides with 2.2% Ni and 0.14% Cu from 135m. In 1985, BHP drilled a hole nearby, PW00762 and encountered 8m @ 1.47% Cu, 0.13%Ni and 5 g/t Ag from 120.5m, including 0.71m @ 7.01% Cu, 0.8% Ni and 21 g/t Ag from 122.35m (refer VMC ASX releases 2 November 2015 & 11 December 2015).
Comparison of the model plate locations to previous drilling indicates that all four EM conductors appear to be untested by historical drilling (Figures 4 and 5). VDEM2 sits close to CNRC0103 drilled in 2004 by Ellendale Resources which intersected 6m @ 0.28% Ni and 1.12% Cu from 114m (Barnes 2005) and may be considered a near miss.
VMC Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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