Diamond Drilling should be complete at Paddy's Lode now with RC hole RXRC458 nearly complete. 19 more RC holes into the oxide and transition zones are planned. While there are 4 DD results pending Rox is focussed on providing an interpretation of Paddy's Lode within its confirmed 200m strike length (see Next Steps below). That would include grade and true width along the 200m section of strike (which could be up to 900m) and whether it has an envelope of Supergene enriched gold - the icing on the rich cake. So while we could get another trading halt soon for the pending DD results it's also possible that the results will be batched. The reason for this in terms of ASX Continuous Disclosure rule 3.1A.1 is that with a major discovery like this that is quite complex the pending new drill holes are "insufficiently definite" they do not give an accurate assessment of Paddy's Lode. The company would be guided (in effect directed) by ASX advice. If that's correct, then we can look forward to a Paddy's and Midway presentation around mid to late July. That presentation has the potential to dramatically lift the share price but could also attract predators like RMS. Meanwhile the SP declines, making Rox a very tempting buy imo.
RXL Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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