As the dust settles on the weeks drilling results at Earaheedy...

As the dust settles on the weeks drilling results at Earaheedy and the ZNC presentation what have I learned?

Initially I thought the announcement was fine and clearly not a fail.

The ZNC guys supported this in the zoom meeting saying, that it was as they expected and they remain on track for a very good discovery.

The announcement did not knock the ball out of the park though. A brilliant announcement could have all but confirmed a Tier 1 deposit, just within the Chinook area alone, and the fact that did not occur may have led to some selling and the initial decline in prices as market expectations were clearly high, maybe unrealistically high. A Tier 1 discovery is pretty rare so those thinking this was across the line were probably deluding themselves. From over a billion dollars of exploration expenditure each year Australia may get one, Tier 1 discovery.

It now comes down to the geology. If this is a SEDEX deposit and these feeder faults work as discussed by RTR we will probably have a big deposit on our hands, maybe in time we get to Tier 1. Rumble's Brett Keillor thinks it is a SEDEX style deposit and he is one of the best geologists in Australia. Further drilling will tell.

In the meeting Mick Clifford assured listeners that ZNC understood the geology of Earaheedy basin very well. He quietly suggested some of ZNC's 100% owned tenements both approved and remaining to be approved could hold significant value down the track. ZNC also confirmed they expect for much of the next six months the RTR drilling will be focussed on the joint venture tenement.

I remain very confident on a risk reward basis about ZNC. I can see plenty of upside in the next six months as we will almost certainly learn whether, Earaheedy, Red Mountain and Split Rocks are goers.

All of the above is just my personal understanding and other people's views my differ.