Hi
@mitisI strongly suggest you watch the John Prineas interview that
@Rotichan posted this morning again and that other posters watch it. Well done Rotichan!
In this interview, JP tells us all exactly why his team is very confident with their 2D seismic results and why the next step is to drilling these targets rather than doing the 3D seismic. There are also things that JP does not mention in the video or in the latest announcements that are equally as important and need to be understood.
JP correctly states that the 2D seismic does not show the east west width of the seismic target so they do not know these dimensions along the 450m dip, however what I suspect his team does know and has remained silent on at this time (and for good reason I believe) is that the 2D seismic would have defined the depth of the seismic target along the 450m dip which would swell and contract down that length. Hence why they call it 2D!
The St George team would also know the length, thickness and width of the fault structure this S1 target is in from the 3D MT/AMT modelling of the Investigators north south orientated region which they completed in early 2020 (refer to their 22 April 2020 announcement). Hence if the seismic S1 target is 450m long and potentially very thick (depending on what the 2D seismic identified and sure it may not be 100% accurate as posters have highlighted but even 50% is good enough for me) then the length and depth would be confirmed by their 3D MT/AMT modelling as well as the east west width of the fault structure along the 450m length. Very important holders understand this as IMO the S1 target would not have a small east west width (unlikely it is a thin vein) if it has been defined as a 450m long and potentially very thick target within the 3D fault structure modelled by the 3D MT/AMT analysis.
Drilling and then doing a DHEM to define the 3D dimensions of this target is therefore the smartest way forward and will be much cheaper than spending a significantly large amount of money on 3D seismic that will take 3 plus months to do and then spending the same money drill it anyway in say 6 months when they secure another DD rig. I say lets put hole in this beast asap.
I strongly believe St George is onto a winner with this next drilling program but that is just my opinion and time will tell.
Not many sleeps now.
Cheers
SandyC
PS. I suspect some posters may make a big fuss about St George not disclosing the second dimensions of the seismic modelling but I think it is the right call until all the dimensions are properly verified by the drilling and DHEM (or if they did a 3D seismic which I'm glad they are not doing) otherwise the company is further exposing itself to misleading investors claims, given the 2D seismic target inadequacies highlighted by some posters.
(20min delay)