IXR 10.0% 0.9¢ ionic rare earths limited

Ann: Strong Gold Anomalies in Soils at Topacio,NCM-OVL.AX, page-13

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  1. 2,441 Posts.
    lightbulb Created with Sketch. 48
    I'm not a geologist but each of those samples were conducted on a 400x400m grid. The spacings are huge between each sample so to expect more than a couple of "outstanding samples" would be to misunderstand the scale. Look at the interpreted footprint on the maps for the reported soil anomalies and you can see some huge targets have been identified.

    The results were excellent from my interpretation and we should see an announcement soon regarding the geophysics (magnetic & radiometric) results. Combining this data with these identified soil anomalies will result in drill targets. Drilling should be commencing very soon, and I feel that will be a catalyst to at least double the current OVL share price. Our market cap is only ~9m currently. I feel at-least 20m is more realistic going into drilling.

    I thought I should add it's interesting to note that in the location of our current 340koz @ 3.9 g/t resource there are virtually no outstanding soil anomalies, yet there is all that gold there.
    Last edited by Inverter: 21/08/16
 
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