IMHO this announcement is very good news!3 diamond holes and 8...

IMHO this announcement is very good news!


3 diamond holes and 8 RC holes at the high-grade Hermitage Project has been completed
10 of the 11 holes intersected the target ironstone unit.

Yes thats right 10/11 hit the actual target they were looking for!

Below is from the 14/06/22 announcement;

The faults encountered in this drilling are common across the Tennant Creek Mineral Field and are likely post mineral thrust faultsas seen at the nearby North Star and Jasper Hills projects. Typically, they have relatively small displacements and the ironstonesand mineralisation continue at depth, which has now been confirmed in drill hole HERCDD010.The mineralisation encountered to date is hosted in multiple, east-west striking, structurally controlled, ironstone(hematite-magnetite) bodies that are steeply north plunging and remain open in all directions. Their tabular to pipelike geometry constrainstheir surface (horizontal) footprint, with the grades and likely plunge extent the subject of the pending assay results and furtherdrilling. Noting that some of the major historical deposits in the Tennant Creek Mineral Field had similar surface/plan dimensionsas Hermitage, with the largest being Warrego (1.5moz gold and 173,000t copper) where the host ironstone had dimensions in planview of approximately 200m by 50m, and a plunge of +600m.

So this is a very good announcement because they have hit 100% the targeted ironstone which is where the high grade mineralisation sits inside it!

Now all we have to do is sit back, relax, and wait for the results (expected) to be received progressively over the next 3 weeks.

GLTAH+DYOR

P.S. I'm pretty sure that Mr Dunbar is a more cautious managing director who is Professional and will try to avoid the 'pump and dump' investors by only releasing an announcement that is assay factual instead of just words and pretty pictures. Time shall see....