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Ann: Trading Halt-MOD.AX, page-21

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  1. 316 Posts.
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    @Last of the Mohicans, perhaps a bit of a pointless argument as we obviously have different points of view, but they did actually pull back from the expanded drilling in the SW and didn't drill a number of the planned holes, presumably once they stopped intersecting mineralisation.

    Given the bonanza grades at 20D (20m @ 3.2%, incl 6.2m at 7.8% and 209g/t Ag) and 18D (30m @ 1.3%, incl 5.5m @ 3.7% and 71g/t Ag), it made complete sense to drill a series of holes 100m south and imho they were right to do so.

    The only holes that in hindsight they might not have drilled under the initial strategy were 39, 40 and 42, but as you've noted they were very shallow holes, in fact all 3 combined total just 300m, only 10% more than hole 13D on its own. Estimated total cost, about AU$20k? Nothing to get worked up about, especially given we don't know what other data they got from these holes regarding the geological formations, visuals etc.

    If you're looking for that 1M Cu, yes that was never going to come with this maiden JORC and I've never seen any numbers estimating that (wasn't your highest estimate about 600k?), but just look at the other soil anomalies in the immediate vicinity of T3 and then tell me you don't think they will ultimately prove up well in excess of 1M Cu around T3...
 
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