RWD reward minerals ltd

Are we drilling in the wrong place?

  1. 1,239 Posts.
    Interesting to note the following from the Quarterly.

    "Porosities were typically highest within the upper portion of the cores retrieved, entrained in clayey sands and gypsiferous clays. These high porosity sediments were encountered down to 135 metres (EOH) within LDDH1503 while at LDDH1504 competent rock was reached at 83 metres suggesting a shallowing of the palaeo-system to the southwest."

    Given the commentary above is it right to expect the coming holes which are south of 1504 to be shallower still and what effect will it have on the resource estimates of those who have calculated on 80-100m average depth on this thread? What effect would a 30m deep hit on hole 1505 have on the shareprice given most of this thread were making resource estimates based on an average of 80-100m depth? Have I been wrong blaming Ruane for the loss of SP momentum by taking LD being an elephant for granted when it is really a hippopotamus? I know, I know that due to drainage the resource will replenish itself but I assume one can only measure what one can drill. Is the market going to be disappointed if we can only prove up 150-200mt at LD and not a billion.
 
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