BUX Breakout ?, page-43

Thanks for the tag @zubric
No I cant be more specific - possibly you are right. However I do recall Copper Wolf is a known large resource from historical drilling with suggestions of copper porphyry style alteration.
IGO has funded a deep diamond hole which BUX is drilling as operator, it closely follows an historical hole to confirm geology and stratigraphry which then will give confidence to the other historical holes.
That hole is expected to be extended at depth if the alteration is as expected. It could prove to be a further discovery hole - but more likely a pattern will be drilled.
Drilling, logging, cutting core for assays and waiting for results and their intrepretation for future work will take more time yet IMO.

If results are not strong IGO could walk, otherwise they will meet all the exploration costs to a predefined stage (I don't have the detail in my head) - best case is we have a free carry to a valuable share in a potential mine.
That situation has never happened to me so I'm not sure how it will pan out, but although we lose equity we do not have dilution for exploration.

GL all - DYOR