It is fantastic that Chris Cairns stepped in and clarified the situation. A lot of baseless misinformation can cause unnecessary tangles on Hot Copper threads, when sometimes a simple enquiry is all that is needed to keep communications accurate.
After a few enquiries of my own, I can offer the following:
The announcement commented on the drilling recovery – ie the amount of drill core that actually arrived at the surface. Drilling recovery is dependant on several factors. For example the ground can be 'broken' and in small pieces that are not easily captured, and there can be a lot of clay which is simply washed away by circulating drill fluids etc. etc.
The supergene interval wasn't refractory since the sulphides were already oxidized, and the core material was a combination of soft clay and hard quartz vein - in fact a drillers nightmare, as having both hard and soft material at once makes life difficult. It is quite possible that much of the clay and smaller quartz vein fragments have been lost. As a result, the representativeness of the sample is compromised a little, as something like only 36% of the volume of material would have actually made it to the surface.
The above is not uncommon but the company was at least transparent in flagging the issue to investors in yesterday's report. It is rather unfortunate that some posters ran with it without first making checks, causing unnecessary negativity and needlessly detracting from yet another extremely promising drilling report.
At least there are no metallurgical issues with Salt Creek!....LOL
And I suspect there won't be any with Lucky Bay either!
Meanwhile, we wait for the market to understand that gold is going to have a huge run, and that IGR is progressing nicely, and below the radar of most in the investment community.
As they say, patience is a virtue, and I reckon that patience is all that is required here!
Cheers guys Nev
IGR Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
