nyc3053 - hope it is not too far from the truth. They released news at several stages from first hole through to the last set on the 14 hole program - not sure why we have heard nothing much on the later stages of Phase 1 South drilling! Maybe something to do with confidentiality as its TRIPROPs holding at the moment. Or just the poor NMR crew is flat out!
Can only hope a nice surprise is in store before for holders before the break.
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No one took the bait from my first post in this thread...so I gotta ask...
Is there anything of note here - or is the following just standard drilling terminology (ranges - not actual target depths?)
From 24th October 2011 announcement....
"The reverse circulation (RC) rig is being utilised to drill to the top of the sedimentary unit hosting the first coal horizon before casing the hole. The two diamond core rigs will work in tandem and complete drilling in a depth range of 150m to 300m and basement."
What's this "300m and basement" caper about?
Anyone?
Check the depths of the 14 hole program (page 9 & 10)......
None of NMR's 14 were any deeper that 189 meters, Homeland drilled 3 holes to depths near 300 m - but further north on the original holding (PL035/2007).
Are NMR having a crack at finding something deeper than the 4th seam, now the coal bed seems to be getting shallower?
Also from OPTIRO report...
"In the Takatokwane area the Mmamabula Formation is at least 75 m thick and may be thicker, as it is not certain yet whether the full sequence has been intersected."
Any comments?
bsh
NMR Price at posting:
3.6¢ Sentiment: LT Buy Disclosure: Held
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