drilling to commence

The recent JMS ann on its Program of Works was welcome and timely news, for apart from JMS’s likely need to amalgamate with other prospectors in the Central Yilgarn region to have a substantial sustainable mine, much will depend on the extent of the resource it holds itself at the Mt Ida Prospect.

Whilst the Mt Ida central zone is described as having “a series of thick (45m+) massive magnetite BIF”, it features numerous cross cutting faults and shears. The ann acknowledges that although this environment can host hematite mineralisation, the geophysical anomalies in that zone could be from a range of other geological features.

So the drilling is obviously critical to the future prospects of JMS at Mt Ida. I have no doubt that if the drilling results turn out to be positive (and the cross cutting faults are demonstrated to host hematite mineralisation), the JMS share price will jump to a new level. We should know the outcome before Christmas – very timely indeed!