The reporting of Mineral Resources in today's qrtly fall a long waty short of the JORC standard (see http://www.jorc.org/pdf/jorc2004print.pdf). Specifically there is no desrciption of the geolgical interpreation and no indication of the dimesions of the ore zones, depth, horizontal width, depth to top and bottom, sample recoveries in drill holes (we know these are poor in some cases). Intergrity of the drilling database (how mouch BHP data cf AZR data). What assumptions have been made.
The reporting of exploration results is not balanced. What was the drill hole spacing? Total Depth, Dip and Azimuth? Recoveries, these were problematic in the RC. Comments about dip of mineralisation - how do downhole intercepts cf true widths?
15 holes were drilled at Main, only 9 reported. What did the other 6 holes get? 20 holes drilled at Eastern only 7 reported. This is not balanced reporting. No wonder the oppies didn't get over the line.
No mention of taking up placement in FXR - Pontential conflict of interest for BM who is also a MD for FXR.
AZR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
