drilling time table: see the last preso but now they have...

drilling time table: see the last preso but now they have decided to drop Hann (10,000m slow going and and not a lot to show versus results at Justinian. The latter was going to be the end of the year so your guess is as good as mine)

I have the same cash problem but am keeping the belt tight for now. Despite today's train wreck I would think we are at the start of the next leg up and expect a stream of results over the next months.

Justinian is the big one though. They had one hole 10EYRC0116 that had mineralization of varying grades across a 70m interval reported in http://www.goldroad.com.au/reports/EKMJustinian11112010.pdf

interpreting drill results - hard.

try http://news.goldseek.com/GoldSeek/1242751631.php

Imagine you have a cake covered in icing. Could be a layer cake, could be a marble cake, could be a chock chip cake. No idea but a few crumbs of chocolate on the plate which could have been left over from last time the plate was used.

The game is to tell how is the chocolate distributed. Does it have layers of chocolate (layer cake), swirly lumps (marble cake), concentrated nuggets (choc chip) or nothing at all (dirty plate) by sticking a skewer in....

Anyway look for grade 0->2 g/t is low, 2->8 medium, > 8 high.

Volume - how much is there? lots of low grades that are shallow are as god as high grades that are deep. The super pit runs at less that 2g/t but there is a lot of it.

So for volume - what sort of area are the grades coming in from. And thickness 1m or 10m?

Consistency - is it spotty - nuggets or a more uniform distribution?

Depth - shallow is good = open pit. High grades and narrow is ok = underground mine. Lets say surface to 100m is open pit but if the gold starts at a deeper level then it will need an awful lot of rock to be moved before it starts paying back hence needs high grades - or bigger volumes.

Best bet if you have time is to look up enterprise value method

http://www.avoidglasses.com/rau-chart-and-analysis/

or this one
http://goldnerds.com.au/gold-info/gold-stock-valuation-using-evoz

Bottom line with drill results is that you are looking for lots of potential - there are so many little goldies with around 1m Oz - that these days a company has to offer the possibility of lots more to stand out from the pack. So huge grades or large tenements (like gor)

In this day and age I am only bothering with things that at least have the chance of being huge. FNT, GOR, PWN, MGV etc