Hello lloydboy, sorry for the tardy response. Been consulting overseas and not contactable.
Many magnetite deposits are fairly homogenous i.e. the grade and composition does not vary very much. I think that Dermotts limited drilling program is to get a feeling for grade and impurities. Having said that, I think it is really an area play rather than a serious exploration project. There is nothing wrong in this, and Dermott's cautious approach is to be welcomed. He has so many better targets and his funds have to be properly conserved. I hope this answers your question.
Regards
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