@tbirdsrgo ... "
So any one of the remaining holes to be drilled might be the one, including S2."
They drilled S1 where the MT/AMT survey showed NO deep conductive material, and sure enough it didn't find anything other than 0.4 metres of mafic rocks, not even any ultramafics.
The odds of S2 finding similar to S1 are extremely high, as it is also drilling into an area the MT/AMT survey showed had no conductive material.
I've been stating this since December, when
@SandyC was trying to promote the MT/AMT survey as being positive for chance of finding massive sulphides, which it clearly didn't!!
If there was a large body of massive sulphides as in 250-450m long and 30m + thick in S1 or S2 then the MT/AMT survey would have shown highly conductive material in this location!!
The S1 target appears to have been some potassic alteration, big deal.. The DHEM which they did after drilling also found nothing. They have known the drilling results for a few days at least, while the SP had a lot of selling pressure while doing the DHEM.
Have a look at the Siemens target they are now highlighting to the North West of Stricklands, the 22,500 reading one has a size of 4m X 4m according to their map. It's not worth drilling, so why bother to highlight it unless you're clutching at straws??
If you're going to do a comparison with Nova do a proper comparison. Sirius was drilling the first holes into the large EM conductor target. They had a Mcap of around $5m, which went to ~$40m with the drilling of the first 2 holes. They had assay results for hole 1 and hole 2 had more massive sulphides. St George is starting from a Mcap near (well before today), where Sirius finished after the discovery holes (not hole).
If they drill another hole into one of those small EM conductors, IMHO the market will ignore it as more of the same. I've been investing in this end of the market for decades and made some really great returns over time, but there needs to be the right balance of very low Mcap, with a large highly probably target, in a decent location to get the big results. There are plenty of one day wonders at this end from those that do have "one good hole", Estrella being a recent example, up from 2c to 25c over a couple of weeks, now back to 3c.
This end of the market can have some wonderful results, but they are few and far between, this certainly aint it!!
When has any company you can remember that was 2 plus years into a scoping study, and still didn't have an MRE?? Just about every company that I know of either has an MRE before they start a scoping study or has one within a month or so of starting one. Yet this mob keep leading investors on about needing some results from Canada before producing an MRE. It's BS because they don't need those results at all. IMHO they don't want to release the MRE they have because it's so small people will realise very quickly there is not enough to mine.
(20min delay)