Arsenic. I am happy to tell you that I am trained in geology, but I am sorry to disappoint you and say I can't tell you what you want to know. I cannot judge from these core photos of DDH444 whether XAM is zeroing in on a high grade zone or not.
The best advice I can offer is that orebodies vary hugely over just meters, that is why the rules for measuring orebodies demand so many drill holes. If a piece of core weighs 1kg, and the target is one billion tonnes, then that piece of core represents just one trillionth of what we are exploring. Tens of thousands of meters of core from an orebody like XAM is looking for are required to turn mineralisation into a mineral reserve.
Looking at the wet face of a split core in detail can be classed as science, exploring for an orebody is an art. Without the people who are spending 10s of man years on site trying to work out what is there, there is no connection between the science and the art. They are the only ones who can really tell us what they think they are finding, and they are unlikely to be impartial in their reporting, even within the bounds of honesty.
Personally, I like the big picture I am seeing and I am willing to leave my chips on the table. What do I like? I like the potential size, the topography, the environment, and the geopolitics. This is a competitive project which will continue to yield news for years to come.
XAM Price at posting:
27.0¢ Sentiment: Hold Disclosure: Held
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