Given the rate of drilling for the first hole of ~70m per day, we should be looking at a depth of around 600m this morning for the second hole.
I assume that we are yet to hit alteration in this hole at the current depth of around 600m, otherwise we more than likely would have had a second trading halt.
The first hole hit varying amounts of hematite ± carbonate ± silica ± chlorite± sericite alteration from 836 to 966 metres.
So keep a close eye on VMS over the next 2 to 3 days, as we progress to around 800m depth by mid Thursday. Trading halt either later today or tomorrow will be a critical sign of the intersection of alteration in the second hole.
progress of second hole
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Mkt cap ! $42.01M | |||
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| VMS (ASX) Chart |