Sure ...that's fine, Osr1986! As you say, drilling is the thing!
Of course, the Quarterly only outlines the preliminary results from the present round, so there's more to come and Jordan has this to say of what's next (p.4):
UPCOMING PROGRAMME
The company believes the project is progressing very well and the results received to date are highly encouraging with the discovery of highly anomalous bi-modal volcanic sequences very similar to those that contain some of the worlds most economically important VMS districts. This is rare opportunity as these sequences are completely unexplored, and in fact were not even previously known.
The company has identified several stratigraphic horizons to focus exploration on and is currently completing down hole EM on 18 of the completed drill holes. The immediate focus will now be on refining exploration methods that are best utilised to locate mineralisation as exploration of these terrains requires a multi-disciplinary approach of geology, geophysics and geochemistry.
It is expected that drilling will resume during the next quarter.
(By which, of course, he means THIS quarter - March 2011.)
One is just left wishing we could get Canadian valuations of the type of geological structures we're seeing emerge here. Then, I think, we wouldn't be seeing weakness in the sare price today, but quite the reverse! The parallels Jordan draws to the Flin Flon are not gratuitous.
GTE Price at posting:
29.6¢ Sentiment: Buy Disclosure: Held
