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0.5¢ mrg metals limited

certainly makes me feel better about deciding not to sell after...

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Zaeed

451 Posts.

22

06/02/17

08:53

Post #: 22389083
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Originally posted by vontrader ↑

Back from hiatus

Spoke to Andrew and received a very positive update and view on drilling from the company's perspective

- Hole 3 was targeted because of the Sasak technology

- Hole 1 was targeted using more tradition methods leveraging identification of a known anomaly

- unlucky timing of the assay results having to report hole 1 and 2 after we had reported hole 3. For some they have tried to treat it as 2 failures in 1 drilling program

- hole 3 was a stand out ....but un-mineralised. However the identification of proximal and distal alteration is as good as it gets without finding the ore - can be literally be meters away from Gold Ore yet only have less than 100ppb Au in the rock.

- MRQ have sufficient funds to continue the exploration program at Yardilla and will do so as soon as we can

I am therefore holding and waiting for next round of drilling. They should have a program and follow up targets announced this week, with next round of drilling much more targeted and expected to encounter the nearby source of mineralisation - no need for a CR in the short term, so next round of drilling results are critical

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certainly makes me feel better about deciding not to sell after the low AU from the first hole.

MRQ Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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Last 0.5¢		Change -0.001(10.0%)		Mkt cap ! $12.20M

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