Just because x-sections aren't released to market doesn't mean the geo's don't have a conceptual model that is continually updated based on drill info. We are still scoping out the boundaries of the deposit to then raise funds to complete the infill holes to JORC standard. These infill holes will then give more detail on the continuity of mineralisation. What else apart from drilling infills/extensional holes can Zeff do to progress this quicker? The only thing I can think of is bringing more rigs on-site which is the plan come next year. As was communicated by the company, they didn't expect the mineralised system to be so big which is why they thought 2 rigs running 24 hours was enough.
Strip ratios and economics will come in time however there are enough assays released and geological knowledge available to give an indication to the scale and and shallowness/depth of mineralisation. Both of which give an indication to economics of extraction. As an investor/trader you can wait till more info is available on such things before buying in but you'll be getting in at a premium(less risk/less reward).
As for hole 51 not being great and geos needing training... are you saying that they should've put that hole somewhere else? It looks like you were banking on hole 51 to return large intervals of 10g/t+ grades and since that didn't happen you are now implying the geos don't know what they are doing... A few of these guys have been working on this project for a few years now and have more info available than what is released to market. I'm sure they know what they are doing which is also evident by the successful hits with every hole. You're a geo, you should know that you can have all the info you can get your hands on but until you put a hole in the ground it's all speculation. Sometimes you hit, sometimes you miss, but when you consistently hit over such a large area you're either a good geo or there's a crapload of gold in the ground. Or both...
TSO was listed extremely cheap for the amount of work completed prior and for the results they had. We were sitting on 16 DD holes for 3085m from listing. Since then we have drilled 58 DD holes for 16,611m at a favourable cost and have extended the mineralised footprint considerably. Surface works, IP work, tenement expansion, district targeting have all so far been positive/bullish. We have had a clear plan and path forward that has been pushed back due to the unexpected size of the system. There has been no operational issues and the team on the ground is making significant progress quickly. With more rigs on the ground in the next few months this will only speed up. The important thing is that value is constantly being added daily regardless of what the share price is doing. The project is constantly being de-risked and the quicker that happens, the more the project is worth.
We are now sitting at 29c... last time we were at 29c was a few days after visual gold was announced mid September. Since then we've received 24 holes of assays which sums to slightly over 1000 g/m with many of those being extensional. Fundamentally compared to where we were in the past at this price we are undervalued.
TSO Price at posting:
29.0¢ Sentiment: Buy Disclosure: Held
