It's early days, and there is still heaps of potential for...

It's early days, and there is still heaps of potential for further discoveries in the district. Remember, these sorts of deposits occur in clusters elsewhere, and so far we know of no reason why that shouldn't happen here.

It is early days on understanding the controls for mineralisation. Stratigraphy appears to be important, as does structure, but the relationships are likely not clear yet to anybody.

In fact, given the specific geophysical parameters defining Nova, we can expect to see a lot of emphasis on EM and IP in the broad area, just as we are seeing. Several companies have reported undertaking airborne VTEM surveys, but so far as I know, very little if any of those results have been reported yet. And I think we will see quite a few more such surveys undertaken in the area in coming weeks and months given the association between Nova and EM anomalies, and the availability of the specialised equipment in the area at the moment.

It is early days yet, and we will get many surprises. Some will be on the upside, some on the downside.

Also, it appears that we do know that the Nova deposit is cut off to the NW by a fault. That means that the other bit is out there somewhere, and likely within reach. It might take a few drillholes to find it, but it would be a very brave person that would say that the faulted off portion of the deposit has "gone". It could be that the faulted off portion is beyond the depth likely to show EM or IP anomalism. Doesn't mean it isn't there. Just a bit harder to find.

Crackpot is correct. If SIR is unsuccessful in finding further high grade mineralisation, the value will edge back and have to be based on the mineralisation outlined so far. For my part though it is far too early to give up.

Also, consider what would happen to SIR share price if a larger deposit were found on one of the other companies ground! I doubt it would go down much.