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I love it - it a massive gold mine
May will be a great month results for 36 holes in may!!!!!!!!!!!
Two lines from the RNS stand out for me (aside from the excellent technicals):
"The program has also opened new highly prospective areas of the tenement previously not explored and identified prospective further DSO grade potential"
This suggests to me the initial estimates for this site will increase markedly. Just conjecture from me now but let's say this puts the site range from 5-15Mt to 10-25Mt ???
and
"the information we have today gives us great confidence in the potential for the project. With current iron ore prices at multi-year highs, we believe that our iron ore projects will deliver significant value to shareholders as we continue to advance them"
I mean which holder doesn't love a line like that ?
HL showing an 8% rise in the first 10 minutes of the morning. The market likes it.
The bid to sell keeps ticking up :))))
NOT SELLING A BEAN!!!
NT to buy!
Sheep - More holes more cash!
Highlights:
o Drilling completed in March 2021, with 53 Reverse Circulation (RC) holes for 3,350m of shallow drilling across priority High Grade Direct Shipping Ore ("DSO") targets.
o 3 main target areas drilled, including Sirius Extension
o Results received to date from 17 holes. Best results to date include:
o 26m @ 54.3 % Fe from surface, including 13m @ 61.5 % Fe from 2m depth hole AM21RC001 006.
o 18m @ 55.1% Fe from surface hole AM21RC001 016.
o 10m @ 55% Fe from 3m hole AM21RC001 012.
o 66m of Banded Iron Formation (BIF) intercepted in hole AM21RC001 027 with results pending.
o Drilling confirms new iron ore zone targets in permit area
o Interpretation work outlines much larger target areas for follow up
o Assay results of remaining 36 drill holes expected during the month of May.
Max turbo napth summary just woke up saw a rns?
Covid is the reason, i think they presume the market know this now but maybe that could be highlighted again, i see your point, i do think any investor who knows the sector will know this and any other new investor will learn this from this board
good luck ufo'ers
Maybe I missed it but I didn’t realise they were drilling so many holes? The fact that they have so much to assay explains the delay to me, and remember the rain delayed the drilling to much later than anticipated.
Absolutely Nap, don’t disagree with you there, just was expecting all the results after this wait, I don’t blame the company.
Also wish they would give reasoning not for my benefit, but other shareholders who aren’t aware of sector-wide delays.
The program has also opened new highly prospective areas of the tenement previously not explored and identified prospective further DSO grade potential.
foot print and new mineralisation has grown does t for me
"we believe that our iron ore projects will deliver significant value to shareholders" :)
EWT every company in Australia and not just Australia is getting delays of one sort or another, the other option was not to give these to the markets and wait for the others? i would rather they release as they get them
Must say a bit disappointing to only receive one third of holes after this wait, would be nice to get a reason, but won’t dwell on it as long as they follow through on further delivery through the rest of May!
Turbo and breath hahaah.
well at least they have released some results and very shallow 2 metres and some from surface so not much cost in getting to the stuff. all in all very happy indeed :)
At last LOL
So overall very encouraging news identifying the DSO and a certain percentage of the premium grade DSO also identifies that the original identified area is now bigger than expected so the metric tonnage will increase. More assay results during the month will certainly help in finding the extent and quality of the ore body. He just need to keep trickling in those results during the month . All very positive I think.
944T